PARAMUS, N.J.--(BUSINESS WIRE)--Unibail-Rodamco-Westfield (URW) today announced Mill Creek Residential (MCR) as co-developer for the first phase of the landmark transformation of Westfield Garden State Plaza in Bergen County, NJ.
Anticipated to break ground in 2024 and slated to open to residents in 2026, the first phase will include the construction of 550 luxury apartment homes that will be integrated with the shopping center via a one-acre ‘town green’ for residents, visitors, and shoppers to enjoy, as well as introduce a ‘main street’ outdoor district featuring restaurants and everyday conveniences and services.
The development will also include significant community and sustainability features such as new parks and greenspaces, green building construction, upgraded connectivity to public transportation networks, electric vehicle charging stations, and the restoration of a section of the beloved local Sprout Brook.
Geoff Mason, executive vice president, U.S. development, design & operating management, URW, said: “Our bold vision for Westfield Garden State Plaza is about transforming the shopping center into a true town center where the local community can come together to live, shop, work, and play. Our partnership with Mill Creek Residential will help bring this vision to life; leveraging their incredible experience and best-in-class approach to create a landmark destination for the community.”
Russell Tepper, senior managing director of development for Mill Creek Residential, said: “We’re extremely excited to be selected as a co-developer at Westfield Garden State Plaza, and we’re eager to get started on the development. We look forward to working with URW, the Borough of Paramus and Bergen County to help create a truly unique experience for residents and visitors alike. This will be a truly collaborative process and our team is enthusiastic to watch it progress.”
The development is an example of URW’s broader strategy to transform shopping centers into multi-faceted mixed-use lifestyle destinations, while further enhancing their contribution to the economic, social, and cultural vitality of the local communities they serve.
Aligned with this vision, Garden State Plaza will be completely reimagined, with surface parking areas to the west of the shopping center converted into modern luxury apartment homes, plazas, parks, gardens, health and wellness amenities, commercial office space, as well as a transit center – alongside new outdoor shops, restaurants, and community event spaces. The center will appeal to shoppers and residents alike: the perfect place to find the latest fashions, enjoy premier dining, socialize, take a walk or ride a bike, enjoy concerts and cultural festivals, and so much more.
One of the world’s premier shopping destinations, Westfield Garden State Plaza is a 2.1-million-square-foot flagship destination anchored by Neiman Marcus, Nordstrom, Macy’s, and AMC Theatres. In addition to being home to the world’s top luxury brands, also it also delivers a dynamic mix of retail, dining, and entertainment with the additions of Eddie V’s, Season’s 52, Pinstripes, Nerf Action Xperience, and more. For more information, visit www.westfield.com/gardenstateplaza.
About Unibail-Rodamco-Westfield
Unibail-Rodamco-Westfield is a dynamic global developer and operator of Flagship Destinations, with a portfolio valued at €55.0 Bn as at June 30, 2022, of which 87% in retail, 6% in offices, 5% in convention & exhibition venues and 2% in services. Currently, the Group owns and operates 82 shopping centres, including 53 Flagships in the most dynamic cities in Europe and the United States. Present on two continents and in 12 countries, Unibail-Rodamco-Westfield provides a unique platform for retailers and brand events and offers an exceptional and constantly renewed experience for customers.
With the support of its 2,700 professionals and an unparalleled track-record and know-how, Unibail-Rodamco-Westfield is ideally positioned to generate superior value and develop world-class projects.
Unibail-Rodamco-Westfield distinguishes itself by its Better Places 2030 agenda, that sets its ambition to create better places that respect the highest environmental standards and contribute to better cities.
Unibail-Rodamco-Westfield stapled shares are listed on Euronext Amsterdam and Euronext Paris (Euronext ticker: URW), with a secondary listing in Australia through Chess Depositary Interests. The Group benefits from a BBB+ rating from Standard & Poor’s and from a Baa2 rating from Moody’s.
For more information, please visit www.urw.com
Visit our Media Library at https://mediacentre.urw.com
Follow the Group updates on Twitter @urw_group, LinkedIn @Unibail-Rodamco-Westfield and Instagram @urw_group
About Mill Creek Residential
Mill Creek Residential Trust LLC is a national rental housing company focused on the development, acquisition and operation of rental communities in targeted markets nationwide. The national company, headquartered in Boca Raton, Florida proactively develops, acquires, constructs and operates communities through its seasoned team of real estate professionals in offices across the United States. Mill Creek is building its portfolio in many of the nation’s most desirable markets in Seattle, Portland, the San Francisco Bay area, Southern California, Phoenix, Denver, Dallas, Austin, Houston, South Florida, Tampa, Orlando, Atlanta, Nashville, Charlotte, Raleigh, Washington, D.C., New Jersey, New York, and Boston. As of March 31, 2022, the company’s portfolio is comprised of 117 communities representing over 31,427 rental homes that are operating and/or under construction. For more information, please visit www.MillCreekPlaces.com.