The resurrection of the abandoned Granite Run Mall in Middletown Township as a mix of entertainment, dining, retail, apartments, and office space could become the face of the future.
What was propped up by a $122 million loan a decade ago sold for $24.2 million in 2013 and invited a $120 million redevelopment by BET Investments. Granite Run is currently being transformed into a hub of 400 apartments, 808,000 square feet of retail, 12,000 square feet of office space, a dozen restaurants, a theater, and a bowling alley, according to a Philadelphia Inquirer report by Suzette Parmley.
“The key to being successful is to see what other people don’t see,” BET President Michael Markman said. “The live/shop/work environment is what people are looking for. It’s almost a blueprint for success for these enclosed malls all over. They tend to be good real estate.”
Construction on the Granite Run remake’s office space began a month ago, and two retail buildings got the green light last week. Completion is expected in 2018.