The demolition of Monmouth Mall is scheduled to start this March. That's according to Michael Sommer, chief development officer for Kushner, the real estate company that owns the mall. Kushner Cos. was started by Charles Kushner, the father of former President Trump's son-in-law Jared Kushner. The Kushners are also the developers of Pier Village in Long Branch, among many other real estate projects in New Jersey and across the U.S. Kushner is about to embark on a dramatic overhaul of Monmouth Mall, which has been operating at under 60 percent occupancy for the past several years. Kushner plans to tear down the mall's entire second floor, and turn the whole site into a residential complex, with retail and offices, to be called "Monmouth Square." Kushner tried this conversion several years before, pre-pandemic, but was stymied in part by resistance from some Eatontown residents. Then the pandemic hit, and the entire project was tabled. Monmouth Square will be an airy residential complex, with wide public walkways for strolling and luxury apartments built around a center green. Kushner plans to build 1,000 one- and two-bedroom apartments, with an outdoor pool and fitness center. Rental prices have not been released, but online chatter reports $2,000 - $3,000 a month. Walking and biking trails may be built around the perimeter. Construction on the apartments will likely start later in 2024. Kushner also envisions retail tenants moving in, such as a Whole Foods, the Barnes & Noble remaining, doctors' offices, restaurants and boutique shops. For years now, Monmouth County residents have witnessed the slow but steady decline of Monmouth Mall. In a 2022 public presentation to the town of Eatontown, Kushner reported 500,000 square feet of stores at the mall were empty. Kushner has warned for years now that it is not sustainable to keep the mall open with such a high amount of empty stores. Not only that, but Kushner filed multiple tax appeals for overpayment of taxes on Monmouth Mall. Eatontown Mayor Anthony Talerico said last summer Kushner would likely be successful on its appeals, because the value of the mall has plummeted "significantly" in the past 20 years. Originally named "Monmouth Shopping Center", the Monmouth Mall opened on March 1, 1960, as a 600,000-square-foot (56,000 m2), 14-building, 50-store open-air center. The mall was built on what was then a farm owned by the Valentino Family of the nearby city of Long Branch, New Jersey. Original anchors of the mall consisted of Bamberger's (at that time a subsidiary of Macy's) and Montgomery Ward. After pulling out of New Jersey, Montgomery Ward became Alexander's in 1975. The mall was enclosed and expanded to its current size in 1975. The older section of the mall continued to have one level while the new expansion included two levels that were anchored by Abraham & Straus, Hahne's and JCPenney as of 1975. In 1987, the mall was renovated. The renovation brought in new lighting, new flooring, and new glass and chrome handrails along the second level. The renovation also removed the in-floor planters and replaced them with movable planters. The renovation also closed off the entrance near the former arcade on the Wyckoff Road side of the old wing; and raised the lowered seating areas in front of the anchors. In 1994-1996, the mall was expanded to include an elevator and a food court (modeled after a Jersey Shore theme) including 1920s style beach photos wrapped around the columns in the older section of the mall, as well as Nobody Beats the Wiz, a new 15-screen Loews Theatres (now AMC). Old Navy to replace the closed Caldor. The mall also saw minor cosmetic changes that consisted of replacing black with sky blue in the color schemes through painting and retiling, as well as new lighting along the pillars. Through the years, Monmouth Mall has seen many different anchors that have come and gone, however, JCPenney was built by themselves in 1976 and remains to this day. In 1987, the Bamberger's brand was eliminated and the store was renamed for its parent corporation, Macy's. Anchor changes consisted of Caldor replacing Alexander's in 1986, Macy's replacing the former store Bamberger's in 1987, Lord & Taylor replacing the former store Hahne's in 1990, Stern's replacing Abraham & Straus in 1995 and Boscov's replacing Stern's in 2001. In 2010, Planet Fitness opened at Monmouth Mall. However, after many years at the mall, Planet Fitness announced plans to close it's Monmouth Mall location and relocate to a new store in Shrewsbury in 2022. Monmouth Mall went through a significant expansion in 2009. In mid-2010, cosmetic renovations started at the mall including new tile, paint, lighting, and a complete overhaul of the food court. The renovations lasted until summer 2011. In August 2015, Vornado's fifty percent stake and management in the Monmouth Mall was sold to co-owner Kushner Companies for $38 million.
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