Federal Realty Investment Trust has big plans for several of its properties, including the Bala Cynwyd Shopping Center, writes Natalie Kostelni for the Philadelphia Business Journal.
It plans to transform the property into a mixed-use development over the next few years. This will move it beyond its retail roots and towards an urban environment, that will be better suited for the densely populated suburban community.
The company is planning to implement the same strategy it has already executed at its other retail properties around the country. There, Federal Realty has added apartments and offices to retail spaces, all of which have been organized around new roads.