Rt. 18 Market Loses Lease
It seems like Route 18 Indoor Market will close it’s doors on November 2nd. The Indoor Market was home to 100- 150 vendors, but as news spread of the expiration of the lease - many bailed and the number has dropped down to 60.
For The Home News:
The Route 18 Indoor Market and Jason’s Furniture, along with Sam’s Club, occupy retail space in the strip mall that lies at the heart of the Golden Triangle redevelopment area. With Toll Brothers plans for housing construction on hold, negotiations for lease extensions were conducted by the businesses.
Toll Brothers’ Golden Triangle plan, approved by the township’s Planning Board last year, calls for 200,000 square feet of retail space to be built in a “transit village” that will also include 402 housing units. The developer, due to sluggish economy, requested that the housing units be constructed in the final phase of the project.
The first phase of the project was the construction of an adjacent parking deck to be followed by two new restaurants facing Route 18. The additional commercial space is slated to follow before the final phase of housing construction commences.
The Township Council amended the timetable for completion of the project, granting the developer’s request to delay housing construction by three years, from 2008 to 2011.
The overall completion of the redevelopment project is scheduled for 2015.
