The Washington Crown Center Mall is set for a major makeover after its acquisition by new owners. PREP Funds, from Cleveland, and the Industrial Realty Group out of Los Angeles have closed the deal and are now poised to inject $40 million into transforming the space into the reinvented Franklin Crossroads Park.
"Well, it's the move that this township has been waiting for a long time, a few years now," North Franklin board chairman Bob Sabot expressed in an interview, as reported by CBS News Pittsburgh. Next steps for renovation include a shift in zoning agreed upon by North Franklin Township in June, paving the way for the attraction of buyers and the subsequent sale. With rezoning in place, the path is clear for extensive redevelopment.
Details released by WTAE outline a grand vision where the eastern side of the mall will be replaced with new retail centers, while the west side will see development into a business park. In a forthcoming move, the old structures, including a movie theater and the defunct Bon-Ton department store, are slated for demolition.
According to the plans shared, the site is uniquely positioned to capitalize on its frontage along I-70, opening up opportunities for new retail stores and restaurants. On the flipside, the industrial and business park spaces are intended to bring a more diverse economic profile to the area. Chairman Sabot anticipates that the community will start to see changes almost immediately. However, the transformation comes at a cost for current tenants, such as IronBlast's Game Zone, who have benefited from low rents due to the maligned state of the mall. With renovations, these rates are set to reflect the fair market price—a financial leap that current occupants may not be able to afford.
