10A — November 22 - December 12, 2019 — M id A tlantic
Real Estate Journal
I CSC N ew Y ork D eal M aking
Anchored by IGA Supermarket, revamped retail center will offer new shopping & dining options Cedar Realty Trust Breaks Ground at Fishtown Crossing Shopping Center inNortheast Philadelphia
H I LADELPH I A , PA — Cedar Real- ty Trust, Inc. broke ground on Thursday, October 3rd at Fishtown Crossing, the redevelopment of a shopping center in Northeast Philadel- phia formerly known as Port Richmond Village. The initia- tive will create 18,000 s/f of new retail space, designed for a diverse mix of fast-casual dining, restaurants and shop- ping. Fishtown Crossing will also feature a host of new amenity upgrades, creating new public spaces that will foster an inviting atmosphere for shoppers and visitors. P
chief executive officer Bruce Schanzer , executive vice president and chief operat- ing officer Robin Zeigler and senior vice president of development and construction Michael Sommer . “As Fishtown and Port Rich- mond continue to thrive, we’re creating a destination for a diverse mix of shopping and dining that harnesses the en- ergy of these neighborhoods,” said Schanzer. “Along with the addition of new retailers, this property is getting a full facelift, while adding new public gathering spaces that reflect the growing preference for a unique, walkable retail experience.” The shopping center will soon welcome Starbucks and Nifty Fifty’s. Fishtown Cross- ing is currently home to nearly 20 shops, including IGA, GNC, Kicks USA, Slack’s Hoagie Shack and Rita's Water Ice, in addition to a diverse tenant mix that includes beauty and health, clothing, professional services and discount retailers. The redevelopment is expected to add a mix of fast casual and sit-down restaurants, in addi- tion to the creation of outdoor seating areas and landscaped common areas. “With each and every prop- erty, we take the time to un- derstand the specific wants and needs of the community so we can ensure that our re- development reflects the needs of local residents,” said Zeigler. “This shopping center, already a staple in the neighborhood, will soon have a host of new retail options that will benefit residents for many years to come.” The property is the first of several redevelopment initia- tives led by Cedar Realty Trust in Philadelphia. In South Philadelphia, the Company is leading the South Quar- ter Crossing redevelopment, which will initiate substantial improvements to two exist- ing shopping centers known as Quartermaster Plaza and South Philadelphia Shopping Center. In addition to the en- hancement of the retail struc- tures onsite, South Quarter Crossing will include the addi- tion of 270 apartments, along with a wide range of improve- ments to the surrounding pe- destrian walkways, ultimately creating a more seamless inte- gration with the surrounding neighborhood.
Sena t o r Lawr enc e M. Farnese, Councilmember Mark Squilla, State Repre-
sentative Mary Isaacson and State Representative Joseph Hohanstein were in atten-
dance, along with key ex- ecutives from Cedar Realty Trust including president and
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