Former New Jersey shopping plaza getting a second life

A long shuttered shopping plaza in New Jersey is finally getting a second life. The Burlington County Times, Willingboro, New Jersey, reports that demolition crews began demolishing a former Kmart at the Tri-Towne Plaza in Evesham, New Jersey.

RD Management LLC, based in New York City, one of the nation’s largest privately held real estate development and management organizations, is redeveloping the 40-year old site into The Shoppes and Residences at Renaissance Square, which is scheduled to commence in spring 2016.

Located on Route 70, The Shoppes and Residences at Renaissance Square is an 112,245-square-foot mixed-use center formerly known as Tri-Towne Plaza. With the redevelopment, five buildings containing 338 new luxury rental apartments will be added to the shopping center, as well as an open space park complete with jogging paths, walkways, and a pond. Additional upgrades include new signage and other façade upgrades to the retail portion, and the addition of new retail and restaurant facilities to the existing retail space.

“The addition of these luxury homes will make Renaissance Center the epitome of a property where people can work, live, and play,” said Rick Birdoff, principal and president of RD Management. “Mixed-use properties like Renaissance have increasingly become popular for residents that love living in the suburbs but still want all the entertainment amenities of a city.”

RD Management owns 23 retail, mixed-use, vacant land, office, and storage properties in New Jersey and has more than 200 properties in its national portfolio.