The long-dead Echelon Mall hits another redevelopment roadblock
The developer who wanted to make the shuttered mall a “regional destination” said he had to pull out because his company could not acquire a $90 million state tax credit.
The North Jersey developer that had plans to turn the long-dead Echelon Mall in Voorhees into a $250 million “regional destination” has withdrawn.
George Vallone, president of the Hoboken Brownstone Co., said he could not proceed because his company could not get a $90 million state tax credit. The firm had been banking on the gap financing through the Aspire program, but the state recently paused the program “in an effort to balance fiscal responsibility.”
And so the saga of the old Echelon Mall continues.
For nearly two decades, the sprawling complex off Somerdale Road — one of several dead malls in the Philadelphia region — has been redeveloped in fits and starts.
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The Echelon Mall, built in the 1970s, began struggling with vacancies in the early 2000s.
In 2008, it was partially demolished to make way for a $150 million Main Street-style mixed-use development. The property was rebranded as the Voorhees Town Center, which included the enclosed mall and the open-air complex.
Namdar Realty Group, which is known to scoop up distressed malls, bought the property from PREIT for $13.4 million in 2015, but retailers and customers continued to flee. In 2024, a two-alarm fire damaged the inside of the building, and it has not reopened.
In recent years, Namdar officials have not responded to requests for comment about their plans for the property.
Had Hoboken Brownstone been able to get the tax break, the company had planned to buy the mall building from Namdar, Vallone said earlier this year. The sale would not have included Voorhees Town Hall or Boscov’s, the site’s sole department store.
On the site, Hoboken Brownstone had planned to construct more than 200 market-rate townhouses, as well as more than 100 units of affordable housing, both for-sale townhouses and rental apartments, according to township documents.
The company also wanted to build 38,000 square feet of new commercial and entertainment space; a parking garage with at least 1,300 spots; outdoor areas and bike paths; and a 30,000-square-foot indoor community space.
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Voorhees Township officials did not respond Wednesday to requests for comment about the property’s future.
Township administrator Stephen Steglik told the Philadelphia Business Journal that Hoboken Brownstone’s withdrawal was “obviously disappointing.”
“We would like to see Namdar make corrections to the mall itself” and reopen, Steglik told the Business Journal, adding that township officials would also be open to other plans that include residential and retail uses. “It would be great if another developer could come and not need the tax credits. That’s one less hurdle.”
