Development of the property is being handled by Indiana-basedSimon Property Group and Kravco Simon Co., based in King ofPrussia, PA. Kravco Simon, which is 50% owned by Simon PropertyGroup, has a 38% stake in the Quakerbridge Mall.

Plans to expand the mall were revealed in Sept. 2005, and in May2007 it was revealed that the expanded mall would include a90,000-sf Neiman Marcus and a 144,000-sf Nordstrom. The new storesjoin current anchors JCPenney, Lord & Taylor, Macy's and Sears.The current JCPenney store will be demolished and a new 140,000-sfJCPenney will be built.

The first phase of the project, which is scheduled to go beforethe planning board for a vote on June 2, would include constructionof the new anchors and a three-level parking garage. Constructioncould begin about a month after the planning board gives approvaland is scheduled for completion in 2011. Specific financial detailsof the project were not disclosed.