WAYNE, NJ—The redevelopment of the Wayne Town Center here that was delayed by the recession is now “full speed ahead” with a new Costco and Dick's Sporting Goods expected to open soon.
The new 148,000-square-foot Costco and a new 70,000-square-foot Dick's Sporting Goods location are nearing completion and are expected to open this fall, according to The Record.
Vornado Realty Trust, which acquired the leasehold interest on the 49-acre site for $12.1 million after a previous redevelopment of the retail property failed, is rebuilding the center and has received $13.5-million in tax incentives from the state's Economic Development Authority in connection with the venture.
Vornado also has approvals to build two more buildings on the site, which will each house four to six stores or restaurants. Existing tenants at the Wayne Town Center include J.C. Penney, DSW and five restaurants.
Wayne Mayor Christopher Vergano, who acknowledges failed redevelopment efforts in the past at the property, says the redevelopment project “is definitely full speed ahead," and should bring more traffic to adjoining retail properties, such as the Willowbrook Mall. See story in The Record.
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