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Central to the redevelopment plan is the construction of a new 54,000-square-foot Stop & Shop as the anchor store. But before the Heidenberg Properties can begin construction on the new center, they will demolish the existing Key Food supermarket and the CVS Pharmacy.
The new building footprint will be over 20,000-square-feet larger than the two existing stores and expand Lake Plaza Shopping Center to nearly 165,000 square feet.
Other plans for shopping center include renovating the façade, repaving the parking area and upgrading the site lighting. When completed, the shopping center will not only have a new anchor, but a more modern look with better traffic flow.
“The redevelopment of a shopping center around a strong anchor and the creation of a compelling tenant mix is core to creating value for our stakeholders," said Vice President of Operations Jason Lazar. "This was a complicated process involving multiple municipal agencies. Receiving final site plan approval is a testament to the hard work and dedication of our team.”
The company anticipates starting construction in the spring with new and expanded tenants opening shortly thereafter.
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