The Mall at Prince George’s is getting an upgrade.
The mall’s owners, a publicly traded real-estate investment group, have committed to a $30 million renovation, including new exteriors, entrances and storefronts. Work is expected to begin early next year and finish in 2018.
In a statement, Pennsylvania Real Estate Investment Trust CEO Joseph Coradino attributed the remodeling to recent high-end development in the area, which includes upscale apartments, townhomes and the new Safeway at University Town Center.
“The property has just begun its transformation into an elevated, vibrant shopping and dining destination commensurate with the development that has occurred in the surrounding area which creates a significant opportunity to densify the property in the future, enhancing the experience between the mall and surrounding developments,” he said.
To put that in plain English: The mall’s owners are looking to upgrade it from the traditional 1980s-style shopping center with an ocean of parking into a more modern shopping center that ties into the surrounding area better. Also, fancier stores.
On that front, the mall has landed new tenants in ULTA, a fast-growing beauty store and salon chain that is known to drive significant foot traffic, and H&M, a trendy clothing store popular with millennials, along with Designer Shoe Warehouse.
The renovations should help complete a key part of the puzzle in the area around the Prince George’s Plaza Metro station, which has seen a lot of new development in recent years. The mall, which opened in 1959, was last renovated in 2001, when Target moved in.