The Gallery shopping complex located on the east side of Market Street is planned to transform into a luxury shopping facility. According to Philadelphia Magazine, developers from Macerich Co. want to invest $106.8 million into the revitalization of The Gallery. Plans are to reinvent The Gallery as an up-scale, urban shopping center.
Macerich Co. owns the Deptford Mall in South Jersey and 55 other shopping malls in the United States. Currently, Pennsylvania Real Estate Investment Trust owns The Gallery and plans on going in half in redevelopment with Macerich Co. The redevelopment process is expected to be complete in October.