Dean Adler, a well known regional developer, is moving forward with plans to acquire the underperforming Franklin Mall. The property, currently facing high vacancy levels, is poised for a major repositioning that blends residential and recreational uses. This shift reflects a broader trend of transforming traditional retail spaces into mixed use destinations.
• Dean Adler is under contract to purchase Franklin Mall in Northeast Philadelphia
• The property is currently experiencing significant retail vacancy challenges
• Plans include a $100 million redevelopment featuring apartments and a youth sports complex
• The project signals a shift from traditional retail toward mixed use development
As retail continues to evolve, projects like this highlight where future demand is heading. Strategic redevelopment could turn underutilized assets into high value community hubs.
By: Noah Zucker | Bisnow | April 9, 2026
Photo: Courtesy of Noah Zucker, Philadelphia
