Development of the property is being handled by Indiana-based Simon Property Group and Kravco Simon Co., based in King of Prussia, PA. Kravco Simon, which is 50% owned by Simon Property Group, has a 38% stake in the Quakerbridge Mall.

Plans to expand the mall were revealed in Sept. 2005, and in May 2007 it was revealed that the expanded mall would include a 90,000-sf Neiman Marcus and a 144,000-sf Nordstrom. The new stores join current anchors JCPenney, Lord & Taylor, Macy's and Sears. The current JCPenney store will be demolished and a new 140,000-sf JCPenney will be built.

The first phase of the project, which is scheduled to go before the planning board for a vote on June 2, would include construction of the new anchors and a three-level parking garage. Construction could begin about a month after the planning board gives approval and is scheduled for completion in 2011. Specific financial details of the project were not disclosed.