Mayor says Mount Laurel is ‘growing from a township to a city’

Mayor says Mount Laurel is ‘growing from a township to a city’

2022-08-02T13:03:13-04:00August 2nd, 2022|Economy, South Jersey|

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Writer: Joey Garrand

2 min read August 2022 Recently celebrating its 150th anniversary, Mount Laurel Township is fostering new industries, experiencing an influx of new residents and setting a foundation to become more than just a town.

“With our population being over 45,600 residents, Mount Laurel is really growing from a township to a city,” said Kareem Pritchett, mayor of Mount Laurel Township in an interview with Invest:.

According to the opens in a new windowU.S. Census Bureau, Mount Laurel’s population has grown from under 42,000 in 2010 to approximately 45,606 as of June 2021. This increase of nearly 9% is well above the state average of 5.4%

Mount Laurel was recently named a opens in a new windowTop 10 town in South Jersey by South Jersey Magazine. In addition to location and proximity to neighboring states and other cities of interest, development and new industry is attracting a great deal of attention to the area. 

“Construction is taking off and our revenue is actually higher than it was pre-pandemic, which shows you that residential and commercial properties are still being constructed,” said Pritchett, also pointing to the significant number of mixed-use housing developments that have been constructed over the years. Delco Development’s recent pursuit of a opens in a new windowsecond Haddon Point location in Mount Laurel — a project consisting of 274 high end market rate apartments, 206 townhomes, 120 senior affordable and commercial property — is just one of such developments.

Regarding the expansion of industry, cannabis is a major focus. “The council has supported three cannabis dispensaries and Mount Laurel has opted to license six overall,” said Pritchett. 

Mount Laurel’s former mayor, Stephen Steglik, also showed his enthusiasm for the expansion of the cannabis industry in his interview last year for Invest: South Jersey 2021. “One of the industries that all of New Jersey is now looking closely at is recreational marijuana. 66% of Mount Laurel voted in favor of the referendum to legalize marijuana with 70% of Burlington County voting in favor. This could be a big step in the right direction for local economies to start rebuilding and generating money, especially money that they didn’t plan on receiving,” said Steglik.

Mount Laurel’s prime location has also put the area in the crosshairs of logistics development and investors. Earlier this year, opens in a new windowPrologis acquired a 114,676-square-foot office building in the town, according to GlobeSt.com. The property is adjacent to the NJ turnpike and Interstate 295, and is 20 minutes from the Port of Philadelphia and the Philadelphia International Airport. In a more opens in a new windowrecent transaction, 2000 Bishops Gate Blvd. in Mount Laurel was part of $367.8 million in financing for a 23-building, 3 million-square-foot Mid-Atlantic logistics portfolio, according to Commercial Property Executive.

Following the rapid increase of business and residents in the area, there has also been growth in local services to meet the population’s needs. Pritchett stated that a new EMS building will be completed sometime in the fall of this year, and education provider Apple Montessori opens in a new windowrecently opened its first South Jersey school in Mount Laurel.