Moorestown Mall owner PREIT has announced it has a signed letter of intent with Marc Vetri to open a restaurant at the New Jersey mall. Michael Klein reports it would be a scaled down version of Osteria.

PREIT is attempting to upgrade the Moorestown mall by adding high-end dining destinations. Moorestown is a dry town and a November ballot measure would allow PREIT to purchase four liquor licenses for the mall at $1 million each (twice what a recent liquor license in Cherry Hill went for).

So in November will Moorestown voters be lured by the promise of prosciutto di parma topped pizzas and encouraged to vote to allow the mall to offer liquor? With the threat of rising property taxes or cuts to schools and local services, four liquor licenses for the mall seems an attractive option for creating revenue. Having a chef of Vetri’s status onboard is one heck of an ace-in-the-hole.

Vetri signs letter of intent for Moorestown Mall [The Insider]
Guaranteed Revenue [Courier Post]