R.I.P. University Mall | Arkansas Blog

Monday, October 1, 2007

R.I.P. University Mall

Posted By on Mon, Oct 1, 2007 at 11:30 AM

The best news that occurred while I was gone was resolution of the festering sore of University Mall. Strode Property Group, the developer of the new Midtowne retail center, emerged as the white knight, buying the property from the landowner and terminating the lease with Simon Property Group, which had allowed the property to deteriorate while it pursued hopes of another mall in western Little Rock.No terms have been disclosed on the Simon lease termination, but it had been ordered to pay some $8 million to rehab the failed mall and getting out from under that payment undoubtedly was an incentive to give up the years remaining on the land lease.

This story broke prematurelyafter the Democrat-Gazette issued an erroneous report that Simon Property was going to buy the mall. Fox 16 got a few more details from the new developer that indicates he envisions not just a "lifestyle" retail center, hopefully with a Target, but a mixed-used development that could include multi-family residential.

Demolition of the old mall could begin within two weeks, the new owner said.

From the ArkTimes store

Favorite

Comments

Showing 1-1 of 1

Add a comment

 
Subscribe to this thread:
Showing 1-1 of 1

Add a comment

More by Max Brantley

Readers also liked…

  • Jason Rapert vs. Wikipedia

    Sen. Jason Rapert against the world: Wikipedia edition.
    • Jan 23, 2016
  • Hospitality, restaurant groups oppose bathroom bill

    Add the restaurant and hospitality association to those opposed to Sen. Linda Collins-Smith's bill to keep transgender people out of public restrooms that match their gender identity.
    • Mar 16, 2017
  • Auditor Lea caught not telling the truth

    State Auditor Andrea Lea, who began her tenure in statewide office with a degree of competence unseen in some other Republican counterparts (think Treasurer Dennis Milligan particularly), is becoming more deeply mired in a political scandal.
    • Mar 4, 2016

Most Shared

  • City ethics update; campaign limit was supposed to help the little guy

    Some more history on the Little Rock city ordinance that limits candidates for mayor and City Board to raising campaign funds to five months before the November 2018 election. It raises questions not only about Warwick Sabin's fund-raising tactics, but also Mayor Mark Stodola's carryover money.

Most Viewed

Most Recent Comments

Blogroll

 

© 2017 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation