Like many malls throughout the nation, the numbers of anchor shops and occupied outlets at River Oaks Middle in Calumet Metropolis have declined lately.
In consequence, town’s mayor has proposed to show the buying heart right into a multi-use leisure district, which he mentioned might generate upward of $500 million.
“Think about a mall of the longer term the place you’ve got residential housing, the place you’ve got condos,” Jones mentioned. “We need to flip this into an leisure district the place everybody will come to Calumet Metropolis for 2 or three days versus coming right here for 2 or three hours.”
The leisure district would possibly even characteristic a on line casino, in keeping with the mayor.
However there is a hurdle that stands in method of the proposal transferring ahead.
Calumet Metropolis owns the constructing that when housed Sears, however not the opposite facet of River Oaks Middle. Jones wouldn’t elaborate on how town would take over the rest of the mall if it is not on the market, however did say there are a number of authorized choices.
“We need to work [with] them on some sort of settlement that we will take over this mall,” he mentioned.
The mall’s house owners, Mason Asset Administration and Namdar Realty Group, mentioned their groups had a productive assembly with Jones on Friday and have scheduled a follow-up dialog to proceed the dialogue.
The businesses’ full joint assertion is listed beneath:
“Earlier immediately, the Mason Asset Administration and Namdar Realty Group leasing and administration groups had a productive assembly with Mayor Thaddeus Jones about the way forward for River Oaks Middle. We now have already scheduled a comply with up dialog to proceed the dialogue, and we sit up for offering the neighborhood with extra perception when there may be information to share.
Within the meantime, we’re remaining dedicated to the way forward for River Oaks Middle, our leasing and administration groups have signed over a dozen new offers on-property so far this 12 months, on prime of the renewals, relocations, and expansions they’ve secured with present tenants. We’re additionally taking steps to make any obligatory upgrades to the buying heart, making certain it supplies a sleek buying expertise for visitors.”