Southridge Update: Waiting on an Anchor
The next step in the redevelopment of Southridge Mall is for the Simon Property Group to secure a new tenant for the old Younkers/Gimble’s space, according to a report in the GreendaleNow. An announcement on a new anchor was expected by December 21 and a lease for the new anchor store — widely speculated to be a Macy’s — has not been finalized.
Among the highlights:
- The agreement with the owner of the mall guarantees that the value of Southridge will jump up $52.5 million from its current value by 2012.
- Plans for the interior renovations of the mall are under wraps.
- Work on the mall is expected to begin in early 2011.
- The project is expected to bring 100 jobs to the area