springfield mall renovation: Springfield Mall Renovation Set to Begin in March or April
- 02/11/11 05:33 PM
Ground-breaking for the Springfield Mall renovations is set to take place in 30-60 days. It has been reported that Vornado Realty Trust paid $115 million to reacquire its loan as well as $25 million to acquire a partner's interest in the property. This transaction is reportedly going to give Vornado a $98 million profit for 2010. According to Fairfax County Supervisor Jeff McKay, Vornado has been busy processing site plans and building permits with Fairfax County. The project has four phases. Phase I involves renovating the interior of the current buildings. The movie theatre will return and a new food court will (2 comments)
springfield mall renovation: Springfield Mall Set to See Renovations in Coming Months
- 01/08/11 02:25 AM
According to a report in the Springfield Connection Jan 6-12, 2011, Vornado Realty Trust is set to begin a multi-phase renovation project in the March-April timeframe. Nancy-Jo Manney, Director of the Greater Springfield Chamber of Commerce stated that the mall owners were currently in talks with potential tenants. Word is that last month, Vornado settled on a new purchase price of $115 million, down from $171 million, and can now move forward with renovation. The renovations scheduled will focus on the mall's interior, including bringing back the movie theatres with new stadium seating, and a new food court. The company has already (2 comments)