springfield revitilzation: 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)