After numerous false starts I am cautiously optimistic that the new owners of the Sunriver Village Mall are on to something.
The new owners operate on an all cash basis...they paid cash for the mall and will pay cash for the improvements. In other words no debt to service. That is a big plus in this economic environment.
They will be injecting $4-$5 MILLION into the existing mall over the next 18 months starting IMMEDIATELY. These funds will be used for badly needed repairs and maintenance, new landscaping and signage, demolishing buildings that are long past salvageable and remodeling many of the existing buildings.
The new owners seem to be taking a more conservative and realistic approach to rebuilding our mall. In other words, lets fix and improve what we have first and go from there. I think they will find the community more open to this kind of strategy as opposed to the over the top redevelopment proposal from the previous mall owners.
Lastly, the owners indicated that there would most likely be a residential component to the overall redevelopment plan but that would come later. I think its a good move on their part to start making immediate improvements and then incorporate mixed use/residential into the overall plan. There is nothing like forward progress to get people bought in and on board!
For more detail go check out their latest Powerpoint presentation at:
http://www.villageatsunriver.com/redevelopment.html
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