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Originally Posted by jonny golden
And also sold their stake in McAllister Place.
It's also interesting that they intend to monetize (sell) 120 acres of excess land. This is essentially underused parking lot space.
They cite potential land use as multi-residential/seniors housing, hotel, student housing, and storage.
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For McAllister Place, it was sold with plans provided for approximately 526 residential units on undeveloped portions of the property. The new owners, Smart Investments, indicated that this isn't a main focus right now, but over time it could happen. Their main focus for now is taking an hands on approach of managing mall and improving the mall. They want to bring in new retailers, do tenant upgrades, and have stronger food, service, and experiential uses.
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