Quote:
Originally Posted by Mopacs
Nothing concrete...I've heard 'rumblings' from multiple sources. I think some form of redevelopment within the next 3-4 years is inevitable. The mall is in a fantastic location overall, and any reinvestment by co-owners General Growth Properties and/or Simon could go a long way. Both have a history of pumping money into redevelopment of their older properties, so this is not out of the question. Perhaps the co-ownership has been a hindrance?
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If you're looking for a major new investment, Highland is just an awful, awful location for the foreseeable future. Crime is high; nearby demographics are poor; and, no, the commuter rail line provides no major access to the property (the station, if built in the first round, is still just an every-30-minutes-during-rush-hour-only service with poor characteristics on the residential and office ends of the line).
This isn't anything remotely like the properties along DART's rail line which have redeveloped. The transit-dependent population which will serve as most of the ridership of this rail service is already over-represented at the mall due to the superior bus access provided by the transfer center.
Oh, and, driving access is poor too - compared to Northcross, for instance, because of the barrier the rail line and I-35 present to east-west circulation.
All in all, about the worst site in Austin (except maybe the 183/Braker strip malls currently being abandoned) for redevelopment. Don't hold your breath.