Saturday, May 18, 2002
Anderson moves on mall plan
By Lew Moores, lmoores@enquirer.com
The Cincinnati Enquirer
ANDERSON TWP. Township officials will buy 21 acres of undeveloped land behind Beechmont Mall for a park and storm water control, and have approved tax incentives for the mall's new owner, moves that could spark redevelopment of the moribund shopping center.
This is a monumental decision, said Peggy Reis, president of township trustees.
The township entered into an agreement with Victory Investments Inc., which bought the mall in December, to buy the land for $1 million. Closing is expected by July 31.
At their Thursday night meeting, trustees also committed $750,000 of tax increment financing money, which is generated by increased commercial property values, to help demolish some of the existing mall buildings.
This is big time for us, said Trustee Russ Jackson. We have finally come together with this developer as to what's going to happen. We're committing dollars.
The goal is to help make the mall more attractive to potential tenants and patrons. When it is redeveloped, Beechmont Mall will become Anderson Towne Center.
Victory, of Columbus, Ga., bought the mostly deserted Beechmont Mall from Goldman Sachs in December for close to $9 million.
In addition to developing the park and lake behind the mall, other incentives include locating the township's new park-and-ride on the property, and taking over the service road that runs behind the mall and turning it into a public road.
The township's Community Improvement Corp., which acts as its developer, will have an option to lease a portion of the former Parisian building, possibly for a multiscreen movie theater.
This arrangement provides the necessary incentives to the developer without giving away the store, said Trustee Al Peter.
Victory officials were not available for comment. Mr. Jackson said Victory has not announced any timetable for development of the mall.
It will not be enclosed like a traditional mall. It will have free-standing buildings, angled parking in addition to perimeter parking, and sidewalks.
The township has been working for months to craft a plan that will support the economic health and vitality of the mall and the rest of the areas around Beechmont Avenue, said Mrs. Reis.
On Friday, mall walkers and shoppers said they hope something is done soon. Most seemed to prefer an enclosed mall.
We like it the way it is, or was, I should say, said Jeannette Simon, 65, who lives in the township. Build it back up. We like it covered, especially for older people.
Ralph Woodruff, 79, said he watched as it was built in 1969.
I'd like to see it upgraded, but kept the way it is, said Mr. Woodruff. On the other hand I hate to see her go on like this. It's rough on the neighborhood. I want them to hurry up and do something.
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