As the pressure for high-density housing continues to rise, and big-box centers and shopping malls are left empty, is there a way that the place where you once purchased a new outfit could be transformed into your next apartment? Although much of how we shop was put on pause by the COVID-19 pandemic, and we experienced the surge in e-commerce focused purchases, some of your favorite stores are faced with reimagining themselves in a new way. The mall was demolished in 2016.Shopping malls and retail centers are dead- or so they say. The new complex will consist of 700 rental apartments, roughly 250,000 square feet of office space and another 225,000 square feet of retail. New plans call for demolishing much of the mall complex while renovating a handful of the existing Fashion Mall buildings. In March 2015, the property was bought by Encore Capitol Management for $37.7 million.
#Abandoned malls professional
Then in October 2014, The developers of the Fashion Mall in Plantation voluntarily filed for Chapter 7 bankruptcy, placing the mall in the hands of professional fiduciaries. In May 2014, the majority owner, Chinese company Tangshan Ganglu Iron & Steel Co., accused project manager and minority owner Wei Chen of misappropriating $48.7 million of its funds. Finally, after a Chapter 11 restructuring in late 2012, ownership was ready to move forward again. Through 20, legal issues further plagued the project. However, the recession in South Florida during late 20 brought the project to a halt. The plan was approved in November 2008 and renovations began. The plan called for the demolition of a large portion of the mall, and the retail portion to be renovated into street-front stores. Capital announced plans to redevelop the property into a mixed-use lifestyle destination called 321 North. Without an amicable resolution, the city informed the mall’s tenants that they would be required to vacate their locations in the mall by October 15, 2007, and that any occupational licenses held by tenants of the center were revoked. Capital considered the cost of the upgrades excessive and unwarranted unless they were part of the mall’s renovation.
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Capital Holdings Group considered plans to renovate the property, the city pressed to have the upgrade installed, since the deficiencies were noted as far back as 2003.
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To add to the troubles the mall was experiencing, there was still the hurricane damages and an agreement signed by the previous owners with the city of Plantation to install upgrades to the mall’s fire safety systems. On Jit was announced that the Macy’s store would permanently close.Īfter the closure of the mall’s two anchor stores, the occupancy dwindled to fewer than 20 stores. Macy’s remained opened until 2005, when the mall sustained significant damages during Hurricane Wilma. After a series of sales, the property was acquired by U.S. Lord and Taylor closed in 2003, when the chain exited the state of Florida. Macy’s opened as the mall’s second anchor store, just before the 1988 holiday season and before the completion of the rest of the mall. Fashion Mall opened in early 1988 with Lord and Taylor as an anchor store.
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