logo


Meadville Mall on Track to Bright Future
Sunday, November 09, 2008 3:56 PM


(Source: The Meadville Tribune)trackingBy Ryan Smith, The Meadville Tribune, Pa.

Nov. 9--VERNON TOWNSHIP -- There's something bright on the horizon for the faded shopping center at the heart of the commerce-driven Conneaut Corridor, according to the property's owner and local officials.

But they're not saying what that something is just yet.

Late last month, Vernon Township zoning officials issued a demolition permit to the Meadville Mall's owner, Wexford-based Michael Joseph Development Co. The company plans to tear down the empty buildings on the Route 322 property within less than 90 days, leaving Kmart as its only current retail tenant.

"We will be issuing a statement next week" on what future plans for the property are, Michael Joseph partner Guy DiRienzo said Friday, declining further comment.

Township Chairman Robert Davis also declined to go into specific detail recently, but he did indicate that he and other officials have been in

regular contact with the company, and have been assured there are plans for a bold new development in the works.

"I've been working with them every week, every couple of days," Davis said. "They're moving ahead. They're very ashamed of the (current) situation over there."

Michael Joseph bought the once-thriving shopping center and an accompanying 48 acres of land from Zamias Services Inc. through bankruptcy for $2.5 million in 2005. Though the company at that time stated the mall would be undergoing an "extreme makeover," little has changed.

But "we have some great surprises coming," said Davis. "It's going to be the flower of our community."

Part of the problem with reviving the shopping center as it currently stands, according to Davis, is that the draw of a traditional shopping mall set-up like the property was first established as has gone by the wayside for most consumers as Wal-Mart and other one-stop big-box stores have become the norm.

To answer changing consumer expectations, Davis said -- still without going into specifics -- that Michael Joseph is planning a made-over development that will be a unique market draw that's not currently offered in the region.

"It's going to be sort of a niche" development, he said. "It's (going to be) something special that people will come here for."

Other township supervisors also recently said they're hopeful that the property will live up to its potential, and expressed confidence in the developer.

"I'm just elated that they're going to finally renovate that mall," said Supervisor Gary Wagner. "I think they waited this long because they wanted to do it right."

Vernon officials will have to approve any development plans for the site.

The mall's decline began to accelerate about eight years ago after it had been a shopping destination in the county for more than 20 years.

In the 1970s, the mall boasted two department stores -- Kmart and Montgomery Ward, a jewelry store, a drug store, a hardware store, a movie theater and a mix of other locally-owned and chain stores.

After plans to expand the mall on its south side fell through in the 1990s, the facility began to decline slowly.

The demise picked up speed in 2001 when Montgomery Ward moved out when the retail chain went bankrupt. Later, Sears planned to but then didn't open a store in Ward's location.

Other stores, one by one, began either to move from the mall or close outright, including Fashion Bug, Pearle Vision, Dollar General, GNC, National Record Mart and B. Dalton Booksellers.

Fashion Bug relocated to the Staples Plaza; David Jewelers, GNC and Pearle Vision all moved to Crawford Landing; National Record Mart, Payless Shoe Source and B. Dalton Booksellers closed outright.

The last major store to move, Dollar General, relocated from inside the mall to a free-standing site on the property along Route 19 in 2007.

-----

To see more of The Meadville Tribune, or to subscribe to the newspaper, go to http://www.meadvilletribune.com.

Copyright (c) 2008, The Meadville Tribune, Pa.

Distributed by McClatchy-Tribune Information Services.

For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.

NASDAQ-NMS:SHLD, NYSE:WMT, NYSE:LUX, NYSE:GNC, OtherOTC:NRMI,

A service of YellowBrix, Inc.



(0)
No Comments
Post Comment
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
   
 
 
 
 
   
 

  
Related Press Releases
Advertisement
Popular Articles
Advertisement
Partner Center
Fundamental data is provided by Zacks Investment Research, market data is provided by AlphaTrade. , and Commentary and Press Releases provided by Quotemedia