The Herald Banner, Greenville, TX

Top News

January 1, 2013

Mall redevelopment still at Crossroads

GREENVILLE — Developers say the renovation of Greenville’s only shopping mall is still in the works.

Exactly when most of the work on the transformation of Crossroads Mall will actually begin is yet to be determined.

Under an announcement issued in March, the City of Greenville wil partner with the owners of the shopping center at 6834 Wesley Street on a multi-million dollar redevelopment of the property.

Under the agreement, the city receives a portion of the increased sales taxes generated by the redevelopment of the mall, splitting the increase with the mall’s owners.

But aside from some minor demolition work conducted in August, there has been no sign of the project actually getting underway.

City of Greenville Public Information Officer Lori Philyaw said City Manager Steve Alexander has been in contact with officials from Crossroads Greenville Properties about the project, which is still planned.

“They didn’t want to be involved with something that would impact the tenants during the Christmas shopping season,” Philyaw said, adding that an update on the renovation effort is expected early this year.

Under the terms of the agreement with the City of Greenville, Crossroads Greenville Properties plans to invest approximately $11 million to transform the current traditional enclosed retail mall into a “Big Box” configuration, with larger retailers having access directly to the parking area.

Under the proposed plan, mall anchors Staples, Belk and JC Penney will remain at their current locations, while Bealls and Hibbett Sports will be relocated into newly created spaces, with the remainder of the leasable area occupied by retailers new to the project.

Improvements being planned include a new facade, relocation of leasable space to the front of the complex as well as improvements to the parking area and other aesthetic enhancements.

For its part, the City of Greenville will pay the developer grant payments calculated on anticipated sales tax increases.

The announcement said Crossroads Mall currently generates $23 million in annual taxable sales based on a five-year average. After the improvements are made, the project is estimated to generate $47 million in annual taxable sales. Under the agreement, the City will continue to collect 100 percent of the sales tax payments on the $23 million base which equates to an annual sales tax revenue of $316,250. The term of the agreement is 15 years and any additional sales tax generated from the project will be split equally between the City and the developer.

The agreement required the developer to begin construction on the project within six months and make an investment of $10 million within the first 18 months.

The mall opened in 1983.

1
Text Only
Top News
  • Unemployment March 2014.jpg Jobless numbers take big dip

    Hundreds of people found jobs locally last month, as Hunt County’s unemployment statistics fell to a six-year low.

    April 19, 2014 1 Photo

  • GCS flying high

    Greenville Christian School teachers found an entertaining way to learn about physics.

    April 19, 2014

  • Easter Bunny stock photo.jpg Following one busy Easter Bunny

    Easter egg hunts are scheduled in several locations across the area today and Sunday.

    April 19, 2014 1 Photo

  • Vaderrobot.jpg Dallas champions, Robowranglers look forward

    Practicing with the best hones skills and keeps members of Greenville High School Robowranglers on point, according to Director of Robotics Adrienne Emerson.
    The Robowranglers are preparing their robot “Vader” for the FIRST World Championships in St. Louis on April 23-26.

    April 18, 2014 1 Photo

  • Texas drougnt as of 4-17-2014.jpg Wet Easter Sunday possible

    It may be a wet Easter holiday in North Texas, as thunderstorms are again in the forecast for the weekend.

    April 17, 2014 1 Photo

  • Sheriff's Office Wanted fugitive captured in Ellis County

    April 17, 2014 1 Photo

  • Band1.jpg Roaring with pride

    The Greenville High School Lion Pride Band performs well under pressure, according to GHS band director Joel Weisburg

    April 17, 2014 1 Photo

  • Royce Tawater.jpg Shooting suspect changes mind on guilty pleas

    On second thought, a local man will leave it up to a jury to decide whether he is guilty of multiple charges in connection with two shootings in Greenville last summer.

    April 17, 2014 1 Photo

  • Easter Eggstravaganza stork photo.jpg A hunting we will go

    There will be lots of brightly colored eggs hidden in the grasses across Hunt County this weekend, and plenty of opportunities for children to find them.

    April 17, 2014 1 Photo

  • GEUS Operations Center.jpg Saying thanks to police

    The board of the local electric utility system intends to take time tonight to thank officers with the Greenville Police Department for catching suspects who allegedly broke into the company’s headquarters last month.

    April 17, 2014 1 Photo

House Ads
Featured Ads
Poll

What's your favorite spring high school sport?

Swimming and diving
Wrestling
Basketball
Soccer
Tennis
Golf
Track and Field
Softball
Baseball
     View Results
Facebook
AP Video
Captain of Sunken SKorean Ferry Arrested Raw: Fire Destroys 3 N.J. Beachfront Homes Raw: Pope Presides Over Good Friday Mass Raw: Space X Launches to Space Station Superheroes Descend on Capitol Mall Man Charged in Kansas City Highway Shootings Obama Awards Navy Football Trophy Anti-semitic Leaflets Posted in Eastern Ukraine Raw: Magnitude-7.2 Earthquake Shakes Mexico City Ceremony at MIT Remembers One of Boston's Finest Raw: Students Hurt in Colo. School Bus Crash Raw: Church Tries for Record With Chalk Jesus Raw: Faithful Celebrate Good Friday Worldwide Deadly Avalanche Sweeps Slopes of Mount Everest Police Arrest Suspect in Highway Shootings Drought Concerns May Hurt Lake Tourism Vermont Goat Meat Gives Refugees Taste of Home Calif. Investigators Re-construct Fatal Bus Cras Mayor Rob Ford Launches Re-election Campaign Appellate Court Hears Okla. Gay Marriage Case
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Real Estate News