The stage is set for the $65 million transformation of
Owings Mills Mall from an old-style enclosed shopping mall to an open-air town center.
The project will be a joint venture between Kimco Realty Corp. and General Growth Properties. Each company will have a 50 percent ownership stake in the newly redeveloped property.
The companies plan to tear down the current building in 2013 and complete it the following year. The developers will retain the AMC Movie Theater, JC Penney and Macy's and sign up a new mix of retail tenants and restaurants to the complex, including boutiques and junior anchor stores that face the street. The dated building has long been a fixture of the website
Deadmalls.com.
The Owings Mills Mall redevelopment project is one of several taking place in the Baltimore County town. The once-dormant Owings Mills Metro Centre project got a jumpstart in the summer with construction on a public library and community college branch. Greenberg Gibbons Commercial Corp. also said this month that it will bring Wegmans Food Markets as the lead tenant at the Foundry Row at Owings Mills, a redevelopment of the shuttered Solo Cup site.
Soures: General Growth Properties, Greenberg Gibbons Commercial Corp.
Writer: Amy McNeal