- Associated Press - Sunday, June 14, 2015

SPRINGDALE, Ohio (AP) - A $35 million revitalization project has begun at a regional shopping mall that has experienced reduced sales and traffic in the past two decades.

Tri-County Mall, in the Cincinnati suburb of Springdale, is working to complete major streetscape improvements and add and relocate tenants. The construction has begun on new buildings that will house a drive-thru Starbucks, a Chipotle and a Men’s Wearhouse, according to The Cincinnati Enquirer (https://cin.ci/1FZrYjW). An entrance near Macy’s also will be reconfigured to make it easier to access the store.

Existing mall tenants are extending lease commitments and interest among new prospects is high, said Michelle Quick, the mall’s general manager. Quick also spoke of the possibility of a new anchor store, but she declined to comment further until final leases are signed.

The mall that opened in 1960 has been a major shopping destination in the Cincinnati area and remains one of the region’s largest malls. But changes in demographics of mall shoppers, increased retail competition and the evolving industry have played a role in decreasing sales and traffic.

Christine Russell, Springdale’s economic development director, said a more modern look will improve the mall, giving it seem more like a lifestyle center.

“People are still determined to say Tri-County is a dead mall,” Russell said. “It’s not.”

Owners of malls and shopping centers around the country have been hurt by various factors, including too many properties chasing too few tenants, according to John-david Franklin, a Philadelphia-based senior vice president at Madison Marquette Real Estate Services. Franklin spoke to an International Council of Shopping Centers convention last month.

Singapore-based SingHaiyi Group Ltd. bought the mall out of foreclosure in July 2013 for $45 million and is financing the redevelopment.

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Information from: The Cincinnati Enquirer, https://www.enquirer.com


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