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Richland Mall Redevelopment

lastweek

By lastweek
in Columbia

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xyhamiltonboi Whistle-Stop

xyhamiltonboi

Posted
Posted

Is this the mall you see next to Interstate 26 with the Belk and Dillard's or is this a different one? I don't get down to Columbia that much, so that's why i'm asking.

You're talking about Columbia's dominant mall Columbiana Centre. Columbiana is the mall at I-26 with the stores listed. Midtown at Forest Acres is a few miles off the interstate.

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citizen Crossroads

citizen

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Posted

I spoke with a person still in the project. The peerless group has messed up again. They couldnt close a deal to bring new money in. Until the old dillards is seperated from the rest of the mall nothing can happen. No investers are willing to tackle the project because the mall is so in debt.

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CorgiMatt Town

CorgiMatt

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A new headline just published at thestate.com says Richland Mall will be sold at an auction because the current owner wasn't making payments and the property has gone into foreclosure, but customers shouldn't notice any changes during the transition.

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waccamatt Town

waccamatt

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A new headline just published at thestate.com says Richland Mall will be sold at an auction because the current owner wasn't making payments and the property has gone into foreclosure, but customers shouldn't notice any changes during the transition.

How unfortunate; maybe we could all go in together and buy it?

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Temeteron Burg

Temeteron

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Posted

From what I can remember, these are the stores that once existed but no longer do in Midtown @ Forest Acres(Richland Mall):

Eckerd

Dillard's

Parisian

Express

Structure

Limited

Victoria's Secret

Babbage's

Bombay Company

Gloria Jean's Coffee

Disc Jockey Music

Sam Goody

Dollar Tree

Briar Patch

Hair Cuttery

Claire's

Talbot's

Original Cookie

WaldenBooks

BlockBuster Music

Sunglass Hut

Not sure if the Movie Theatre is still open up top?? Haven't been there in years!

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waccamatt Town

waccamatt

Posted
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The theaters are still there and they were quite busy the last time I was there. A developer with deep pockets and the right ideas could turn Richland Mall into qute an interesting development. The base is already there with the call center, Belks, the theaters, TGI Fridays and Barnes and Noble. If the hotel came to fruition it wouldn't be far off from becoming a nice mixed-use development. I think it really needs residential, more office space and a little more retail.

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screainz Crossroads

screainz

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How unfortunate; maybe we could all go in together and buy it?

I don't think it would be worth it. They have nearly $40 million in leins against it from what I understand. Also, Fridays, Verizon, and BOA are separate, so you wouldn't get that space included in the deal, so you couldn't just demolish it and put something nice in. With Belk's crazy deal, they probably don't pay a dime in rent. Not sure if it's only rumor, but I heard a similar deal was made for Fridays, and that they pay NOTHING unless the mall is at least at a certain occupancy. I wonder if that is still true, as Friday's spot was sold for 5 Mil, Verizon's 22Mil, and I forget about BOA's, I think a little more than half a million, at least according to Richland county tax records.

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GMoxley Whistle-Stop

GMoxley

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I don't think it would be worth it. They have nearly $40 million in leins against it from what I understand. Also, Fridays, Verizon, and BOA are separate, so you wouldn't get that space included in the deal, so you couldn't just demolish it and put something nice in. With Belk's crazy deal, they probably don't pay a dime in rent. Not sure if it's only rumor, but I heard a similar deal was made for Fridays, and that they pay NOTHING unless the mall is at least at a certain occupancy. I wonder if that is still true, as Friday's spot was sold for 5 Mil, Verizon's 22Mil, and I forget about BOA's, I think a little more than half a million, at least according to Richland county tax records.

The foreclosure sale will clear all the mortgage liens on the property. Of course, that probably means the banks will on be getting cents on the dollar. The new owner will take the property free and clear of mortage liens. There may, however, still be some mechanics liens on the property that will remain (I need to check out the law to be sure though).

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Mr.Marc Hamlet

Mr.Marc

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What are the store rents like there? High rents killed Woodhill Mall...

But look at how nice it looks now. However, I hope the same doesn't happen to Richland as I would like for it to remain an enclosed mall. I really hope a good development group buys it and does something spectacular with it this time around. I'm still praying for Simon properties to buy it ;) .

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emerging.me Burg

emerging.me

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But look at how nice it looks now. However, I hope the same doesn't happen to Richland as I would like for it to remain an enclosed mall. I really hope a good development group buys it and does something spectacular with it this time around. I'm still praying for Simon properties to buy it ;) .

It might also be a decent place for a Post Properties type of development.

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antiks Crossroads

antiks

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Posted

Yes it was, the anchors were Target, Tapps and Louries and it was a little smaller than Dutch Square.

Plus a VERY nice Berry's On Main.....A great local department store!!..............at the inside corner.

That was a very tough time for the retail industry! Many dept. stores bit the dust in that period.

Berry's (BOM) had stores all over Columbia..........and they were great!

By the way, it's my opinion that the main reason Richland Mall has failed in all it's reincarnations is the lack of its "original aroma"! Does anyone else remember Mr. Poppers? They made caramel popcorn every day and blew that aroma into the common area. Great smell (and no calories) great marketting....................buzz marketing 35 years before the term was invented.

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