The Oak Ridge City Center, which could be redeveloped as a multi-use town center known as Main Street, is pictured above. Also known as the former Oak Ridge Mall, the L-shaped building is at center. The white building at center left is Walmart, and it is not part of the proposed redevelopment. Neither is the white building at center top, the Tinseltown Theater. (Photo by John Huotari/Oak Ridge Today)
Note: This story was updated at 5:30 p.m.
The subdivision plat for Main Street Oak Ridge, the redevelopment of the former Oak Ridge Mall, was on its way to the Anderson County Register of Deeds to be recorded on Tuesday afternoon, said Ray Evans, retail consultant for the City of Oak Ridge.
That means the attorneys for both the buyer and the seller were comfortable enough with their progress to have the plat recorded, Evans said.
Officials said last week that RealtyLink, the proposed developer, is on track to close on the sale of the roughly 60-acre mall site by the end of June. It’s currently owned by Oak Ridge City Center LLC.
The Oak Ridge Municipal Planning Commission added a lot to the subdivision plat for the proposed redevelopment in April, creating 11 interior lots. Officials said that requested change had to do with project financing, and it was a minor change from what was approved several months earlier.
As proposed, Main Street Oak Ridge, a project that could cost around $75 million total, would include a mix of retailers, restaurants, residential units, and possibly a hotel. The existing enclosed space between Belk and JCPenney, the two remaining anchor stores, would be demolished, although those two stores would remain.
RealtyLink said an agreement that the Oak Ridge City Council approved this month, authorizing the city manager to negotiate with the federal government if it ever gets rid of the 17.12-acre American Museum of Science and Energy site, was the last remaining hurdle. RealtyLink was concerned that any development at the AMSE site, which is across South Tulane Avenue from the mall site, could hurt Main Street Oak Ridge.
After talking to RealtyLink this spring, Oak Ridge Mayor Warren Gooch announced in May that Dick’s Sporting Goods, PetSmart, T.J. Maxx, and Ulta will have new stores at Main Street Oak Ridge. Also, Belk and JCPenney are renewing their leases at the 58-acre site, Gooch said during a State of the City speech to the League of Women Voters of Oak Ridge.
See previous Main Street Oak Ridge stories here.
More information will be added as it becomes available.
Copyright 2016 Oak Ridge Today. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Dave Smith says
It’s June 30. Is the ink drying on the sale closure documents?
johnhuotari says
We don’t have anything to report yet, Dave, but we will be following this story throughout the day and into the morning, and we will share any news we get as soon as we get it.
Thank you,
John
Dave Smith says
Thanks for responding.
IMHO, if the deal has fallen through again, we should change our strategy. Let’s forget the town center idea, which seems to have insurmountable obstacles (through no fault of our own, really) and go after an Amazon distribution center.
With a distribution center the COR can continue to supply jobs to the Knox metro area (our forte) and we’ll get millions in sales tax remittances.
johnhuotari says
I’m still working on this story this morning, Dave, and am hoping to hear something soon. (It’s about 8 a.m. now.)
Joseph Lee says
Wrong answer.
Dave Smith says
My sarcasm was insufficiently transparent.
Joseph Lee says
Yes.
johnhuotari says
Dave, I assume you saw our story on the Main Street Oak Ridge closing last week, but I’m posting this link here in case you didn’t: http://oakridgetoday.com/2016/07/01/mall-sale-has-closed-executive-says/
Dave Smith says
Yes, I did. Thank you for reporting the story.
johnhuotari says
You’re welcome, Dave.