The sale of the Oak Ridge Mall closed Thursday, June 30, 2016, and executives from RealtyLink, the developer of Main Street Oak Ridge, were at the 58-acre site on Tuesday, July 5, planning for the demolition of enclosed spaces between Belk and JCPenney, the two remaining anchors. From left are Matt Usry, RealtyLink project manager; Brett Rogers, RealtyLink construction director; and Brad Gunn, RealtyLink property manager. (Photo by John Huotari/Oak Ridge Today)
The groundbreaking for Main Street Oak Ridge has been scheduled for 2 p.m. July 20, City Manager Mark Watson said Monday.
Main Street Oak Ridge is the 58-acre project to redevelop the former Oak Ridge Mall.
Executives from RealtyLink, the Greenville, South Carolina, company redeveloping the mall, have said demolition machinery could be at the site the week of July 18.
Watson said the July 20 groundbreaking has been confirmed with RealtyLink Principal Neil Wilson.
Watson announced the groundbreaking, which will be open to the public, during the Monday night Oak Ridge City Council meeting as a “save the date” event.
RealtyLink closed on the property on Thursday, June 30, purchasing it for $6.3 million from Oak Ridge City Center LLC. RealtyLink executives were in Oak Ridge last week, and among other things, they met with the city staff and contractors and subcontractors to discuss demolition and construction.
The Main Street Oak Ridge redevelopment could cost $75 million total, and it could include retailers, restaurants, residential units, and possibly a hotel.
Officials have said that Belk and JCPenney are renewing their leases, and the new stores that have been announced are Dick’s Sporting Goods, Electronic Express, Maurice’s, PetSmart, Rack Room, Rue 21, T.J. Maxx, and Ulta.
Construction of new stores, which are expected to open in the spring of 2017, could start near Belk in October as part of the $46 million first all-retail phase of the project. The first four stores to be built, adjacent to Belk, will be Maurice’s, Rack Room, Rue 21, and Ulta. Construction on Dick’s Sporting Goods and T.J. Maxx, which will be adjacent to Walmart, will start soon after that.
RealtyLink also has leases with Electronic Express and PetSmart. Those stores will be located on the JCPenney side of the property.
The second phase of the project could include restaurants and residential units and maybe service companies like insurance agencies and dry cleaners.
Wilson has said the company has a contract with a Marriott-brand hotel and is selling them land. The hotel could open sometime next year, Wilson said.
The new property owner is TN Oak Ridge Rutgers LLC, a company set up by RealtyLink.
See previous Main Street Oak Ridge stories here.
More information will be added as it becomes available.
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