Neil Wilson, left, principal of RealtyLink, gives an update on the redevelopment of the former Oak Ridge Mall at an Oak Ridge Chamber of Commerce Rise and Shine at TNBank on Tuesday, Nov. 3, 2015. (Photo by John Huotari/Oak Ridge Today)
Note: This story was last updated at 9:30 a.m. Dec. 15.
The new company leading the redevelopment of the former Oak Ridge Mall won’t close on the property on Tuesday, and the closing could be pushed into January, officials said this month.
But it’s nothing to be concerned about, one official said Monday, adding that there are many pre-closing activities to accomplish in a short period of time, some in series.
“There have been no holdups, just a lot to do,” said Ray Evans, retail consultant for the City of Oak Ridge. “As an example, a subdivision plat has to be approved by the Planning Commission prior to closing. In order for the plat to be prepared, the property had to be re-surveyed. The new survey stakes are very apparent around the property. The plat was submitted yesterday (Monday). It will likely go before the Planning Commission at its meeting on January 7.”
Evans said RealtyLink has had geotechnical staff on site doing core borings during the past few weeks.
“In addition, they have been working on completing the environmental work,” he said.
Officials said RealtyLink and its contractor remain committed to having stores open for seven of the new tenants for the 2016 Christmas season.
The new developer, RealtyLink, had said in early November that it planned to close on the property on December 15. That was the first time a closing date has been announced by one of the developers associated with the project.
But earlier this month, officials said the closing date could be pushed into early January.
During a December 7 meeting of the Oak Ridge Industrial Development Board, officials said work continues with the senior lender on the proposed $80 million redevelopment as well as with a local group of financial institutions that will lend money for work that will use tax increment financing, also known as a TIF. Also, officials said leases are being finalized on the 60-acre mixed-use redevelopment in the center of Oak Ridge.
“I think we are as far along as we can be at this point,†said David Bradshaw, Oak Ridge city president for CapitalMark Bank and Trust, the lead bank in the TIF lending group.
Even if the closing doesn’t happen on December 15, as had been announced, it’s not just another delay, Evans said. He pointed out that RealtyLink’s only been involved in the project for about 90 days, and the company has had to go out and renegotiate leases and get more leases.
“My opinion is: They’ve done a phenomenal job of getting to where they are,†Evans said.
RealtyLink, which took over as master developer in September, plans to have a minimum of seven stores open by Christmas 2016, Principal Neil Wilson said in early November. That would include four stores adjacent to Belk and two adjacent to Walmart.
Officials said demolition could start in January, and signs could be erected soon at the site of the proposed redevelopment, to be called Main Street Oak Ridge. Large survey stakes are visible around the property now, and there are two cleanup dumpsters stationed near JCPenney.
As proposed, Main Street Oak Ridge would redevelop the former, mostly empty Oak Ridge Mall in a $80 million project that could include a mix of retail, restaurants, and residential units, possibly including a hotel. The vacant enclosed space between the two remaining anchors, JCPenney and Belk, would be demolished, although those two stores would remain.
The former developer, Crosland Southeast, had announced a series of steps this year, including pre-demolition activities and roughly $500,000 worth of pledges from six local employers to help cover public infrastructure costs.
The $13 million tax increment financing, or TIF, package has already been approved for the project. The TIF, which has had some minor changes since RealtyLink took over, would help cover development costs using new property tax revenues generated at the site. The change in property taxes in a designated economic impact area would be used to repay the TIF loan.
Besides CapitalMark Bank and Trust, the TIF lending group includes TNBank and First National Bank of Tennessee.
A site plan for Main Street Oak Ridge was approved by the Oak Ridge Municipal Planning Commission in August, and officials said then that an application had been submitted for a demolition permit.
Wilson declined to name the stores that plan to open by Christmas 2016, but he said Main Street Oak Ridge could include a sporting goods store, a cosmetics retailer, one or two apparel merchants, and a 20,000-square-foot electronics shop that has signed a letter of intent. There could be a total of about 150,000 square feet of retail in those stores, Wilson said during a November 3 Rise and Shine talk sponsored by the Oak Ridge Chamber of Commerce at TNBank.
There are now roughly 130,000 square feet of retail at JCPenney and Belk, which will have a new facade and entrance.
Wilson said his company, which is based in Greenville, South Carolina, wants to start demolition on the enclosed spaces between Belk and JCPenney the day after it closes on the purchase of the property.
Crosland Southeast is a North Carolina firm that had worked on the redevelopment project for more than two years and invested more than $1 million.
More information will be added as it becomes available.
Copyright 2015 Oak Ridge Today. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Raymond Charles Kircher says
I see they still haven’t taken care of the problem. There isn’t anything honest about this project.
Will Smith says
You should still be readying your response when the demolition activities do start. Btw, who do you think is being dishonest? The survey stakes exist, a certain prerequisite to closing the sale. You must think it’s easy to borrow $80 million. Or sign up companies to lease the available space. What is easy is for people like you to make snarky, unprovable and unsubstantiated comments and accusations..
Raymond Charles Kircher says
You have stalked me with your lousy attacks and childish remarks constantly telling me next time they will get it. Well again, parasite Smith, you are very wrong, delusional, and too chicken to get upset about your failed dates and take it to city council. You do remind me of the people involved with this project. So a bank is why you cannot even get a date correct? That would be David Bradshaw, he isn’t saying that at all; in fact he is saying the number hasn’t been set, notice the word proposed. Will Smith, you are a fake name with fake dates and fake promises. Time has proven my comments to be true, and you hate that you are too stupid to know what is going on. Why isn’t all the information about the deal on the table for the citizens and this so called Citizen Will to see? My pseudo tick, you are not honest about a damn thing. You are a liar and have no clue how to build a large project with complications of a very strong WalMart covenant. Will, why haven’t you come up to city council and ask them why they, after showing their inexperience as a manager with their anger about Jackass Square, are unable to find any emotion about these missed dates of starting to remove this shuttered mall. More news is coming, and OakRidgers are not getting the truth. People, there is no plan for a new mall in Oak Ridge, they are lying to you. There are no plans viable with the current conditions at the shuttered mall, and your elected officials are content with that. Why is that? Why is it that all this money we put into a mall project, which is in the hundreds of thousands of dollars a year in resources and employee hours, our city council is okay with that but not putting money into keeping a golf course? We are being ripped off with our current leadership. Arnsdorf paid $6M for it. Let that sink in for a while Oak Ridgers.
Will Smith says
What a nonsensical, disconnected mishmash. But that is what marks a normal response from Mr. Kircher. Just like his past pronouncements about the “privatization” of the marina pavilion ( didn’t happen), the construction of a Walmart on Pellissippi (and if I recall correctly, the closure of the OR store – which of course, didn’t happen), and the construction of a road through Clark Center Park to west Knox county (which won’t happen), time will again provide the proof of his warped version of the world. It will be interesting to watch his response (and the response of all the other naysayers) when the details do get squared away and the mall property redevelopment proceeds.
Raymond Charles Kircher says
Being correct is now disconnected. See, you don’t give credit where credit is due. And certainly the information coming about this project is deserving of no credit, just look at the track record. So you disagree with another entrance for ORNL, that must mean you are with the Fleischman group who wants to move ORNL to Chattanooga. LOL! Yeah, I see where your vision lays, a shuttered government facility. Great Work Oak Ridge Leadership!
Will Smith says
Another entrance to ORNL? It was just a short time ago that you complained about the danger of commuting on Pellissippi. Not to mention that such a road would destroy Clark Center Park and give even more people the opportunity to live outside of Oak Ridge, taking their earnings with them. You are quite a jewel, Mr. Kircher.
Raymond Charles Kircher says
So you don’t want to expand the use of ORNL? You want to cram everyone behind the fence like it was in the 1950’s and 1960’s? If they added the Pellissippi entrance to Oak Ridge because of congestion then, how much congestion do you need for another entrance to ORNL?
You’re a foul one, Mr. Smith.
You’re a nasty, wasty skunk.
Your heart is full of unwashed socks
Your soul is full of gunk.
Mr. Smith.
The three words that best describe you, are as follows, and I quote:
Stink, stank, stunk!
Will Smith says
Pellissippi was built to provide better, faster access to West Knoxville and the airport, not because of “congestion”. It has turned out to be one of the worst things to ever happen to Oak Ridge since it opened up all of the then vacant land in West Knoxville to housing development, enabling people to build new houses (rather than buy the WWII housing stock available in Oak Ridge) and still work in Oak Ridge. There isn’t a significant quantity of empty lots left in the city for new construction (I don’t count the many unsold lots out past K-25 since they, in reality, are hardly “in the city”). For many home buyers, the choice was and is unfortunately an easy one. Buy a new house in West Knoxville with a relatively easy commute, or a 50-70 year old house in Oak Ridge? It isn’t rocket science.
Raymond Charles Kircher says
You are wrong. Fake people make up fake excuses. Oak Ridge Hwy was at its worst. If there were no congestion, there would have been no reason to build the road to I-40 and then decades later to the airport. Will, go suck on your sauerkraut till the new year.
Will Smith says
Er, Mr. Kircher, Oak Ridge Highway did not lead to West Knoxville, or to the Interstate. And yes, it took a while to complete the road to the airport, and the State is still working on extending it even further into Blount County. None of that changes what the road did to the Oak Ridge economy.
Raymond Charles Kircher says
You are lost or not from around here.
johnhuotari says
Will,
Can you call me at (865) 951-9692?
Thank you,
John
Raymond Charles Kircher says
When I get back with Nashville after the New Year, I will know more, but as it stands last time I looked, the January date is not going to happen also after all these people who are courting Oak Ridge for a tax write-off this holiday season. The players want more TIF and less retail stores. OakRidgers, we cannot control this, it is in the hands of corporations. Don’t fall for these lies coming from this project and our elected officials and their minions. Instead have our elected officials work on a commercial land bank to sell off the shuttered mall or eminent domain part of the shuttered mall to connect the Main Streets to WalMart and the main entrance to the shuttered mall. The plan to quarantine WalMart has failed, and now they are looking at your pockets OakRidgers.
The word in corporate America is that Oak Ridge leaders have also shot off their other foot by being so generous to such low income and revenue job sites. If the city council gave so much for just a restaurant, the CEO’s don’t believe their offer, I don’t blame them considering who it comes from, is a true representation of what retail is worth to a city. Looking at our city, many people in leadership position should help our city by pledging to a New Year resolution by not eating as much.
Will Smith says
My, my, you have the ear of “corporate America”? What a laugh. If nothing else you remain entertaining, Mr. Kircher.
Raymond Charles Kircher says
My sources have proven correct, and my sources says Billy Casper is the only golf management team who will work with Oak Ridge. Now that says something.
Joseph Lee says
Ray, next time take the blue pill.
Raymond Charles Kircher says
You need all them they make, so help yourself. You are a drug pusher Joe Lee, I think I’ll report you.
Joseph Lee says
Ray. I talked with Morpheus. He has worked it out with Agent Smith and they are willing to place your body back in the power plant due to the high volume of hot air you generate. However, you will need to activate the trace program to begin the process. Take the blue pill, now. Thank you and goodbye.
Raymond Charles Kircher says
So when are you going to run for City Council? It is apparent you are here just to fill a city board. Nice! This kind of leadership will certainly attract more hood members.
“Ray. I talked with Morpheus. He has worked it out with Agent Smith and they are willing to place your body back in the power plant due to the high volume of hot air you generate. However, you will need to activate the trace program to begin the process. Take the blue pill, now. Thank you and goodbye. “
Joseph Lee says
Raymond, To activate the trace program take the blue pill. We can hear you but no one cares what you are saying. To locate your heat signature you must take the blue pill. Please don’t keep Agent Smith waiting. Thank you.
Will Smith says
Somehow, since Billy Casper renewed the contract 5 years age, and has it for another 5 years, I sort of doubt that any other company has been consulted. And even so, I doubt you heard such a thing directly from any of those management companies, and one group of specialty management companies hardly represent “corporate America”. Maybe you should stop listening to those mysterious little voices in your head, Mr. Kircher.
Raymond Charles Kircher says
Doesn’t make them wrong, which your sources have lied and deceived. You are stuck on stupid my faux poster of Oak Ridge Today.
Will Smith says
And as you obviously prove time and time again, you just make stuff up as you go along.
Raymond Charles Kircher says
And your ears have heard news of deception and thieves, yet you say not a peep. You have no plans that a debt concerned public would want to see, which is your fault saying all these years the city has no money, another lie, and I know why. If you want to understand your mistake, just review all the TIFs and PILTs by City of Oak Ridge. All set a precedence and many developers are saying no to Oak Ridge because of the poor decisions leaders here have made with our money. Are you still blaming David Bradshaw for the failure of this date? If it was up to David Bradshaw to make this project happen on those past dates and developers, that is your problem. He wasn’t much of a mayor yet using the same plan we have here today. Take a tip my parasite, your leaders are your problem for this project, and that is how they want it. Your promise of any type of shopping mall experience is not going to happen, no matter how much you cry. You milking this for your family and friends who receive corporate welfare bonuses from the City of Oak Ridge is the reason why your name is fake. If laughing makes you feel better, how is it going to feel when you don’t increase the TIF and produce less stores for more ratepayer money than what it would have taken to put a Target on the mount? Next I see city council yet again giving away TIF for a low income and low revenue retail. Now look for who is laughing at the intelligence of Oak Ridge Leadership, and they didn’t tell a joke.
Oak Ridgers, our leadership is at a stalemate, refer to moving city center by David Bradshaw, to WalMart covenant, and tally the amount of TIFs and PILTs to how long before those properties will be equitable to Oak Ridge ratepayers. The power of our money where they sold your dollars for penny stores is in the RED.
Will Smith says
First, I have never blamed David Bradshaw for anything. Second there was no increase in the TIF, no matter how many times you say there was. Third, I never promised a “shopping mall experience”. In fact, there isn’t going to be a “shopping mall” built on the property. No one has ever said there was, except maybe you. Those little voices in your head just continue to bedevil you, don’t they?
johnhuotari says
Hi, Raymond. You have said several times that the mall redevelopers want more TIF and less retail.
I have attended most of the meetings on the mall redevelopment (I think I’ve only missed one or two), and I’ve don’t recall anyone ever proposing a larger TIF. As far as I can recall, it’s always been $13 million or it’s been that same amount for quite a while.
Also, as we’ve reported several times on Oak Ridge Today, RealtyLink, the new developer, has proposed a slight increase in the amount of retail, not a decrease. The most recent number I have is about another 60,000 square feet of retail.
I hope that helps.
Thank you.
John
Jason Allison says
Another 5 or 10 delays then another pull out. Why should we be concerned??