The project could include retail, hotel, office, and residential properties, and generate more than $2 million per year in new city and county sales tax revenues, consultant says
Note: This story was last updated at 2 p.m.
The North Carolina company that wants to redevelop the Oak Ridge Mall has unveiled its site plan for the 60-acre property.
The $80 million redevelopment could include new retail, hotel, office, and residential properties. It would create almost 1,000 new jobs and increase annual city and county sales tax revenues by more than $2 million, according to an estimate by a city consultant.
The two remaining anchor stores at the 500,000-square-foot mall, JCPenney and Belk, would stay. So would Walmart and the Cinemark Tinseltown theater.
Meanwhile, the existing interior space between the anchor stores would be demolished. Previous mall redevelopment plans had also called for demolishing that interior retail space. [Read more…]