When the redevelopment of the former Oak Ridge Mall is discussed, it’s not unusual to hear residents ask questions or raise concerns about the so-called Walmart covenants. Those are probably the most frequently cited covenants or restrictions in place at the former mall site.
But they’re not the only ones. Oak Ridge retail consultant Ray Evans said Cinemark Tinseltown theater, JCPenney, Belk, and Staples also have rights on the site redevelopment plan. As an example, some rights are related to not interfering with some nearby parking or roadways at certain times of the year.
Evans said it’s not true that the Walmart covenants have prevented redevelopment of the property. More generally, it’s not unusual in a redevelopment to have many people who have lots of rights, Evans said.
He said the Walmart covenants had no impact on the proposed redevelopment by RealtyLink, a project known as Main Street Oak Ridge. In fact, he thinks RealtyLink would probably say that Walmart was easy to work with, Evans said. [Read more…]