The Future
Although Southwest Center Mall faced bankruptcy in 2008 and ultimately went through foreclosure. The Woodmont Company was hired by the Bankruptcy Trustee to manage the facility. In August 2008, Woodmont hired a dynamic General Manager which in-turn created a team that truly revitalized the mall. The lender; Madison Capital picked up the property, Retail SWC Mall LLC was formed as a partner with Madison. The City of Dallas hired the ULI (Urban Land Institute) to assess the property and give their recommendations. The City of Dallas then paid to have the six month option to purchase the former J C Penney's building; they did not exercise their option. The former Dillard's building was being built out as a Fiesta Mundo and went into bankruptcy 2011. The General Manager created a partnership with the City, Community, Lender and Ownership to assist with the endeavor of turning the mall around. Much progress was made, then the General Manager resigned; Boxer followed as the management company. The former General Manager rejoin Southwest Center Mall in April 2011 and is charged with the final development and lease up (last 25%). Currently Southwest Center Mall is 80% occupied.
Read more about this topic: Southwest Center Mall
Famous quotes containing the word future:
“And all your future lies beneath your hat.”
—John Oldham (1653–1683)
“The final upshot of thinking is the exercise of volition, and of this thought no longer forms a part; but belief is only a stadium of mental action, an effect upon our nature due to thought, which will influence future thinking.”
—Charles Sanders Peirce (1839–1914)