Usually these malls are owned by one of a small number of chains. If it is independently owned and in bankruptcy it could be a steal to buy it. It has great potential given the gentifrication of everything around it, and all it really needs is a water moat [sp] and guard towers like old castles used to have to seal off any of the riff-raff wandering in from the bus stops on the north side of the mall. It's the urban bus traffic there that ruined it, just as the installation of a bus stop ruined a similar mall on Walzum in San Antonio. Just goes to show you that if you're going to have public transportation that the routes need to keep the the riff-raff in their own hoods. Bus routes in the hood need to not link up with buses that go to places where hood-dwellers will ruin everything. Originally Posted by theaustinescortsThe San Antonio mall your are referring to was Windsor Park Mall at IH 35 and Walzem Road. The bus stop had been there for years before the start of the mall's downfall. The downfall started after a shootout between gangs occurred at that bus stop, killing an innocent bystander. A young mother who was simply waiting there for her bus to go home. It was a major news story that occupied the TV stations and the newspapers for months. The developer of the the mall immediately had the bus stop removed, not just from Windsor Park but from their other mall here in town as well. It was a dark cloud that the mall could never shake loose. Even after two major renovations and the addition of the Bexar County Sheriff's office location, the decline continued. Tenants kept moving out. It was only a matter of time before the place was empty. It is now just a big mostly empty building. However, Rackspace has moved in to one part of it and plans on expanding. We will see.
I guess you folks know that ACC has bought about 1/2 of Highland mall? They now own the end that used to be Dillards and it will be offices for ACC.. YOUR TAX $$$ AT WORK! Isn't it just great how hard we have to work to pay the taxes that buy up retail property for Gov use, which pays NO TAXES. Just more real estate taken off the tax rolls at the tax payers expense. Much of N. Airport is now owned by Gov agencies. What a great country!!!! Every year I pay property taxes that amount to 1/3 of my original purchase price for my home. We need to start our own gov agency, or better yet, start a religion!!!! Originally Posted by nugletIf they got the office space at a cheap price per square foot, that's a good thing vs. them building new office space or buying/renting it at a more expensive price elsewhere.
Usually these malls are owned by one of a small number of chains. If it is independently owned and in bankruptcy it could be a steal to buy it. It has great potential given the gentifrication of everything around it, and all it really needs is a water moat [sp] and guard towers like old castles used to have to seal off any of the riff-raff wandering in from the bus stops on the north side of the mall. It's the urban bus traffic there that ruined it, just as the installation of a bus stop ruined a similar mall on Walzum in San Antonio. Just goes to show you that if you're going to have public transportation that the routes need to keep the the riff-raff in their own hoods. Bus routes in the hood need to not link up with buses that go to places where hood-dwellers will ruin everything. Originally Posted by theaustinescortsThere may be some validity in what you say, but enclosed malls are dying everywhere even if they don't become hangouts for the hood. It's just not as "cool" to hang out at the mall any more. Strip centers or standalone stores seem to be the in thing these days.