Future Developments
Mall official announced in 2008 that the mall planned to undergo an extensive renovation, projected to cost $53 million. As part of a deal with the city, Broomfield would commit almost $26 million to reimburse Macerich if the project moved ahead. However, the recession delayed this project, and as of 2009, it was put on hold indefinitely.
Many tenant changes are expected in 2011; the mall opened in the year 2000 and 10-year leases are set to expire. Major brands such as McDonald's and Cinnabon, as well as other retailer and restaurants, have decided not to renew their agreements. Mall spokesmen have stated that tenant changes are a natural process for shopping centers. However, others believe the mall is on a downtrend; adding to their view is the fact that no replacements have been found for some of the stores planning to close.
Read more about this topic: Flatiron Crossing Mall
Famous quotes containing the words future and/or developments:
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—Victor Hugo (1802–1885)
“The developments in the North were those loosely embraced in the term modernization and included urbanization, industrialization, and mechanization. While those changes went forward apace, the antebellum South changed comparatively little, clinging to its rural, agricultural, labor-intensive economy and its traditional folk culture.”
—C. Vann Woodward (b. 1908)