Useless shopping mall in southwest Ohio could develop into small business park right after order

Traditionally, a organization park is a progress that can consist of a number of structures that can be made use of for a variety of distinct reasons this kind of as workplace space.

Dean Miller, the senior vice president, of ICP indicated in the information launch on Wednesday that they system to convert the Higher Valley Shopping mall into a company park.

“Our firm has considerable knowledge with retail conversions and we assume our design for repurposing these facilities into business enterprise parks will be very productive at the Upper Valley Shopping mall,” Miller said.

“The locale, demographics and amenities in Springfield are very well suited for our redevelopment designs,” he extra.

On the other hand, it is unclear when redevelopment would start on the shopping mall home or when it would operate as a business enterprise park.

Representatives of ICP did not reply to a request for supplemental remark as of Wednesday afternoon.

Clark County officials declared in April that the Upper Valley Mall would shutter its doorways for great on June 16.

Clark County commissioners and the Clark County Land Reutilization Company, normally acknowledged as the Land Financial institution, created the decision to explore other chances for the assets because of to the loss of anchor tenants in excess of the previous ten years.

Opened in 1971, the mall was the moment a hub of retail in Clark County but that has modified in excess of time as longtime anchors like JCPenney, Sears, Macy’s, along with quite a few scaled-down chains, have since shut.

County Commissioners beforehand backed a $3 million personal loan in 2018 to make it possible for the land bank to acquire the residence. The land bank has operated the residence as perfectly as the shopping mall as it seemed for interested developers.

Clark County Commissioner Melanie Flax Wilt reported that what ICP has in shop for the Upper Valley Shopping mall is what the county was hoping for when it took ownership of the residence in 2018.

“This will use the existing composition as a basis for improvement, create new jobs, and assist the remaining retail economic system on Higher Valley Pike by bringing additional persons to the spot,” Wilt said.

Specifics & Figures:

1971: 12 months the Higher Valley Mall opened

13: Storefronts functioning at the Higher Valley Mall as of April

$2.25M: Purchase value Ohio-primarily based developer Industrial Business Properties has agreed to for the home