The new owners of Tri-County Mall have a $30 million budget for the first phase of the shopping center’s revitalization project, general manager Michael Lyons told WCPO in an exclusive interview at the International Council of Shopping Centers convention in Las Vegas.
“It’s not cheap,” Lyons said. “We’re looking to bring the right tenants in and looking to add the right aesthetic elements that come with a lifestyle center. So that comes with a cost and this ownership has gained an understanding of that cost and they have the ability to pull it off. “
The company has previously announced plans to bring a hotel and new retail tenants to the mall but hasn’t revealed cost estimates until now. The latest design elements were first disclosed to retailers two weeks ago. This is the first time they’ve been released to any media outlet.
Become a WCPO Insider to learn why the leasing team at Tri-County Mall thinks the revival is likely and what one national expert has to say about that.