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Jan 16, 2019
11:25:22am
cheezedawg All-American
Back before the great recession, they started building a mall in my city. In 2007 as trouble was looming, the developer
went bankrupt and abandoned the project leaving partially completed structures there. The property sat there for several years, changing owners a few times in the process until Howard Hughes Corporation bought it in 2014 and started talking about reviving the project. Its an eyesore, so the city is motivated to try to get the project done (probably more for the tax revenue...). The city gave HHC some sweetheart tax deal and stuff to get the project moving. Then, an obscure local Native American tribe announced that they had bought the land right next to this mall and were going through the Federal process to get that land declared to be tribal land so they could build a big casino/hotel/event center. I wasn't thrilled about a casino here, but it seemed like that project was finally going somewhere.

But the mall still sat there. Apparently, they had some contracts signed with tenants but wanted more before they started building. Prospective tenants, though, wanted assurances that the mall would be built before they signed any contracts.

So yesterday, Howard Hughes Corporation *finally* announces that they are going to... demolish the buildings and walk away... Oh well.

This message has been modified
Originally posted on Jan 16, 2019 at 11:25:22am
Message modified by cheezedawg on Jan 16, 2019 at 11:26:22am
cheezedawg
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cheezedawg
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