New mall owner ready for demolition, road work
29 Jul 2020
The former JC Penney and Younkers stores at Crossorads Mall will be knocked down soon as a transformation of the property begins in earnest.
Construction of two new roads through the mall site is expected to begin late this year.
Additionally, construction of a new tire store close to Fifth Avenue South may also get started late this year.
Eventually, the main building of the mall will be leveled, making way for a complex of stores, offices, apartments, a gas station, a medical facility and a hotel. A 10,000-square-foot green space will be created near the center of the property.
The entire complex will be known as Corridor Plaza.
That is the vision of Corridor Plaza LLC, an Ankeny firm that bought the mall in a $3.3 million deal that was closed in March. The property was purchased from Namdar Realty Group, Mason Asset Management and CH Capital, all of Great Neck, New York.
The former Sears store at the south end of the mall was demolished in late 2019.
Since then there hasn’t been any major work on the site. That is about to change.
”We are about 30 days away from starting demolition of Younkers and JC Penney,” BJ Stokesbary, a representative of Corridor Plaza LLC, said Tuesday evening.
JC Penney closed in 2017; Younkers was shuttered a year later.
Stokesbary said that when the demolition of the two structures is complete, work will begin on two new streets that will go through the site.Full article.