The new mix of tenants has potential to bring approximately 2,000 construction and permanent jobs, Ellsworth said. But she wanted to get the word out now.
“The biggest thing I’ve seen here is in the silence people will make up what they want to hear,” said Ellsworth, who came to Cincinnati in December.
The Cincinnati Mall is 1.5 million square feet of building straddling Fairfield in Butler County and Forest Park in Hamilton County. Formerly known as Cincinnati Mills, its been through at least six owners, said Greg Kathman, Fairfield director of economic development.
Anchor tenants included Bass Pro Shop, Kohl’s, Babies “R” Us, Danbarry Cinemas and Burlington Coat Factory, and other retailers currently occupy about 500,000-square-feet. Most of the property is empty.
Kathman said the idea of a mixed used center with shopping, entertainment and dining is encouraging.
“The advantages they have is a lot of available space they can offer at reasonable rates,” he said. “The challenge will be finding the right tenant mix and paying for the buildout.”
It’ll be three to six before a major project breaks ground, depending on financing and permitting, Ellsworth said. But she said her company, World Properties LLC of New York, has the resources and has invested in the mall to keep it going since buying it March of last year. It’s a matter of funding for the third party, as the large projects are being approached as joint ventures.
Ellsworth said the location makes the mall attractive. They are using leasing incentives, such as starting leases at a lower price and increasing the price over time, to attract tenants in the meantime, she said.
“I think some people are apprehensive right now because they want to see someone go in first,” Ellsworth said.
Contact this reporter at (513) 705-2551 or clevingston@coxohio.com.
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