The buyer of the Great Northern Mall and the Onondaga County Executive say an official real estate closing date is nearing, along with plans to redevelop the site to accommodate Micron’s workforce. While the sale should go through by mid-July, it might be at least five years before any significant changes are seen to the property along Route 31 in the Town of Clay.
County Executive Ryan McMahon explains that a city center housing complex and more is the ultimate vision.
"Creating Town Centers — walkable communities where people can live — can potentially work," McMahon said. "But, they can go and have all of the amenities they need ... whether it's going to the gym, coffee shop, going to see their doctor, getting their haircut, going to the dry cleaner. This is what's done in successful communities."
The purchase price of the property is under $10 million but, the amount is subject to confidentiality agreements and therefore the full purchase price won’t be disclosed until after the closing. Developer Guy Hart seeks development partners who can secure additional financing, saying the old mall and site will be redeveloped in different phases.
"I can disclose that we are down to a couple of companies that we've been talking to that have specific experience in executing on large scale projects like this," Hart said.
As for current mall tenants and portions of the mall either owned or utilized by other businesses, Hart says his team will be having future conversations. The majority of the mall will remain closed. Although nearby businesses like Olive Garden will remain in place and are not a part of the deal.