Burlington mall to be sold, redeveloped
BURLINGTON — The Burlington Town Center mall is going to be bought and redeveloped by two principals, one of whom grew up in Burlington, the mall’s general manager said Friday.
The mall has been owned by Chicago-based General Growth Properties for more than seven years.
General Manager Mathew Chabot told the City Council on Thursday that the mall is being bought by owners with “very strong ties” to the area.
Mayor Miro Weinberger said Friday he had met the prospective new owners of the mall, located near the north end of the Church Street pedestrian area along Cherry Street.
“The plans, as far as I know, are fairly preliminary,” the mayor said. “I will say if this all unfolds as I believe the new buyers are planning, it’s exciting for the city. It will be a transformational change for Cherry Street, something that has been a goal of the city for some time.”
Chabot told the Burlington Free Press on Friday that the current owner of the mall put out a request for proposals to buy it in August 2012. The company took the mall off the market in January before entering into the deal that resulted in its sale, he said.
The sale is under contract to close Dec. 16, Chabot said.MORE IN This Just InEmployers, beware. Full Story
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