DALLAS (1080 KRLD) – The majority owner of Southwest Center Mall plans to bring a new hotel to the property in the near future. Peter Brodsky is outlining some of his goals for the shopping mall in south Dallas in the wake of a decision by Macy’s to close its store there.
“We’d rather have all businesses be thriving,” Brodsky says. “Given the fact that their business hasn’t been thriving, to me the closing is an opportunity to turn the page and have a fresh start”.
He has a contract in place to purchase that section of the mall. Unlike other shopping malls, many of the spaces within Southwest Center Mall had separate owners. Over the past few years, Brodsky has been purchasing those spaces.
He bought more than 300,000 square feet of the mall in 2015. The purchase of the Macy’s site will give him control of 80 acres of the 120 acre site.
Brodsky says the long-term goal for the property is to include a mixture of retail, office and residential space. He also has plans for a hotel on the site.
“We are partnering with Atlantic Hotels and Civitas Capital Group. They’re going to be taking about three acres of land on the property and putting up a 124-room hotel with 7,300 square feet of meeting space,” he said.
“We heard from the community the need for meeting space, we heard the need for a good hotel. We commissioned a study to determine what the demand would be, it came back very strong”.
He also plans to open a business incubator on the site with the Dallas Entrepreneur Center.
That non-profit group helps small business owners grow their companies by providing education and mentoring.
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