Here are the new plans for DeSoto Square mall property. Would you want to live there?
The owners of the DeSoto Square mall, facing a foreclosure trial in January, are proposing to demolish most of the mall property and redevelop it as a mixed-use development.
In papers filed with Manatee County, the mall owners proposed redeveloping the 57.86-acre mall property into 128,514 square-feet of retail — lifestyle center, a 40,000 square-foot grocery, 90,000-square-feet of office space and three retail outparcels, totaling 16,250-square feet.
Also planned: 360 units of residential — lifestyle center, 360 units of residential-garden homes, 150 units of senior housing, and two residential-amenity buildings.
The former Sears store area, where MGC Bradenton Sears LLC plans a ministorage facility, and the Hungry Howie’s Pizza building and parking lots are not included in the redevelopment plan.
“It is expected that the full build-out of the DeSoto Square Mall Redevelopment Project may take as long as 10 years to complete and include multiple builders/developers involved in various portions of the project,” Kimley Horn, the company that designed the Bradenton Riverwalk, wrote in a memorandum dated Nov. 22 to Manatee County Development Services.
“The proposed development will require the complete removal of the existing mall and infrastructure, under the control of the applicant (not including Sears), to incorporate the new development,” the memorandum states.
The memorandum also addresses historic flooding problems in the area and how those issues can be resolved with three proposed retention ponds and an expansion of the county-owned pond on a parcel north of and adjacent to mall property. New infrastructure would be constructed above the flood plain elevation.
DeSoto Square opened in 1973 at 303 301 Blvd. W., and often faced flooding problems during heavy rains.
City of Bradenton officials have considered whether they should continue to pursue a grocery store of their own on a long-vacant site at the corner of 13th Avenue West and First Street West, two miles from the mall. City council members were sure they had secured a contract with a grocer about five years ago, but the deal fell apart and no interest has been expressed since then.
In recent weeks, however, the city has considered making the property available to developers of affordable housing.
DeSoto Mall redevelopment project officials were scheduled to have a pre-application meeting with county staff on Dec. 6.
One major hurdle for those redevelopment plans is the foreclosure trial scheduled for Jan. 30 in the Manatee County Judicial Center in Bradenton.
Romspen U.S. Master Mortgage LP, , a Cayman Islands lender, brought the foreclosure action in 2017. Romspen put up more than $25.5 million for the purchase of the mall.
The new owners purchased the mall in April 2017 and still owes $21,789,102 million, according to the foreclosure suit.
Upon acquiring the 678,000-square-foot mall in 2017, the new owner announced ambitious redevelopment plans, including $5.1 million to construct a state-of-the-art, 28,752-square-foot movie theater theater.
Those plans failed to work out and the mall has continued to lose businesses, including anchor Sears and national brands, such as Victoria Secret.
Two years ago, Your Treasure House, took over 55,000-square-feet of space feet of space formerly occupied by Macy’s. Vendors offered thousands of items for sale there, including antiques, art and furniture.
A sign at Your Treasure House announces that the business is closing by Dec. 31 and relocating to Sarasota Square Mall, 8201 S. Tamiami Trail.
Mall staple Spencer Gifts is advertising that all of its fixtures and equipment are for sale.
Despite the problems, mall anchor JC Penney seemed to be doing brisk business this week.
After months of uncertainty about the future of the mall, January should bring some resolution with the foreclosure trial.
A half day has been set aside for the foreclosure trial, starting at 1:30 p.m. Jan. 30 in Courtroom 5-E of the Manatee County Judicial Center before Circuit Court Judge Charles Sniffen.
This story was originally published December 24, 2019 at 9:11 AM.
