SANFORD, Fla. – Will a new year bring new life to the Seminole Towne Center mall in Sanford?
News 6 spoke to Felix Reznick with 4th Dimension Properties in May after Kohan Retail Investment Group, which had a controlling interest in the mall property, sold the majority stake. Then, in September the city of Sanford’s economic development director said they were hopeful a sale to Gilbane Development would be finalized during the holiday season. The new developer shared big plans for the property, but now that it’s 2025 the deal is still not done.
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Reznick said Thursday that Gilbane Development “terminated the contract a couple weeks ago.”
“The property is back up for sale,” said Reznick. “You know, we’re looking for someone to buy it as is, so we don’t have to go through a process.”
However, Brady Lessard, director of economic development for the city of Sanford, says the deal is still moving forward.
“There are a number of folks that have jumped in that are also interested in this,” said Lessard. “Gilbane, the group that we originally spoke about is working with some of those folks, but I would still anticipate the next month or two that you’re going to see new ownership here.”
The Seminole Towne Center mall first opened in 1995 and in its heyday featured anchor stores like Macy’s and Sears. Those have since closed, and these days the 1.1-million-square-foot mall is mostly empty.
Beyond Dillard’s, JCPenney, Dick’s Sporting Goods, and Elev8, the parking lots are vacant, and most stores are too. The ones that are still open see little foot traffic.
“The last few times I’ve come here it’s been very quiet, very slow,” said one shopper our News 6 crew spoke to Thursday.
“Especially being here during the Christmas season trying to shop it’s very depressing only seeing four shops open at a given time,” added another man.
So, what does that mean for the future of the property now?
Reznick said he’s hoping to leave the property in a better condition than when he stepped in in May.
“We’ve done everything we could as far as paying the taxes. We paid those ahead of time. Electric, water, that sort of stuff,” said Reznick. “It’s ready to go. If somebody has a good idea, maybe a multi-family, maybe a supermarket, maybe both. That would be great.”
Lessard says there is already excitement about the possibilities. He anticipates once a sale is finalized demolition will begin quickly. Anchor stores, like Dillard’s and Dick’s Sporting Goods which are owned separately, will stay the same.
“I will tell you the Elev8 folks, Dillard’s, there’s so much excitement for what’s on the horizon. California Pizza Kitchen’s coming in. Guy Fieri has a chicken concept coming in. So, there are some major, major players that are pre-positioning themselves to be here,” said Lessard. “Literally the owner of Elev8 is in New York today signing additional deals, so there’s exciting news to come.”
Lessard says the vision for the property’s future includes retail, residential, recreational, and commercial spaces.
“Some of the largest box retailers in the country have already pre-positioned themselves on where they want to be on this site,” said Lessard.
The Seminole Towne Center is a prime piece of real estate right next to I-4, S.R. 46, and many other stores and homes. It holds a lot of promise, which is why Lessard says revitalizing it is a priority for Sanford this year.
“We still have a buyer, and we still have a seller, and the future is very bright,” said Lessard.
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