SANFORD, Fla. – Although a deal to purchase the Seminole Towne Center remains unfinalized, interior stores at the Sanford mall have been notified that they must close by the end of the month, city officials told News 6 on Thursday.
The city of Sanford said the merchants were informed by the potential buyer and seller that the Seminole Towne Center will close by Jan. 31.
The city on Thursday afternoon issued a new statement about the mall.
“It is important to note, the City of Sanford has no authority to intervene in these civil matters. To make these transitions as smooth as possible, the City of Sanford is committed to working with a number of the small businesses in the mall, to assist them in relocating to new permanent locations,” the statement, in part, said.
Dillard’s, JC Penney, Dick’s Sporting Goods and Elev8 Fun Orlando-Sanford will remain open, which has always been a part of the plan.
The Seminole Towne Center area is valued at $45 million and is located on a prime piece of real estate next to Interstate 4, State Road 46 and many other stores and homes. The redevelopment program would increase the value to $500 million, the city said.
Sanford officials said the scope of the redevelopment project has grown and different capital partners are getting involved, which is why the deal has yet to be completed.
“We had been hoping for the Gilbane Company to conclude their purchase of the Seminole Towne Center Mall, January 15th,” the city of Sanford said in a statement. “It does not appear that Gilbane will be the lead in the purchase, as additional capital investors are now involved. We fully anticipate new ownership to be accomplished in the coming months, with the size of the project continuing to grow.”
News 6 reporter Catherine Silver reported last week the the project was in limbo as the city of Sanford waits for the deal to go through.
Brady Lessard, director of economic development for the city of Sanford, said then that the deal was still moving forward.
“There are a number of folks that have jumped in that are also interested in this,” Lessard said. “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.”
So what could be 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,” Lessard said. “Some of the largest box retailers in the country have already pre-positioned themselves on where they want to be on this site.”
Lessard added that the redevelopment vision also includes retail, residential, recreational and commercial spaces.
“We remain committed to ensuring the overall project is redeveloped globally to guarantee residents and the region get the maximum benefit from this vital amenity,” the city said.
The Seminole Towne Center opened in 1995, but currently the mall mostly sits empty.
“The future remains bright for the largest commercial redevelopment project in recent Seminole County history,” the city of Sanford said. “The vibrancy, jobs and revenue that is scheduled to come online are long overdue.”