Instead, with this plan the mall could bring much needed housing, upwards of 500 jobs and retail and local tax revenue, to a once-bustling property. Without the investment of the developers, the mall, which is mostly vacant, would likely risk facing the same “blighted and abandoned fate,” as other malls across the country, according to FamVest. The potential for needed new housing put together with a new commercial and retail sector could create what Fink called, “a little village,” on the property, adding “it is actually a very interesting project.” “I am anxious to see what they are able to do,” Fink added. It’s a sizable property that was a focal point for decades and has been a commerce center for years, but acknowledged “the mall has been struggling to survive,” said Fink. Jason Fink, president and CEO of the Williamsport/Lycoming Chamber of Commerce, which has been working with the developers, shares the excitement for the revitalization of the Lycoming Mall property. Of that, the Lycoming County has pledged a loan of $5 million, another $5 million comes from a bank loan and the remainder would be an investment from the developers. The total anticipated purchase price for the Lycoming Mall is $15.5 million including closing costs, according to the application. Some of the mall store roofs date back to as early as 1996, which was the last time the Sears store roof was replaced. The overall roof replacement improvement project would add another $3.3 million to the rehabilitation of the mall. Webster LLC, civil engineering consultants, included in the application estimates the cost for site work and construction would be $2 million for each parcel for a total of $6 million for all three. Three of the proposed outparcels include a restaurant and retail pads west of Ollie’s and a hotel on a vacant lot near the former Best Buy. “These outparcels will serve as the catalyst for future tenants and the greater redevelopment plan,” according to the plan. “We anticipate the preparation of each site and construction of a white-box building to cost approximately $2 million per site,” the developers’ plan stated. Potential uses would include full-service and quick-service restaurants, pharmacies, grocery stores or other retail uses. Phase I of the project could include development of three peripheral areas or outparcels for commercial use. The road which circles around the mall property also could be repaved.
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