The owners of Gwinnett Place Mall in Duluth have given up.
The AJC reports, Simon Property Group in February "disposed of [its] interest in" in the mall. Late last year, a $115 million loan that matures this summer was transferred to a special servicer, a company that oversees troubled loans.
Gwinnett Place was once the gem of the county. Since the Mall of Georgia opened in Buford things have gone downhill. Gwinnett Place has struggled to compete.
The mall is not expected to close. But some are excited about the change in ownership. Local property owners have visions of condos and apartments on the mall site, combined with offices and a hotel, a park and stores in a setting without a roof.
“I would definitely go there if there was something like that,” Lilburn resident Janet Tobin, who estimates she visits Gwinnett Place a couple times a month, told the AJC. “I think it could be redeveloped.”
The mall property has recently been included in a study by the Gwinnett Place Community Improvement District that envisions potential uses for that property.
Just who would enact the plan is not known.
For more coverage on this story go to AJC.com