North Texas Daily

Mall renovations cause roadblocks

Mall renovations cause roadblocks

April 04
20:58 2013

Melissa Wylie / Senior Staff Writer

Renovations to the Golden Triangle Mall are expected to end this summer as scheduled, with construction interrupting traffic patterns one final time.

The mall entrance from the service road of I-35 behind Wendy’s will be closed for two to three days this month in order to repave the roadway, mall manager Matt Ludemann said.

The remodel investment is expected to total $9.5 million by the end of summer, said Aimee Bissett, director of economic development for the city of Denton.

He said the weather will determine when construction on the entryway will begin, as the rain did not allow for it to be finished this week as anticipated, but that it will be completed thsi month.

“We’re moving along as fast as we can, which I think is a pretty reasonable pace,” Ludemann said. “We’re on track for where we want to be at this point.”

Phase one of the renovation process began last April, and brought new restrooms, interior lighting and a layout of the center court area. Phases two and three of the renovation process are currently underway and include changes to entryways, parking lots, retail spaces and the food court.

“The property is being rebranded,” Ludemann said.

New retail spaces and food court eateries are scheduled to open in September, and the undetermined businesses will most likely begin hiring a month prior to opening.

A number of financial partners are working with Chase Bank to fund the renovation, Ludemann said.

Ludemann declined to specify the partners involved.

The renovation is part of an incentive agreement with the city, referred to as a Chapter 380 agreement, Bissett said.

“The city of Denton offers incentives to promote economic development,” she said. “Any time you pay sales tax, a percentage of that goes to the city of Denton.”

The percentage of revenue returned to businesses aims to stimulate growth of the retailers and the local economy as a whole, she said.  The incentive plans return a portion of the city’s percentage of sales tax to the retailer.

So far, the project has remained close to budget, Bissett said.

“They’re right on target with what they are planning to spend,” she said.

The number of shoppers is expected to increase when construction is complete and Denton residents will no longer need to travel out of town to find their desired retail locations, Bissett said.

“I think the mall really needed to be updated,” Bissett said. “By putting in the renovations, they will attract more retail vendors.”

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