Page 7 - BusinessWest April 14, 2021

waiting list for in-line tenant spaces — we’re 100% full.”
Overall, the mall is in the midst of a massive, 10-year (at least) redevelopment plan that will dramatically alter the look and feel
of the landmark — yes, it can be called that — that opened in the mid-’60s to considerable fanfare. The rebranded property, to be called Eastfield Commons, will include a mix of commercial and residential spaces — roughly 450,000 to 500,000 square feet of the former, and 276 units of the latter.
The pace of progress on this redevelopment has definitely been slowed by COVID, said Chuck Breidenbach, managing director of the Retail Properties Group for Mountain Develop- ment, which owns most of the Eastfield Mall site, noting that many in the development community have taken a breather of sorts during the pandemic, especially those involved with retail.
“Everyone just dug in their heels when it came to thinking about the future,” he explained. “It’s been a tough development climate, especially with retail because so many retailers were closing — for good or with a certain number of stores. Or they were trying to downsize their footprints. A lot of that was going on before COVID hit, but COVID really accelerated that process
The conversion of theaters into courtrooms is one of several positive and unexpected developments at Eastfield Mall.
exponentially.”
The situation has improved slightly, nationally and locally,
but the retail picture remains cloudy in many respects. In the meantime, though, the mall is taking full advantage of the oppor- tunities that have presented themselves. Together, they have pro-
vided foot traffic, some revenue, and also some insight into what’s possible at this site, meaning ... well, just about anything that makes sense, a broad concept, to be sure.
For this issue, BusinessWest takes an in- depth look at what’s happening at the mall — and what could happen in the years to come at a complex with an intriguing past and a future dominated by vast potential — and a large number of question marks.
Space Exploration
Just after the COVID vaccine site opened, Thompson told BusinessWest, he would plant himself in the many common areas
at the mall and pick up on the conversations being had, many of them involving people waiting in line to get a vaccine or wander- ing around the mall after receiving one.
What he heard verified what he already knew — that people who hadn’t been to the mall in years, or decades, had pretty much lost track of what was happening there; they may have taken in some headlines, but they didn’t know the full story.
“We’d hear people say ... ‘I didn’t know there were still stores in the Eastfield Mall,” he said, adding that these comments were
“It’s been extremely challenging
to keeps the lights on, if you will.”
UNDERSTANDING BLOCKCHAIN TECHNOLOGY: CHANGING HOW THE WORLD DOES BUSINESS.
The blockchain is highly flexible and has tremendous untapped potential for consumer transactions, private contracts, corporate structuring, securities and derivatives, and even public administration. If your business is not using the blockchain yet, it’s only a matter of time.
Join Bulkley Richardson’s Blockchain and Cryptocurrency team for a virtual presentation on this rapidly evolving area and what it means for businesses.
Date: Tuesday, April 27 from 12-1pm Register: bulkley.com/blockchain-invitation
ATTORNEYS AT LAW
BETTER REPRESENTATION
Choose a mutual bank with mutual business goals.
We are a mutual bank. That means our focus is on our community, our neighbors and our customers. Because when local businesses do well, all of us do well. That’s why you can rely on us to always be there for you with local knowledge, business expertise, and the products your business needs to grow and prosper. Find out more about our business banking products and services.
FlorenceBank.com/ChooseAlways
Member FDIC / Member DIF
BusinessWest FEATURE APRIL 14, 2021 7