Efforts to secure tax incentives on hold after negotiations with potential tenant fall through
PORTAGE TOWNSHIP -- Moyle Real Estate and Development still plans to purchase the struggling Copper Country Mall even as negotiations with a potential renter--one that would've brought in about 80 new jobs--are put on hold.
The Houghton developer says the sale is progressing on all other fronts and could be finalized this summer. But for some current tenants, that might not be soon enough.
Customer loyalty is the reason Bob Butke says his business has continued to do well even though the number of shoppers and stores at the Copper Country Mall has steadily declined. After 15 years in the same location, Butke says he's unsure whether or not he'll stay when his current lease is up this September. The mall's uncertain future is forcing him to keep his options open.
Right now, there are only 15 businesses occupying the more than 30 available spaces.
"I hope the mall will pick up, but you can't run a business on hope,” said Butke. “We have to be assertive and do what we feel is best to increase business."
Betty Chavis only signed a six month lease when she opened her store last November. Now she thinks she could've done better elsewhere.
"I’m constantly looking at other spaces because it'll take time to revive this place," said Chavis. “You have to get people in here in order to bring in other people to shop."
Moyle first announced it was interested in buying the mall from current owner, Developer's Diversified, last October. Recent efforts by Moyle to secure tax incentives for new tenants have, so far, proven unsuccessful, but the developer isn't discouraged.
"That was the most exciting part of our plan, but it wasn't the lynchpin,” said Andy Moyle, President of Moyle Development. “We're still moving forward. This is where we live and this is where we want to see business thriving. Just that part of it is on hold."
If and when Moyle does purchase the mall, construction would begin immediately. The developer said they already have plans to modernize the architecture and brighten the interior.