Pomona : Update on Mall Projects
Developers are making progress in lining up tenants for a regional mall at Phillips Ranch and a shopping center downtown, but both projects are being slowed by the recession, city officials reported this week.
The council approved a recommendation from Douglas Dunlap, deputy executive director of the city Redevelopment Agency, to extend for an additional four months the agency’s exclusive agreements with Hopkins Development Co. for the downtown project and Forest City Development for the Phillips Ranch mall.
Dunlap said Hopkins has lined up a supermarket and drugstore as major tenants but needs more time to obtain financing and to refine the project, which would include homes as well as a retail center. Dunlap said Forest City has lined up two major department stores but needs a third to obtain $100 million in loans to build the mall.
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