Tuesday, August 26, 2014
Another Simon Mall Faulters
Simon Property Group abandoned Indianapolis' first mall, Eastgate Consumer Mall. Next came Lafayette Square Mall's demise on Northwest side. Now Simon has walked away from its Washington Square Mall on the city's East side, along with more than $27 million in debt owed on it. How much will Indianapolis taxpayers wind up paying in efforts to redevelop the blight left behind by all of these malls abandoned by our good corporate citizens? Taxpayers are paying close to $20 million to prop up the politically-connected owner of Eastgate in a disastrous effort to shoehorn the Regional Operations Center and the East district IMPD headquarters into the ill-suited site. Unsuccessful efforts were made to locate a new criminal justice center at the site of Lafayette Square Mall. What bright ideas will they come up with for Washington Square Mall, which is already about half vacant?