If you apply some retail analytics and look at longer-term trends, maybe the Hudson Valley Mall would be better suited as something else.
The Hudson Valley Mall is set to lose another major tenant this summer when Regal Cinemas shuts its doors. But the mall’s owners say they are in talks with another theater operator to take over and upgrade the 12-screen cinema.
Another bleak Hudson Valley January, another iconic brick & mortar store closing.
Renovations, better movie theater seating and medical services would do a lot. But there is one particular tenant that, if secured, could single-handedly save the Hudson Valley Mall. The people will come from miles around— the people will come.
The owners of the Hudson Valley Mall say they’re bucking the trend in a plunging retail sector by making a $1 million-plus “sacrificial investment” in it.
Will drastically reduced assessment enhance the town’s commercial property values?
The town is preparing for a possible decrease in the assessed value of the Hudson Valley Mall, which lost two anchor stores before being sold for a fraction of its former value.
The pending takeover of the bankrupt Hudson Valley Mall is shaping up as another of those good-news-bad-news scenarios. The result could be a leaner, cleaner mall, with perhaps a major food store and expanded theaters. But the town is likely to take a huge hit on property taxes.
‘Why is a property a failed property? It’s because it doesn’t have the income. But there’s no bad property, it’s just lack of investment and bad stewardship. And that’s what’s occurred.’
After losing two anchor stores, a bankruptcy and tax deal that reduced its value by 90 percent, the Hudson Valley Mall need some new ideas to turn things around. Here are a few possibilities.