A virtual walk-through video of renovation plans at Golden Triangle Mall offers a first glimpse of what it could look like by early next year.
From large glass-paneled entrances to an open food court, the mall is now undergoing a multi-million dollar renovation scheduled for completion by March, according to Gar Herring, president for The MGHerring Group, a co-owner of the mall with Cencor Realty Services.
The video was recently unveiled during an economic development partnership meeting with local business leaders. The partnership is an organization co-sponsored by the city of Denton and the Denton Chamber of Commerce.
“It [the mall] is still the best real estate in Denton,” Herring said, referring to its location at Interstate 35E and Loop 288 as well as its major anchors, extensive parking and basic bone structure of the building. “Frankly, it’s gotten old, tired and needed a bit of upgrading,” he said.
The idea is to simplify the mall’s interior with white-tiled flooring and walls to allow the storefronts to be the main attraction for shoppers.
When the 765,000-square-foot mall was first purchased in November 2011 from Arizona-based En Pertignus Holding Corp., a wholly-owned subsidiary of JP Morgan Chase & Co., several mall tenants were on temporary leases.
“It was occupied with underperforming tenants,” Herring said, adding that it took them time to reorganize and ask major chain tenants to be patient for the renovations. “We’re trying to get better tenants into the Denton market.”
Citing Victoria Secrets as an example, Herring said the store’s renovation has proven successful as it is now ranked eighth in top sales for the national chain. JC Penney is also planning renovations, he said, and likely other chain stores as well.
The individual store renovations coupled with the mall renovation and the addition of more restaurants and entertainment-based options are expected to enliven the mall’s attraction.
“Right now, your people are putting their retail dollars into other cities’ pockets,” Herring said. “You need to go from need-based shopping to want-based shopping.”
Denton’s shopping demographic continues to be attractive for major chains as the city grows, he said, adding that the challenge is to create a destination place for shoppers and their families. “Malls have to be more than places to shop,” he said.
Along with the other changes, residents will see outdoor dining options, a water feature, more natural light throughout the mall, redo and simplify the parking and even add WiFi options for those who want to sit, eat or simply hangout.
Officials also plan to start on the new entrances soon, with the hope to finish them well before the holiday shopping season begins.
DAWN COBB can be reached at 940-566-6879. Her e-mail address is email@example.com .