Hankook Property Management, a partial owner of The Vista, a struggling mall in Lewisville, is working on a redevelopment plan. The company acquired the interior portion, including the theater and former JCPenney, in 2022. The City of Lewisville has been actively facilitating discussions between current property owners and potential developers interested in redeveloping the Vista Mall property. Lewisville officials would have to approve a rezoning once the developers complete their plans.
Estimates put the vacancy rate at the mall between 30% and 50%. The plan aims to transform the property into a modern mixed-use destination. The concept calls for more than 1,000 apartments, 34,000 square feet of office, more than 600,000 square feet of retail, a 120-key hotel, 120 townhomes, and open space.
In a 2024 Bond Election, voters approved $32 million for the Vista Mall public street infrastructure project.
The post Lewisville Working with Developers on Town Mall Revamp appeared first on Connect CRE.
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