Bankruptcy looms, but Southern Park Mall owner expects ‘business as usual’

BOARDMAN — Southern Park Mall owner Washington Prime Group said in a statement today that it still plans to follow through with its $30 million redevelopment of the Boardman mall, despite news of the company's potential bankruptcy.

Washington Prime Group told investors Tuesday its management has "substantial doubt" over whether the company can continue.

The company has engaged advisors to help negotiate with some of its corporate debt holders. During that process, "the company expects business as usual at Southern Park Mall.

"The company remains committed to executing a first-class redevelopment project, which will feature the DeBartolo Commons athletic and entertainment green space and event venue for the benefit of Southern Park Mall's guests, tenants, and community neighbors and partners," according to the statement.

Programming details will be announced "closer to October."

A Planet Fitness location will open this spring, and a full interior mall "refresh" is expected to start January 2022.

The company has previously announced new upcoming local tenants: Bogey's and Steel Valley Brew Works. It's also working to secure another local tenant for the final space adjacent to the redevelopment.

According to the company, it still plans to invest $30 million into the site; $9 million has already been invested.

This story was originally published March 19, 2021 at 9:25 AM with the headline "Bankruptcy looms, but Southern Park Mall owner expects ‘business as usual’."