The Mall, which sits in Vally Stream, New York on the South Queens, New York City border was brought a few years ago by the California-based Macerich Company...
After getting approvals from Valley Stream and the Town of Hempstead, the mall owners have palns to renovate the existing mall and build an outlet/mall on the recently closed down Sunrise Cineplex property that have acquired….
The aim seems to be to duplicate the successful North Shore Nassau County Woodbury Commons mall….
The existing mall has already seen the addition of new upscale food stores such as Panera’s and the Chipotle Grill along with renovations by Victoria’s Secret and the H & M chain stores…..( Old Navy has just completed a renovation of its store Sept./2015 )
The new Common’s mall will have the owners spending around $90 Million and the renovations to the existing mall are pegged @ close to $80 Million….
The mall pulls most of it’s traffic form close by Queens and out to Brooklyn…..
But Nassau Country shopping numbers should go up with more shopping available in the area…The action will probably affect central Nassau’s Roosevelt field Shopping center which over the last few years had attracted several Manhattan based high end retailers….
One should note that in Newsday comments there has been an undercurrent against the mall attracting customers from the New York City Boro’s even though those shoppers are solid middle class customers….
The owner of Green Acres Mall plans to build an $83.7 million shopping center adjacent to the Valley Stream mall, plus spend an estimated $79 million on improvements to the mall.
The new retail center — Green Acres Commons — will feature big box name brands and will replace the Sunrise Multiplex Cinemas, which showed its last movie Jan. 19…..
More from a paywalled Newsday piece….
The addition’s to the mall could take up to 15 years the developer
Construction crews have begun clearing the site and have turndown the old movie theatre building…
Six stores announced for the new Commons…..
Ashley Furniture HomeStore,…Now Open
BJ’s Restaurants….Now Open 10/1/16
Burlington Stores, Inc…..Now Open
Buffalo Wild Wings,. ..Now Open
Dick’s Sporting Goods Inc….Now Open
Five Below, Inc….Now Open 10/8/16
24 Hour Fitness…Now Open…
Homegoods…Now Open 10/8/16
The Sonic Drive-In is NOW open….March 2017
DXL Mens Clothing….Now Open
Kirklands Home Goods …Now Open
The Toys R Us and Babies are Us on the Mall property are out of business….
Macy’s has opened a Backstage store to the basement of it’s Mall Store…
The Green Acres mall has received a tax break that appears to be costing the residents of the area that the Mall is in a tax increase….
There are howls of protest over a huge tax break given to a mall on Long Island.
The tax money the mall is saving means that property taxes are skyrocketing for everyone else in three towns in Nassau County.
“Very, very, upset,” said Ricky Villanueva, a homeowner.
Villanueva got a letter recently informing him his property taxes would be going way up.
“That’s not fair. My taxes are already way up and now add more,” Villanueva said.
This Valley Stream homeowner is not alone. Two years ago, the Hempstead Town Industrial Development Agency, the IDA, gave a big tax break to the Green Acres Mall. Eyewitness News is told it happened not just by freezing taxes, but reducing the mall’s taxes by $4.5 million a year.
In exchange, the new owners of the mall promised to add security, renovate the complex, and bring in higher-end stores.
It seemed like a win-win situation, until the bills came crashing in and homeowners were stuck making up the multi-million dollar difference….
The Mall has a deal with the Town Government for 10 years and ANOTHER 5…..It will be extremely difficult to legally tear up a deal made and approved by the Town’s politicians….
Judge halts IDA’s plan to revoke Green Acres Mall tax breaks…..