Towne Mall

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   Today's Journal..

Work time’ begins for new Towne Mall owners

35-year-old property purchased for $850,00 in cash

MIDDLETOWN — 

The new owners of Towne Mall officially took ownership of the property Friday and have shared more details about the upcoming project with The Middletown Journal.

SA Mary LLC and Bless Properties LLC purchased the property for $850,000 in cash, according to George Ragheb, one of four partners with the company.

The mall, which opened in 1977 and sits on 13 acres, has an appraised value of $3.7 million, $2.4 million for the land, $1.3 million for the structure, according to the Warren County Auditor’s Office.

WORTH 3.7 MIL AND PURCHASED FOR $850 THOU??? 

NOW I GET A KICK OUT OF GILLELAND SOMETIMES.....

Middletown City Manager Judy Gilleland said she’s planning to meet with staff regularly to assure the mall property is “a top priority,” but there have been no further discussions with the new owners.

She said the mall, because of its location off Interstate 75, is in the “main gateway corridor into the city” and it’s pivotal in terms on the “revitalization of the entire city.”

NOW, IF THE TOWNE MALL AREA IS THE "MAIN GATEWAY CORRIDOR INTO THE CITY" AND IS PIVOTAL IN TERMS ON THE "REVITALIZING OF THE ENTIRE CITY", WHY HAS ALL THE FOCUS ON AND MONEY SPENT BEEN DOWNTOWN? WOULDN'T LOGIC PLACE THE CONCENTRATION AND MONEY SPENT ON THE MOST "PIVOTAL" AREA, JUDITH? 

I HOPE THIS PRIVATE INVESTMENT IS HIGHLY SUCCESSFUL AND OVERSHADOWS THE DOWNTOWN EFFORT, JUST TO SHOW THE NIMRODS DOWN AT CITY HALL HOW TO DO THINGS. BETTER HOPE THE CITY KEEPS THEIR NOSES OUT OF THIS PROJECT. IF THEY GET INVOLVED, SOME HOW, SOME WAY, THEY'LL SCREW IT UP LIKE THEY DO EVERYTHING THEY TOUCH.  