A new plan is in place to eventually revive the dormant ShoppingTown Mall at 3649 Erie Boulevard East in DeWitt.
The Onondaga County Industrial Development Agency (OCIDA) has chosen Continuum Partners as the preferred master developer for the redevelopment of the ShoppingTown Mall property. Continuum -- which is based in Denver, Colorado -- will work in partnership with Syracuse-area firms that include The Sposato Companies, the Hayner Hoyt Corporation, and Dalpos Architects.
The developer is making a $400 million investment in the multi-phase, mult-year project to revive ShoppingTown Mall, a one-time heavily active shopping, dining, and entertainment facility serving the eastern side of the Syracuse area.
"Excited to announce that our partnership will be with Continuum Partners [and] the lead partner, Mark Falcone. His father, his mother are well known figures. His family has been developing in this community for generations," Onondaga County Executive Ryan McMahon said in his remarks.
McMahon announced the updated plan during a late-morning event on the ShoppingTown Mall property, just outside what was previously an entrance to the mall.
The current property is boarded up and still has a JCPenney logo on the building, along with a faded Macy's logo as well. The roads around the ShoppingTown Mall property are filled with potholes, but the familiar beige-colored ShoppingTown sign at the corner of Erie Boulevard East and Kinne Road in the town of DeWitt is still visible.
Thursday morning's announcement followed a competitive national request for proposals process, McMahon's office said in its announcement.
Denver-based Continuum Partners and its Syracuse-based development team were selected to advance “ShoppingTown Reimagined,” an "ambitious" redevelopment vision for the property. The proposal will work to transform the vacant 65-acre mall property into a walkable, mixed-use neighborhood featuring housing, shops, restaurants, public gathering spaces, hospitality offerings and a technology and office campus.
"They've done it before in thriving communities. They've built their team. They're local, and they have a plan and it's a plan that this community is going to love," McMahon said.
Officials anticipate the project will generate more than $400 million in private investment through a phased redevelopment process designed to "align development activity with market demand, financing and agreed-upon milestones while also protecting taxpayers," McMahon's office said.
Under the proposed agreement, OCIDA will retain control of the property until specific financing, development, and construction milestones are achieved, while the developer ultimately completes a phased acquisition totaling $16.1 million, per the Onondaga County announcement.
The announcement represents the culmination of years of work by Onondaga County to gain control of the property, remove long standing legal obstacles, and position the site for redevelopment, McMahon's office said.
Thursday's announcement comes more than six years after the first plan called District East was made public. It was eventually abandoned after the county's years-long struggle to acquire the Sears property, as well as the Macy's property, which was accomplished through an eminent-domain case.
DEVELOPMENT TEAM
County officials said the selected team combines a nationally recognized redevelopment track record with strong Central New York partnerships.
Founded in Denver in 1997, Continuum Partners has completed more than $3 billion in mixed-use development projects across the country. Founder and CEO Mark Falcone grew up in a Syracuse real estate family and is a graduate of Colgate University. Senior principal Peter Fair is a Cornell alumnus and former Pyramid Companies executive.
"This is a real privilege to be able to come back and participate in some that I think really does have the ability to transform. Those are the kinds of projects that we're most excited by," Mark Falcone said in his remarks.
Falcone also noted that he's always had "deep, deep affection for this region."
Among Continuum's signature projects is Belmar in Lakewood, Colorado, where the firm transformed the former Villa Italia Mall into a vibrant, walkable, mixed-use downtown featuring housing, retail, offices and civic spaces, per McMahon's office.
The nationally recognized redevelopment demonstrates Continuum's experience reimagining former shopping centers as "dynamic places that support community life and long-term economic vitality," the office said. Continuum's approach combines long-term master planning with a disciplined, phased development strategy designed to respond to market conditions, attract investment, and "translate a bold vision into tangible progress."
The development team also includes several established Central New York partners. They include The Sposato Companies; the Hayner Hoyt Corporation; Dalpos Architects; and Christopher LaBerge, who will serve as local development director.
