Tuesday, March 10, 2009

Recession Stalls Bay Center Development

Everyone is going to have to wait another year for any further progress to be made to the Bay Center right in downtown Wayzata. Due to the (horrible) recession, any construction for the Bay Center is put off for next year - meaning the current tenants in the mall will be able to stay longer. Though everyone in the mall was in the process of moving out - just really uncertain grounds. "We were expecting the recovery to show up in the mid part of this year but that doesn't look realistic anymore," according to Ed Briesemeister - spokesperson for the developer. Though the developer's redevelopment plan was approved in June of 2008, there's nothing anyone can do for a while now.

Waiting for the new Bay Center, which is valued at $225 million, is going to be difficult for many of Wayzata's residents - not to mention the local businesses. "I think one of the other downsides is that it continues to leave our retail presentation, for lack of better words, in limbo," stated Mayor Ken Willcox. One of the main problems now for the Bay Center is trying to keep the mall from being completely vacant. But for some, this is a great relief, meaning more time to find a new location for their store; the other half is greatly disappointed.

(Photo courtesy of www.wayzatabaycenter.com)

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