Thesa Chambers, Principal Broker
I was saddend to read today that foreclosure proceedings have been started against SilverStar. The article I read did not mention what any plans were – other than SilverStar is in default. I hope that something can be done to continue a forward movement.
To find more info that is not published by either side of this local heated debate I find that BizJournals gives some pretty straight facts.
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I don’t know why you’re sad. The current developers were somewhat questionable from the start and paid too much for the mall and wanted to change the entire feel of Sunriver. There are further articles available that say Vestin has accepted an intent to purchase the mall for about 13 million to close about Dec. 19th. At that price, someone can be reasonable about redevelopment and make money.
Dave – I was sad for the simple reason that regardless of what you or I would want for the mall – this will most likely be another delay in a much needed major repair to the mall.
Having worked in the buildings of the mall for years now I can tell you what you see in these stores is not what they are dealing with.
Sunriver needs the mall and the mall needs help – regardless of who does it. Change is tough.