This is very disappointing news and they will be missed. Its a tough businesses environment, even worse for areas of our city that are under challenges like Town Square. City Leaders have used many tools available to them to help. The City does not own Towne Square, nor do we have any control over rent in that area. The land is leased at little to no cost to the developer, they also had many tax incentives for years. Even this last year the city has invested tens of thousands into developing plans with the owners and other developers for the former KMart and Fulmers Buildings... There is only so much that can be done when the markets lead business and landlords to make business decisions. It is unfortunate that our Towne Square has had to face many consequences because of these tough decisions and market conditions.
Posted on: Wed, 21 Jan 2015 20:58:39 +0000