Simon Plans Hockey-Related Mall Redevelopment in Seattle
SEATTLE - A group driving Seattle's bid for the 32nd National Hockey League franchise and Indianapolis-based Simon Property Group Inc. (NYSE: SPG) have announced an innovative redevelopment plan for a mall in the Pacific Northwest city. The proposed transformation of Northgate includes the organization's headquarters and a training center with three ice rinks. Simon Malls Chief Operating Officer Michael McCarthy says the project will turn the regional shopping mall into a "a world class transit-oriented mixed-use center."
As more traditional bricks-and-mortar retail locations continue to lose customers to online businesses, Simon is looking toward broader uses for some of its facilities. Early this year, Simon and the ownership group of the Circle Centre Mall in downtown Indianapolis detailed a multi-million dollar facelift for the high-profile location designed to prepare for the property's "next phases."
The hockey piece of the redevelopment is part of a larger-scale, multi-year plan that includes commercial and office space, a light rail presence and residential and hospitality space. The NHL is expected to decide whether it will award Seattle a franchise in December.