A public hearing tonight in Henrico on the latest and some say most promising plan to revive and renew the 44-year old Regency Mall.
Malls across the country are failing as retail falls to online shopping and Regency has been no exception. Bought four years ago at ten cents on the dollar by local developers they have searched for ways to bring it back.
“We are more excited about Regency’s future than we were when we bought it four years ago.”
Mark Slusher, Vice President of Thalhimer Realty says the key is residential and there is a public hearing tonight on a rezoning proposal to allow up to 1250 residential units, over time.
“And with this proposed rezoning, that will allow us to create a critical mass of residents on the property, its prospects are very bright.”
And, Slusher says there is community support.
“Our biggest complaint about Regency Mall, is we’re not going fast enough."
The Planning Commission will hear public comments tonight and the board could vote on it as early as August.