Buzz About Sacramento: The Story of Downtown Plaza

As Jess went walked into the mall’s walkway, she found something was different. She observed that each time she walked into the plaza, there was always something missing. She realized that the two storied shopping complex was now under a crisis. Many shop owners shut their shops due to lack of business. Few others made attempts to attract customers by renovating their shops and dotting sales with great offers. Even with all this, there was very little improvement in the mall’s population.

The economic turndown has created a challenge for many mall owners to keep their business steady. Apart from the economic condition, Downtown Plaza has other problems. It is facing huge competition from other retail outlets in the suburban areas such as the Westfield Galleria in Roseville. In view of these challenges, the $120 million turnover for the owner of Downtown Plaza was a far off dream. The Westfield American Trust has taken control over this mall. Sac Town mayor Mr. Kevin Johnson has intervened with the Westfield representatives on the time limit of remodeling the Downtown Plaza, keeping in view the city’s reputation.

However, the new owner does not seem to be finishing the project soon, due to the current economic conditions. This has landed the Downtown Plaza tenants in deeper troubles. Under the pressure from the Mayor, the Westfield representative has now agreed to step out of the project. After four months of negotiations and court proceedings, the owner has now agreed to sell Downtown Plaza to its new bidders under various conditions. That being, Westfield will be in possession of the Downtown Plaza until the state finalizes the price and selling strategies of the mall.

In this regard, the Mayor has issued an invite for various developers to come up with suitable quotations for a new building called the Cal Expo in place of the Plaza. In this Mayor and owner duel, the residents are infuriated over the mall’s deteriorated state. Though Westfield had a plan ready for Downtown Plaza in August, it was not implemented because of the Mayor’s plan for Cal Expo.

The Downtown Plaza that was once the most bustling shopping area in the city is now scant with activity. The mall has seen no tenants off late. All shop owners are making wise decisions to move out of the plaza into other areas to keep their business active during the Christmas – New Year season.

For additional resources and information please visit the following sites.

Resource Links:

http://www.gmacrealestate.com

Bill Fields All Star Coaching Program: http://www.AllStarCoaching.net
GreatWest GMAC Search all MLS Listings: http://www.LocalHomeLink.com
GreatWest GMAC Consumer Buyer/Seller Blog: http://www.GreatWestBlog.com

T. Sami Siddiqui (Broker/ Owner) Buzz About Sacramento Blog: http://www.samisiddiquiblog.com
Brodie Stephens (Executive Vice President) One Stop Blog: http://www.brodiestephensblog.com
GreatWest Podcasts- Weekly Updates on new REO, Short Sale, Bank Owned Foreclosure Listings: http://www.HouseTalkOnline.com
GreatWest Videos: http://www.youtube.com/brodiestephens
Facebook Brodie Stephens Profile Page: http://www.facebook.com/brodiestephens
Facebook GreatWest Profile Page: http://www.facebook.com/searchmlshomesforsale
MySpace Brodie Stephens Blog: http://www.myspace.com/brodiestephens
MySpace GreatWest Blog: http://www.myspace.com/greatwest
Picasa Web Album: http://picasaweb.google.com/brodiestephens