Posted: Mon 4:44 PM, May 28, 2012
Reporter: AP Email
Updated: Mon 4:53 PM, May 28, 2012
Group Seeks To Buy Troubled Mall
A group of investors is attempting to purchase and redevelop a half-empty mall in Cedar Rapids, Iowa.
John Frew, a venue developer that the city picked to manage its high-profile, $125-million Convention Complex and hotel projects, is heading the group trying to buy the 32-year-old Westdale Mall.
Frew says his firm has signed a purchase contract with the mall's two owners.
Frew says his group first made a bid to buy the mall eight months ago but backed out because it was unable to get both pieces
of the mall.
Frew says his investors are looking at a couple of dozen possible plans for the property, adding that they'll likely change things significantly.
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