Mall owner Forest City Enterprises is “close to finalizing a deal with Macy’s” to allow the process to move forward and the company to begin applying for permits from the county, according to Forest City spokesman Gary McManus. Securing a deal with Macy’s, one of the mall’s “anchor tenants,” was one of the last impediments to the long-awaited redevelopment.
Forest City is planning to recast the mall as Ballston Center, building more than 300 apartments on top of a renovated shopping center and adding office space. As part of the redevelopment, Forest City is negotiating with Macy’s to take over some of the department store’s space. The negotiations were initially expected to take a few weeks after the announcement of the proposed renovations, in February.
“The deal with Macy’s has taken longer than anticipated,” McManus said in an email.
He said the negotiations are close to being finalized and should be done “within the next few weeks.” Inside the mall, the changes could include a new mix of stores and restaurants.
“The tenant mix of not only the food court but the rest of the mall will be open to revision, expansion and enhancement,” said McManus.