Thursday, April 16, 2009

The Mall Is Not Part Of Bankruptcy

According to the Sun, not every General Growth property is part of the bankruptcy filing seeking protection from creditors.

The Mall in Columbia, the master-planned community of Columbia, and the development in Columbia Town Center are not involved in the bankruptcy filings, according to information posted on the company’s Web site.

Other local properties owned or managed by GGP that are not involved in the filings are the American City Building in downtown Columbia, the Columbia Association building, Towson Town Center, Laurel Commons and Mondawmin Mall.

The company is going ahead with its plan to redevelop downtown Columbia, said Gregory Hamm, regional vice president and general manager of Columbia for General Growth.

“As we have said many times, a good general plan and zoning will run with the land,” Hamm said. “Regardless of who owns it or what the circumstances are, a quality plan and all that comes with it survives transfers, survives economic ups and downs.”

Some local General Growth properties are part of the bankruptcy filing, including Gateway Overlook shopping center, on the eastern edge of Columbia, and the Hickory Ridge Village Center, in west Columbia.

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