Kamenetz, Olszewski Laud New Redevelopment Partnership for Owings Mills Mall

In announcements issued yesterday by the Baltimore County Executive Office and two real estate development firms, County Executive Kevin Kamenetz and County Council Chair John Olszewski Jr. lauded a new partnership for the redevelopment of Owings Mills Mall.

General Growth Properties (GGP), Inc., and Kimco Realty are the partners in the venture to redevelop the 25-year-old, 1 million square foot property, which has been beset by store closures and shrinking customer traffic in recent years, in concert with a national trend of decline among traditional enclosed malls.

"General Growth Properties and Kimco are national leaders in shopping center development and management," Kamenetz said. "Together, these powerhouse developers will bring fresh ideas, new stores, and an exciting vision for retail shopping in Owings Mills. They've got the track record, the relationships with national retailers, and the expertise to once again make Owings Mills a dynamic regional shopping destination."

"When I heard that the Owings Mills Mall was going to be redeveloped the first thing I thought about was jobs," Olszewski said. "The second thing I thought about was jobs. The third thing I thought about was jobs.There will be hundreds of good construction jobs associated with this project, and then there will be hundreds more created by the retailers at the finished project. This is great news for Baltimore County, and very good news for the middle class."

Although the specific details of the redevelopment plan are not yet final, preliminary plans call for a new format and tenant mix, which could include exterior facing retail, junior boxes, big boxes and department stores, according to GGP and Kimco.

Based on a review of reports about the project, including an article published today by the Carroll County Times, a "town-center" approach similar to commercial developments in Hunt Valley, Bowie, and Largo, appears to be the most likely model.