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By DAWN COBB / Denton Record-Chronicle
Feldman Mall Properties Inc. proposed up to $50 million worth of renovations to one of its newest acquisitions, Golden Triangle Mall, at a Denton City Council work session Tuesday.
The proposed renovations include adding a multiscreen Imax theater, a food court with up to seven restaurants complete with a live stage for local bands to entertain free of charge, two restaurant spaces near Barnes & Noble Booksellers, and an overhaul of the center court, entrances and seating areas inside the mall. Plans also include extending Dillard's floor space inward from more than 129,000 square feet to 140,000 square feet.
Denton Mayor Perry McNeill called news of the renovations "very positive."
"The first thing is they have a good history of doing this kind of thing and you feel comfortable they will do what they say they will do," Mr. McNeill said. "There are a lot of new concepts there that will add pizzazz to the mall – the Imax theater and the softening of acres of concrete with landscaping, which I think will make it more attractive."
Changes inside and out
Larry Feldman, chairman and chief executive officer of Feldman Mall Properties Inc. told city officials that he planned to add significant landscape changes, with trees and signs for passers-by on Interstate 35E to see. In addition, tall stone entrances with lighted panels would offer more visibility as well as safety for people visiting at night.
The plans include creating at least five living room-style seating areas throughout the mall with sofas, chairs, flat-screen TVs and carpeting.
Mr. Feldman said he wanted to create a "jaw-dropping" experience for Denton shoppers who shopped there five or 10 years ago.
"People who live in Denton drive right by the Denton mall," he told council members, adding that Vista Ridge Mall in Lewisville was a popular attraction along with malls in Frisco and Dallas.
'Get them to come back'
"The experience they get at ... [Vista Ridge] is better than what they get at Denton," Mr. Feldman said. "You need to shock the consumer to get them to come back."
The company's plans to put in an Imax theater complex, additional restaurants and nicer seating are to keep shoppers lingering longer.
After the work session, Mr. Feldman said he planned to seek a public-private partnership with the city for Golden Triangle Mall's renovations.
Linda Ratliff, economic development director for the city of Denton, said the company has not approached the city for any tax incentives.
Renovation of Denton's 880,000-square-foot mall is expected to cost between $40 million and $50 million, Mr. Feldman estimated.
"It could even be more," he said.
An estimated 1,200 to 1,400 people are employed at Golden Triangle Mall, he said. The mall now has 66 percent permanent leases, with 95 percent occupancy including temporary tenants.
One other shopping area is in the planning stages – Rayzor Ranch, which is proposed just north of the mall at I-35E and U.S. Highway 380.
As the largest retail development proposed for Denton, Rayzor Ranch is looking to add several major retailers to an estimated 2 million square feet of retail. Already announced are a Wal-Mart and a new Sam's Club in the Rayzor Ranch Market Place on the north side of U.S. 380. A third anchor store will be a home-improvement center.
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