By Abbey Niezgoda
The store fronts have sat empty for over a year, but now there is new hope for an old Warwick landmark.
The Rhode Island mall has been sold, and the new owners have a plan to transform the mall, bring in new business and new jobs.
Winstanley Enterprises of Concord, Massachusetts and Surrey Equities of New York purchased the 450,000 square feet of property for $38 million.
"Our strategy is to gut the entire mall, the entire interior" Adam Winstanley said. "That will make it more attractive to larger anchor tenants."
Beyond the shopping, the project will bring 250 construction jobs and 150 permanent jobs after that. Warwick Mayor Scott Avedisian says the news could not have come at a better time.
"Someone is spending 38 million dollars knowing that the return is going to be there," Mayor Scott Avedisian said. "That's a nice shot in the arm especially during the holiday season."
For the next 6 months, the owners will deal with permitting and design planning. They hope to complete the project in two years.