[ DONATE TO RMN ] [ Return to Main Page ] [ Read Prev Article ] [ Read Next Article ] [ CGI Media News Room ] [ SUBSCRIBE TO RMN ]

RMN is Reader Supported

Our Goal for SEPTEMBER:
$2500

Powered by FundRazr

Click Widget
or Click Here to contribute.

Checks & Money Orders:

Raye Allan Smith
P.O. Box 95
Ashtabula, OH 44004


Users Online:
85

Who Founded RMNews?



Dewitt Jones' Video
"Celebrate What's Right
With The World"


"When the
Starships Fly!"

Listen at YouTube



Join Rayelan's YahooGroup. Get Breaking News, photos that will warm your heart and more!

Click to join Rayelan
Click to join Rayelan

Do you send exciting and timely information to your special emailing group? How about joining the Rumor Mill News Yahoo Group and start sending RMN your emails?

Click to join RUMORMILLNEWS
Click to join RUMORMILLNEWS

RSS feed FOR READING the RMN YahooGroups


The Theme for The Obergon Chronicles

Listen at YouTube


The Obergon Chronicles ebook


RUMOR MILL
NEWS RADIO


RAYELAN.COM

CGI ROOM
Common Ground
Independent Media


RMN 2012
Earthquake Link List!

Compiled by Earthgrid!


THE OBERGON
CHRONICLES


DIANA, QUEEN
OF HEAVEN


THE DIANA FORUM

ACTIVATED CELLULAR MEMORY

TEMPLAR PROSPERITY MEDITATION

WHAT ARE
THE FACTIONS?


THE AMAZING
RAYELAN ALLAN


BIORHYTHMS

LOTTO PICKS

OTHER WAYS TO DONATE

DIANA,
QUEEN OF HEAVEN:
The New World Religion


CURRENT MOON




RUMOR MILL NEWS AGENTS WHO'VE BEEN INTERVIEWED ON RUMOR MILL NEWS RADIO

______________

NOVEMBER 2008

Kevin Courtois - Kcbjedi
______________

Dr Robin Falkov

______________

Melinda Pillsbury Hr1

Melinda Pillsbury Hr2

______________

Daneen Peterson

______________

Daneen Peterson

______________

Disclosure Hr1

Disclosure Hr2
______________

Scribe
______________

in_PHI_nitti
______________

Jasmine Hr1
Jasmine Hr2
______________

Tom Chittum Hr1
Tom Chittum Hr2
______________

Kevin Courtois
______________

Dr Syberlux
______________

Gary Larrabee Hr1
Gary Larrabee Hr2
______________

Kevin Courtois
______________

Pravdaseeker Hr1
Pravdaseeker Hr2
______________

DECEMBER 2008

Tom Chittum
______________

Crystal River
______________

Stewart Swerdlow Hr1
Stewart Swerdlow Hr2
______________

Janet Swerdlow Hr1
Janet Swerdlow Hr2
______________

Dr. Robin Falkov Hr1
Dr. Robin Falkov Hr2
Dr. Robin Falkov Hr3

JANUARY 2009 ______________

Patriotlad
______________

Patriotlad
______________

Crystal River
______________

Patriotlad
______________

Dr. Robin Falcov
______________

Patriotlad

FEBRUARY 2009

Find UFOs, The Apocalypse, New World Order, Political Analysis,
Alternative Health, Armageddon, Conspiracies, Prophecies, Spirituality,
Home Schooling, Home Mortgages and more, in:

The Rumor Mill News Reading Room

Booming Economy? : Why Is The Government Buying Dead And Dying Malls?

Posted By: Swami
Date: Wednesday, 12-Sep-2018 20:29:36

Anyone with eyes to see, has noticed these types of situations have been going on in the USA since the late 1990's to early 2000's. Strip malls, industrial parks, malls, lost tenants due to the local populations not having the jobs or money to buy shit. Many should never have been built in the first place. There were already an over-abundance of housing, malls, plazas, parks. Developers were high on easy credit while wearing dollar-sign colored glasses. Construction companies likewise. Wanna-be rentiers likewise. Everyone loved the stupidity short term, long term, not so much. But stupid is as stupid does...

This is an example of improper application of natural resources. This is an example of the failure of government, the banking industry, and wall street. What a waste.

Of course the typical response by these same jack asses, is to demo the properties, you know, to create new jobs, trash all those resources, plumbing, wiring, and extract more resources from planet retard, I mean Earth. Yeah, that's the smart play. Dumb-asses.

Yeah, letting a private corporation, the Federal Reserve, have control over the countries monetary supply was brilliant. Let a few jack offs make trillions, at the expense of the population, and our natural resources...

The next time you wonder why one household requires more than one full time worker to survive, remember this...

~~~

Why Is The Government Buying Dead And Dying Malls? | Zero Hedge

https://www.zerohedge.com/news/2018-09-11/why-government-buying-dead-and-dying-malls

For the past year, we've covered the epic collapse of shopping malls - the crowning achievement of the 1980's retail model - with mall vacancies hitting a six-year high in July.

Once vacant - or nearly vacant, these once-vibrant malls have become a blight on local communities across the country - driving down nearby property values as we're reminded why Amazon founder Jeff Bezos is the richest man on the planet.

The solution? Local municipalities are using land banks; government-backed or quasi-public entities typically used to buy derelict homes, to snap up the dead malls, reports the Wall Street Journal.

“As we recovered from the recession, the market has reabsorbed some properties but not in the smaller communities that never recovered,” said Frank Alexander, co-founder and senior adviser of the Center for Community Progress, which promotes land banks. “In those places, we’re getting more questions about how to deal with abandoned shopping centers.” -WSJ

In May, the Springfield, Ohio Clark County Land Reutilization Corp bought the Upper Valley Mall for $3 million, after J.C. Penny and Macy's closed their stores in 2015, while other stores such as Sears and Foot Locker have continued to operate.

“Nothing was being done in our opinion,” said Thomas Hale, Clark County land bank executive director. “This is just one project we felt we had to protect.”

Hale says he's in talks with potential investors to redevelop the mall into a mixed-use site which would include housing, a soccer field and a smaller retail presence.

In other instances, governments opt to get rid of retail entirely. The City of Memphis purchased Raleigh Springs Mall and demolished it last year to build a new community center. The $28 million Raleigh Town Center, which will have a library, police and traffic precinct, an 11-acre lake and a skate park, is slated to be completed June 2019. -WSJ

And while malls in rich neighborhoods are doing just fine, growing government involvement with shopping centers in poorer areas is yet another sign that private investors may be losing interest in the vacant properties, even at fire-sale prices.

“It’s a new issue,” said Thomas Dobrowski, executive managing director of capital markets at Newmark Knight Frank - a real-estate services firm. “When a mall gets to a point of no return and when no private buyer is willing to reinvest in it, it comes down to the value of the dirt.”

That said, it's not always easy for governments to snap up the dead and dying properties - as malls have giant footprints which make it tough to propose alternate uses.

“For big boxes in particular, there are limited uses of that space,” said Michele Wildman, executive director at Genesee County Land Bank, which is currently listing 58 commercial properties for sale - including a 101,900 sqft former Kmart store. The lack of windows and giant footprint have made it difficult to do much with it.

Redevelopment plans can also lose traction if city council members and residents can't agree on proposed new uses, while multiple owners and multiple buyers can hinder deals as well.

That said, many municipalities have forged ahead with their plans;

The petition sped up negotiations for a deal between the remaining owner and the St. Louis Economic Development Partnership, which had been acquiring pieces of the mall since 2015. The development board bought the final piece eventually. It is now in talks with a developer who has plans to demolish the current building and develop a logistics center there. -WSJ

“I’m hoping we can move it along for the community,” said Sheila Sweeney, chief executive officer at St. Louis Economic Development Partnership. “People really want something to happen, but right now it’s sitting there decaying.”

https://youtu.be/Qp3p7ZWNRcg





If you enjoyed this article,
Please consider a monthly subscription to Rumor Mill News!!


RMN is an RA production.

The only pay your RMN moderators receive
comes from ads.
Please consider putting RMN in
your ad blocker's whitelist.

Serving Truth and Freedom
Worldwide since 1996
 
Politically Incorrect News
Stranger than Fiction
Usually True!


Powered
by FundRazr
Click Widget
or Click Here to contribute.


Aquasana Home Water Filters

^

Organic Sulfur 4 Health

Aquasana Home Water Filters

TEMPLAR PROSPERITY MEDITATION

^


AGENTS WEBPAGES

Provided free to RMN Agents



Aquasana Home Water Filters




Organic Sulfur 4 Health

TEMPLAR PROSPERITY MEDITATION

^


AGENTS WEBPAGES

Provided free to RMN Agents



[ DONATE TO RMN ] [ Return to Main Page ] [ Read Prev Article ] [ Read Next Article ] [ CGI Media News Room ] [ SUBSCRIBE TO RMN ]

The Rumor Mill News Reading Room is maintained by Forum Admin with WebBBS 5.12.