Simon Gives Up on Summit Mall Idea

by Arkansas Business staff  on Tuesday, Feb. 17, 2004 12:00 am  

The Summit Mall project has been taken off the drawing board after more than 15 years, negating the need for a public vote on the issue.

Simon Property Group Inc. of Indianapolis, which assembled what it hoped would be the site of a 1.1 million-SF mall at the southwest corner of Shackleford Road and Interstate 430 in 1988, announced Tuesday that it "will not proceed with the development plan which has been subject to litigation and an impending referendum."

Instead, it will "continue to explore all possible options for the sale or development" of the 95 acres.

"We are uncertain at this time about the best use for this site," Tom Schneider, an executive vice president of development for Simon, said in the news release. "We are certain, however, that we want to save the City the time and expense of conducting a referendum on a design which will not be built under any circumstances."

In December, the an Arkansas Supreme Court ruling opened the door to a special election by Little Rock voters on whether to allow the mall development to proceed. But no referendum had been scheduled.

For a recent Arkansas Business article on the Summit Mall and competing retail developments, click here.

 

 

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