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New Playground, Redevelopment Planned for Mall

WATERFORD TOWNSHIP, MI-Summit Place has a 40% vacancy rate, but the Los Angeles-based owners believe they'll have a $50-million redevelopment plan in place by Thanksgiving that will turn its fortunes around.

By Robert Carr | Updated on September 28, 2002

WATERFORD TOWNSHIP, MI-The 1.3-million-sf Summit Place Mall has lost a few more tenants since it was bought earlier this year, but the new owners believe a few adjustments will bring back shoppers. The mall now has a 40% vacancy rate, including missing anchors Service Merchandise and Montgomery Ward, and other tenant vacations such as the Gap and Gap Kids, according to Rich Marr of Los Angeles-based Namco.

Marr has said it will cost $50 million and a new direction to bring completely bring back the 42-year-old mall at Elizabeth Lake and Telegraph roads.

“We’re in the process of a redevelopment program,” Marr says. “It’s just a matter of when we’ll be able to grow up.”

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