Fort Collins Releasing $23 Million for Foothills Mall Project
Adequate funding for the Foothills Mall renovation in midtown Fort Collins has been a little touch-and-go, but the city has now agreed to release the money needed to keep construction on schedule.
According to the Coloradoan, the city was waiting for the mall developers to lease a minimum of 155,000 square feet of space before releasing $23 million in finds for the project. Now, at 105,548 square feet leased as of Monday, the city says they're close enough to their goal.
Fort Collins City Manager Darin Atteberry said Monday he anticipates the first of three bond offers will go out this week, with bonds closing and delivered to the developer in mid-to-late September. Allowing the bonds to be issued now keeps the $313 million redevelopment project of the struggling Midtown mall on target to open in late 2015.
[via The Coloradoan.]
Are you excited for the new and improved Foothills Mall?