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Redevelopment commission approves pay-as-you-go plan to demolish part of Muncie Mall and create outward-facing retail
Summary
Whole Property Group will proceed with a phased plan to tear down roughly 250,000 square feet at Muncie Mall and build outward-facing outparcels; the commission approved a pay-as-you-go tax-increment reimbursement agreement capped at about $2.52 million.
The Muncie Redevelopment Commission unanimously approved a resolution authorizing a pay-as-you-go tax increment reimbursement agreement to support Whole Property Group’s multiyear redevelopment of Muncie Mall.
Whole Property Group representative John Mulherin told the commission the company plans to demolish roughly 250,000 square feet (including the former JCPenney and Sears footprints and an obsolete theater) to create outward-facing outparcels on McGalliard Avenue and new development pads. Mulherin said the company purchased the mall earlier in 2024 and believes demolition and reconfiguration are necessary to stabilize operations and attract new tenants.
"At 68% vacancy the mall in its current configuration does not have a viable future," Mulherin said, arguing that…
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