Several tenants in the struggling FairOaks Mall on Columbus’ north side expressed optimism about plans for a city-led group to buy and redevelop the property.
The city of Columbus, Columbus Regional Health and Heritage Fund — The Community Foundation of Bartholomew County on Friday announced plans to purchase the property at 2380 25th St., which opened in 1990, for $5.9 million and recreate the space for year-round recreation and sports purposes.
All existing tenant leases will be honored. For at least the next three years, businesses in the mall can be part of the transition, the city said.
“It’s a good idea instead of leaving it like this,” said Andrew To Son, owner of Mark Pi’s China Gate restaurant, which has been at the mall since 1991.
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He was referring to two-third of the mall’s roughly 50 store spaces being vacant, resulting in less shopper foot traffic.
Unlike other mall spaces, Mark Pi’s has an exterior entryway, making it not completely reliant on people having to walk into the mall to enter the restaurant.
Son said it’s his desire to keep his restaurant open at the mall, especially if the proposed changes can improve business.
Currently, lunchtime is his busiest period, supported by Cummins Inc. employees whose offices are also in the mall, and other nearby professionals and residents. If the number of customers remains at the current level, the restaurant will be able to stay — but not if it declines, Son said.
Mark Pi’s lease is for another two years. When he has one year left, Son said he will have the option of getting out of the lease. Son said he wants to see what transpires until then before making a decision.
“Hopefully something changes and attracts more customers,” he said.
Having the proposed plans for the mall made public will help curb persistent questions by customers about whether the mall and the restaurant would remain open, Son said. He thinks that should help customer confidence.
Determining a fit
Robert Hay-Smith, owner of Harlequin Theatre, also located in the mall, said new plans for the property appear to be a good fit, particularly with Lincoln Park and its softball complex across the street, and the Columbus Regional Hospital campus eight blocks south of the mall.
“It seems to me a logical thing to do,” he said.
Hay-Smith said he wonders what that means for the future of his 120-seat theater, however. Located in FairOaks Mall since March 2013, Hay-Smith thinks the Harlequin could have a home as a small conference center and theater.
“There are not many small meeting places in Columbus,” he said.
Hay-Smith said he has rented the space to Columbus Regional in the past for conferences, in addition to his regular bookings of live entertainment.
Harlequin Theatre’s leases run on a year-to-year basis, so Hay-Smith said it’s heartening to have some clarity that the theater could remain in the mall for at least a few more years.
“I feel a bit more secure there for a while,” he said.
That’s important, he said, because he has to book performers months in advance. Hay-Smith noted that he’s already booked one for March.
Hay-Smith said the theater’s situation is different from other retailers in the mall, so he’d like to sit down and talk to the city and its partners and learn more about their plans.
That would help him understand what type of long-term future Harlequin Theatre might have in the mall, he said.
Dan Vo, owner and manager of Silky Nails, a tenant in the mall since 1996, said he was pleased with the news that the city-led group wants to buy the mall, calling it a good start.
“Anything can be better than now. At least there’s a plan and a project to do something with the mall,” he said.
Vo said he’d like to stay in the mall. The business is near an entryway, providing easy access for customers. However, the uncertainty of the mall’s future prompted him to renegotiate his lease to a month-to-month term.
The proposed plan for the mall will take time to develop, Vo said, so he’d like to see what progress is made before making further decisions on his business’ future there.
