Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ALTON, IL-The city has approved a business plan and the creation of a “Special Business District” to help Coyote Management LP in its more than $15 million renovation of the 635,000-sf Alton Square Mall. The company purchased the mall last year for more than $15 million, and promised to engage in large overhaul of the 75%-occupied property.

The district will allow Coyote to expand the scope of its original renovation plans, and also to begin work on the property immediately, says a company spokeswoman. “Now we have the funding to do it,” she tells GlobeSt.com. “We’re hoping to have the renovation completed by year-end.”

The mall has 56 stores open, and these include anchors Macy’s, JC Penney and Sears, as well as a branch of the Hayner Public Library, which is being expanded to 25,000 sf. The firm plans to massively market the mall at the upcoming ICSC convention in Las Vegas to gain more tenants. “We have two leasing people who have full schedules in Vegas, we hope to do a lot of deal-making there,” the spokeswoman says.

The renovation plans for the 30-year-old property include redesigned mall entrances, the removal of structural barriers in the common area between the main and second floors, new flooring on the first and second floor, enhanced court areas to include soft seating, carpet, new landscaping, updated lighting and acrylic laminate panels, and a large hvac overhaul. “We’ve spent more than $150,000 on the hvac and escalator alone,” the spokeswoman says.

She says the city, a suburb of St. Louis, agreed to the special district because the mall is the largest retail property in the area. “They need a viable regional mall in their market,” she says. The company also owns and manages the 552,163-sf Temple Mall in Temple, TX.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.