Talks are underway to sell the Esplanade Mall in Kenner to an Illinois-based development firm, Windfall Properties, but it comes with a caveat.
As The Times-Picayune reports, the sale hinges on keeping the City of Kenner’s City Hall in the mall as a tenant.
The City of Kenner moved into the abandoned Macy’s building after Hurricane Ida severely damaged the current city hall on Williams Boulevard back in August.
That idea does not sit well with some city leaders who want to get out of the vacated shopping center when the new Kenner mayor takes office in July.
The mall was once a major retail magnet and property tax generator for Kenner for decades until it closed down officially after Hurricane Ida hit the area.
The mall once was a haven for shoppers with its two floors of retail shopping including a Macy’s, Dillard’s, a Mervyn’s, and a food court. Today only Target and Dillard’s remain open in the mall.
Negotiations between the mall owners, Felix Reznick of 4th Dimension Properties, New York-based Kohan Retail Investment Group, and the potential new owner, Windfall Properties could conclude sometime this summer.
Reznick tells the news outlet that the new owner had hoped to retain the City of Kenner as a tenant as part of the deal.
"Hopefully we can get a lease in place for at least 16-18 months so the buyer can get proper financing to build this project," said Reznick.
