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Rouse Properties to renovate Mall St. Vincent in Louisiana
Published: 15-Mar-2013
US-based Rouse Properties is planning to renovate Mall St. Vincent in Louisiana with an investment of $16.5 million in an effort to establish it as a regional shopping destination.
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The renovation project is aimed at attracting high-quality retail tenants, as well as new casual and full service dining restaurants.
As part of the renovation, Rouse is considering a new streetscape on the mall’s west side to showcase new store fronts, street improvements and landscaping, as well as interior improvements aimed at modernising the structure.
Mall St. Vincent is home to Hollister, Banana Republic, Coach, Cache, New York & Company and Gap. The centre also includes Dillard’s and Sears. It is located on I-49, Louisiana’s only north-south interstate highway and just two miles south of the eastwest interstate corridor, I-20.
The council is considering allowing the company to recoup some of its investment through an additional 1% sale tax that would be applied to purchases at mall retailers, excluding anchor tenants Dillard’s and Sears. Rouse would retain 80% of the annual proceeds, while the remaining 20% is retained by the city council for other projects.
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