Towne Square Mall has a new owner - Tri-State News, Weather & Sports

Towne Square Mall has a new owner

(WFIE) (WFIE)
OWENSBORO, KY (WFIE) -

Kohan Retail Investment Group bought Towne Square Mall for $4 million dollars last month.

The company actually specializes in buying old malls to refurbish them for mixed use. 

"It's always an opportunity to see how people take their innovative approach to making things better," Candance Brake the President and CEO of the Owensboro Chamber of Commerce said.

We reached out to Kohan Retail to ask about reports they have a history of lawsuits, unpaid utility bills and property taxes. They own 25 malls across the country, including Washington Square Mall in Indianapolis where Kohan reportedly owed over $600,000 in property taxes last summer.

But Brake is hopeful that won't happen here.

"Retail is such an important part of our economic strategy here and really it's an important part of any booming economy," Brake said. "We're very interested to see what happens and very excited about the possibilities."

Owensboro residents say the mall is in bad shape now and they don't want to see it get worse.

"It could get a little bit worse," Kendal Black a resident said. "If it turns into flea markets and a bunch of crappy stores that want to sell random things, then yeah [it'll get worse]."

Brake says she is hopeful the sale will be positive and will help keep retail on south Frederica successful.

"We don't see one area of town competing against the other," Brake said. "We see all areas of town kind of blend in together to make us a very vibrant community."

And they hope the sale of the mall contributes to retail growth.

Copyright 2018 WFIE. All rights reserved. 

  • LOCALMore>>

  • Dioceses of Owensboro & Evansville release statements in wake of PA abuse allegations

    Dioceses of Owensboro & Evansville release statements in wake of PA abuse allegations

    Friday, August 17 2018 1:09 PM EDT2018-08-17 17:09:22 GMT
    (WFIE)(WFIE)

    The leaders of the Owensboro and Evansville Catholic Dioceses have released statements following the Pennsylvania sex abuse allegations.

    More >>

    The leaders of the Owensboro and Evansville Catholic Dioceses have released statements following the Pennsylvania sex abuse allegations.

    More >>
  • Man charged with attempted murder of a police officer after chase

    Man charged with attempted murder of a police officer after chase

    Friday, August 17 2018 12:54 PM EDT2018-08-17 16:54:38 GMT
    Mark Poenitski, 21. (Source: Hopkins Co. Jail)Mark Poenitski, 21. (Source: Hopkins Co. Jail)
    Mark Poenitski, 21. (Source: Hopkins Co. Jail)Mark Poenitski, 21. (Source: Hopkins Co. Jail)

    The chase started Thursday evening around 6:30 in Evansville, near Hwy 41 and Covert Ave, when an EPD officer tried to pull it over a vehicle for speeding.

    More >>

    The chase started Thursday evening around 6:30 in Evansville, near Hwy 41 and Covert Ave, when an EPD officer tried to pull it over a vehicle for speeding.

    More >>
  • Affidavit: Baby had skull fractures, parents arrested

    Affidavit: Baby had skull fractures, parents arrested

    Friday, August 17 2018 12:11 PM EDT2018-08-17 16:11:31 GMT
    Malon Gott and Sabrina Ragler (Source: Vanderburgh Co. Jail)Malon Gott and Sabrina Ragler (Source: Vanderburgh Co. Jail)
    Malon Gott and Sabrina Ragler (Source: Vanderburgh Co. Jail)Malon Gott and Sabrina Ragler (Source: Vanderburgh Co. Jail)

    Malon Gott, 27, and Sabrina Ragler, 26, were booked into the Vanderburgh County Jail Thursday. 

    More >>

    Malon Gott, 27, and Sabrina Ragler, 26, were booked into the Vanderburgh County Jail Thursday. 

    More >>
Powered by Frankly