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Rebounding mall to receive $200K

Federal funds are expected to help pay for some $480,000 in refurbishment costs at Medley Centre, the former Irondequoit Mall.

Rebounding mall to receive $200K

Federal funds are expected to help pay for some $480,000 in refurbishment costs at the former Irondequoit Mall.
Rep. James Walsh, R-Syracuse, today said he has secured $200,000 in federal appropriations legislation to advance Medley Centre’s revitalization.
The 800,000-square-foot mall is owned by the County of Monroe Industrial Development Agency. Last spring, Adam Bersin, president of Bersin Properties LLC, received approval from COMIDA for payment in lieu of taxes for the mall. The arrangement allows Bersin to forgo tax payments as part of the mall’s renovation.
Walsh said the community is lucky to have Bersin to transform the ailing retail hub.
“Revitalization of Medley Centre is expected to result in some 1,500 new jobs at the facility and additional investment in neighboring parcels,” Walsh said in a statement. “That’s good news for Irondequoit.”
The funds that Walsh secured will go to improving the property’s infrastructure, including expansion and improvements to the mall’s parking areas, access roads and lighting equipment.
“It’s exciting to see momentum building as we continue to enhance Medley Centre and attract the attention and commitments of significant retailers and restaurants that currently have no presence in Monroe County,” Bersin said.
Among the new tenants at Medley Centre are Steve and Barry’s University Sportswear and beauty retailer Brazil-based O Boticario.
In addition, Target Brands Inc. recently announced the construction of a stand-alone Target store adjacent to the mall, which is expected to increase the property’s size to more that 900,000 square feet.

(c) 2006 Rochester Business Journal. Obtain permission to reprint this article.


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