belk @ eastlnad mall | is it closing?

Belk, Eastland Mall, Charlotte, North Carolina (outisthorough)

The news couldn't be worse for Eastland Mall in Charlotte.

The Charlotte Observer reports today that developers General Growth Properties Inc. of Chicago and Charlotte's Childress Klein Properties are teaming on The Bridges at Mint Hill at Interstate 485 and Lawyers Road. This new development is currently planned as a 1.3 million square foot upscale open-air retail and entertainment center anchored by a 180,000 square foot Belk store. The new shopping center plans to open in 2007. The developers also plan to include two other large anchor stores, though the names of those retailers were not announced.

This developemnt is within eight miles of 30-year-old Eastland Mall and would serve a substantially more upscale clientele than the east Charlotte mall, siphoning off what remains of those customers at Eastland. Though Belk is denying rumors that they plan to close their Eastland store when the new center opens, they have made no secret of their displeasure with the demographic changes at the struggling mall and have slowly reduced the breadth and quality of the merchandise lines at the store over the past several years.

Eastland is on the verge of a major revival, with community leaders and developers Glimcher Corporation attempting to evolve the mall into a safer, more innovative community destination. It has never been clear if Belk was interested in being a part of the future of the mall, and company officials are taking the public stance of 'wait-and-see' in regards to the 160,000 square foot store.

My take on the issue: it's a goner. I've seen this happen so many times before with other Belk stores in minority neighborhoods that if they do save the place, it will be a miracle and a remote one at that. They certainly haven't spent any money on the building itself in years, and the neighborhood isn't getting richer or whiter.

Goodbye, Belk Eastland. It's been a good run.