(Michigan City, IN) - A few years from now, the Marquette Mall in Michigan City could have a much different look and potentially become a regional destination again.
The mall and the mostly vacant seven-story office building adjacent to it are positioned for redevelopment after one owner emerged from a buyout of other investors who purchased the property close to 20 years ago.
Moshe Shemian, who’s from the Los Angeles area, is looking to “proceed forward” with a vision to develop the property into what he described as a “town center,” according to a press release.
Economic Development Corporation of Michigan City Executive Director Clarence Hulse said he has discussed possible uses of the property with Shemian over the past six months. He said Shemian is looking at everything from hotel rooms, apartments, and entertainment centers to restaurants and retail stores.
“At this point, we’ve talked about a number of options. He’s going to have to nail it down with some kind of a site plan and market study,” he said.
Hulse said he’s open to the city providing financial incentives to help with the cost of any redevelopment.
Built back in the 1960s, the once-thriving mall and office tower has been in decline since losing anchor stores JC Penney, Carson Pirie Scott, and Sears over the past 10 years or so. The remaining businesses are set up in a strip mall-type setting along the east side of the mall, while the former anchor store space and other parts deeper into the building are empty.
Right now, Hulse said, it appears just water-damaged areas of the mall could be torn down while the remainder of the structure will be renovated for future occupancy.
“We’ll just wait to see what he wants to do. That’s up to him to decide,” he said.
Hulse said only the first two floors of the office tower have tenants.
The announcement comes at a time when construction is beginning on high-rise apartments, hotel rooms, and condominiums at two separate locations on the city’s north end. Those developers are banking their success on more visitors and residents from the Chicago area coming to Michigan City on South Shore Railroad commuter trains after construction of a second line to Gary is completed in the coming weeks.
Adding a second line is projected to reduce travel to and from Chicago by over 30 minutes each way.
Hulse said the buyout happened because of Shemian seeing the potential to profit by investing into the mall property to take advantage of the economic boom predicted for the community from quicker rail travel.
“When he came here, I think he liked what was going on in the city in terms of the new developments and what could happen here,” he said.
Hulse said large projects take time in areas like planning and structural engineering, but he feels the start of renovating the mall and tower could happen sometime next year. He said a finished product is very likely within a five-year period.
“Before you spend any money you got to have a plan,” he said.
