Shopping Center News
There has bee A LOT of buzz lately concerning our shopping center. As most of you know from reading www.lakehighlandstoday.com the owner of our shopping center has defaulted on his loans and skipped the country. Nice. So the center is set for foreclosure later this month. In some ways, that is the good news. Our shopping center is a GREAT deal. Expected to sell in the $2.5 - $3.0 million range the land could easily be split up and sold to recapture over half of the investment leaving very affordable land for redevelopment. Even better news is that there appear to be a number of interested buyers. We have enjoyed many conversations in the past week or so with potential buyers most of whom seem to have the intention of redeveloping the center into a neighborhood shopping center - just what we have all been begging for. However one nevere knows how it will play until the last card is laid. Remember the Timber Creek development meetings? Remember how the leadership (civic and development) SWORE a Wal Mart would not be built on that parcel? Yep - now it’s a double decker Sam’s/WalMart catastrophe. Lake Highlands, we have a GREAT opportunity at our door step with our shopping plaza. It is imperative that we ALL stay vigilant and vocal in our support for positive redevelopment.











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