FRACKVILLE - The Schuylkill Mall is set to be demolished by the end of 2017, according to Schuylkill Economic Development Corp. (SEDCO) Vice President Brian Hansbury.
The plan was presented by Hansbury, behalf of mall owners Northpoint Development to the Schuylkill County Commissioners during their August 16 workshop.
The plan would see the mall demolished, beginning at the with the Sears/Bon-Ton wing and ending with the Movie Theater wing, which is set to remain open until the end of the year. The mall is expected to be completely demolished by the end of the winter.
Northpoint Development will then construct two warehouses, 890,000 square feet and 360,000 square feet respectively, and are projected to create a minimum of 830 jobs.
Northpoint currently does not have tenants lined up for the new warehouses.
The Missouri-based Northpoint Development is requesting Schuylkill County to enact Local Economic Revitalization Tax Assistance for the properties.
Such a plan allows taxing authorities to exempt new construction in deteriorated areas of economically depressed communities and improvements to certain deteriorated industrial, commercial and other business property.
If the plan is enacted, property owners would see a 50% tax break over a decade, increasing the value of the property.
The mall is currently valued at $2,000,000, but is expected to be worth over $20,000,000 after 10 years of development.
The mall property's other taxing authorities, New Castle Township and Saint Clair Area Schools, have approved LERTA.
The following are projected tax revenues for each taxing authority with LERTA enacted.