Updates on Cloverleaf Mall Renovations

We’re excited to hear that the county of Chesterfield is finally getting back to determining the outcome of Cloverleaf Mall. While the property is just outside the city limits, it’s close proximity to Chippenham Parkway makes it a prime location of interest to residents of Southside, both east and west. What opened in 1972 was […]

January 12, 2011; 2:41 PM • by christina

We’re excited to hear that the county of Chesterfield is finally getting back to determining the outcome of Cloverleaf Mall. While the property is just outside the city limits, it’s close proximity to Chippenham Parkway makes it a prime location of interest to residents of Southside, both east and west. What opened in 1972 was once my family’s big shopping location when I was growing up, but eventually and sadly fell into hard times in the 90’s and saw its final tenant leave in 2008. The property has sat empty and gone through back and forth discussions between the county and potential buyers and their particular interests. One often mentioned addition to the site would be the largest Kroger grocery store to date.

We learn from the Richmond Times Dispatch that there will be a public hearing of the Board of Supervisors tonight, January 12, 2011 concerning a memorandum of understanding for future use, where we might finally see work underway this year. Another interesting point in the article is this mention which could enable much needed improvements to the whole of the Midlothian corridor. So if any of our readers resident in the County, you might want to attend.

At the afternoon work session, the board plans to vote on another related though distinct plan for the area. It would allow business near the mall to create an Eastern Midlothian Turnpike Service District that would use a special tax assessment to finance aesthetic improvements on and near Midlothian Turnpike between Chippenham Parkway and Turner Road.

This could be the day that something begins to happen at the old Cloverleaf Mall site.

The Chesterfield County Board of Supervisors is expected to vote tonight on a memorandum of understanding that could set in motion the financial deal that will begin the revitalization of the property on Midlothian Turnpike at Chippenham Parkway.

The public hearing on the topic is part of the board’s 6:30 p.m. regular meeting. The 3 p.m. work session that precedes the meeting is to include a vote on a public hearing on the creation of a special tax district to pay for aesthetic improvements along part ofMidlothian Turnpike.

The three-part package of items about the mall site is centered on the issuance of $5.6 million in bonds that will finance infrastructure improvements on the site. If approved, the deal between the county and Crosland Stonebridge LLC will set in motion the demolition of the mall, perhaps as early as March or April.

Once the building is gone, the Charlotte, N.C.-based company hopes to turn the property into a mix-used development. The project will involve about $11.3 million in bonds, issued through the Chippenham Place Community Development Authority. The amount was split in two last summer to facilitate a prompter approach to development in an economically challenged real estate market.

“It’s the last hurdle before we can get going,” said Matt Harris, a senior budget analyst for the county.

He said splitting the amount “aligned the financing with current market conditions.”

A Kroger grocery store would anchor the first half of the project.

The bonds would be repaid by increased real estate assessments and sales tax collections created by development of the mall site. But in case that doesn’t work out as planned, the county budget office is also presenting a request to make special assessments on those properties. If the planned increases don’t pay for the bonds, the extra assessments will, Harris said.

At the afternoon work session, the board plans to vote on another related though distinct plan for the area. It would allow business near the mall to create an Eastern Midlothian Turnpike Service District that would use a special tax assessment to finance aesthetic improvements on and near Midlothian Turnpike between Chippenham Parkway and Turner Road.

Steve Meadows, the president of the Gateway Association, which represents many of those businesses, said there is widespread support for the plan. It would assess a 3 percent additional assessment on property, with the money used for landscaping on and near Midlothian Turnpike in the three-quarter-mile-long area.

The board also is expected to choose its leaders and set its meeting schedule for the year.

January 12, 2011 2:41 PM 0