PARMA, Ohio — The Parma Planning Commission has approved plans submitted by the new owners of the Parmatown Mall to create six new outlots for six new buildings.
Philips Edison and Company last year purchased the mall property with plans to redevelop. The 1.18 million-square-foot complex includes Parmatown Plaza with JCPenney’s, Walmart and Dick’s Sporting Goods, Parmatown Strip Center and Parmatown Medical Center.
According to the company, plans call for the development of the six lots along West Ridgewood Road between Ames and Ridge roads. It says the commission’s recent approval was the first step in the process of constructing new buildings.
Philips and Edison Company said now, the separate lots can be presented to retailers and restaurants. Any building and construction plans would have to be approved separately by the commission.
Roy Williams, vice president of Philips Edison issued the following statement:
“Throughout this development process, we will make many announcements regarding leases, design, construction and other key steps along the way. While it can be exciting to reveal new designs or talk about specific tenants, our extensive experience as shopping center owners has taught us not to make premature announcements. In retail real estate, many a deal has come undone after being announced while negotiations are still in progress. We look forward to sharing more information about the project as concepts and commitments are confirmed.”
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