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UPDATE: Swansea Mall prospective owners get decisions they were looking for

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UPDATE: There were three major developments at tonight’s Swansea Town Meeting that were in favor of the potential buyers of the Swansea Mall.

There was a majority vote in favor of petitioning the General Court to increase the quota of liquor licenses by adding an additional six (6) non-transferrable All Alcohol – To Be Drunk on Premise licenses, for the purpose of creating targeted economic development and redevelopment opportunities, said licenses to be issued only along Route 6 from Gardner Neck Road to Milton Reiser Road, and from Route 6 and Route 118 in a northerly direction 3,900 feet +/- to the northerly most point of the Swansea Mall, so called, and to declare this area as the “Swansea Mall Redevelopment Area”. The area includes Kent’s.

There was also a majority vote in favor of instituting a Redevelopment Authority which could remove restrictions placed on the property by Walmart.

The town voted in favor to raise, appropriate, or transfer the funds necessary to begin the process of establishing an Urban Renewal Plan, and to provide for related consulting services for the Redevelopment Authority for this purpose, or take any other action in relation thereto. ($50,000).

Due to these actions, it appears we will find out who the prospective buyers of the Swansea Mall are and they could close as early as this week.

Our previous story:

The Swansea Mall having new ownership is one step closer to realty.

According to Town Selectmen Chris Carreiro, yesterday afternoon the prospective buyers of the Swansea Mall, along with their representatives, came by helicopter to meet with nearly all of the Swansea Town Department heads as part of their due diligence, in anticipation of the Town of Swansea voting in favor of a Swansea Redevelopment Authority at the Annual Town Meeting this Monday, May 20th at 7:00 p.m.

Carreiro stated that during their conversations with Department heads, they emphasized that purchasing and closing on the Swansea Mall is hinged on whether the Town creates a Redevelopment Authority. The prospective buyers have even coordinated their closing with this vote. If the Town votes in favor of a Redevelopment Authority, the Swansea Mall should have new owners by late next week according to Carreiro.

Carreiro made a presentation at the end of December concerning a plan for the mall that included a possible redevelopment plan for the Swansea Mall property. Since that time, the mall has closed and Carreiro has been at the forefront of attempting to ease the Walmart restrictions and instituting a Redevelopment Authority in the town.

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