TOLEDO, OH (Toledo News Now) - After being vacant since 2009, new reports claim there could be a potential buyer for the old Southwyck Mall site.
The mall is located at 2040 South Reynolds Road in south Toledo and was demolished in 2009. Since then, many of the businesses along the corridor have closed. People in the Southwyck area hope the plan finalizes and turns the area around.
Deals have fallen through in the past and there have been a lot of rumored buyers that never came to be.
City officials said there has been a deal in process for quite some time over the site, which has 68 acres. MD Property Management out of Kansas City has controlling interest in the property and works with the city as a facilitator.
The buyer is interested in converting the space into mixed-use development, places that have a mix of retail and office space, such as Levis Commons.
City Councilman Michael Collins said he is unaware of any deal, but there is strong potential for the property.
"It is probably, according to what I've been told, the most valuable piece of property in the entire city of Toledo. Its proximity to the Ohio Turnpike, 60,000 cars traverse to and from, both north and south on that property on a daily basis," said Collins.
The city is repaving nearby Southwyck Boulevard as it continues to market the property.
"It's a mine waiting to be tapped for the second time that I think will present itself as a vibrant future for south Toledo and Toledo as a whole," said Collins.
City officials will not say who the buyer is.