Golden Triangle Mall in Denton is getting new owners -- and more than just a new coat of paint.
GTM Development, a limited partnership between The MGHerring Group and Cencor Realty Services, has completed acquiring the mall and will soon turn to redeveloping the 765,000 square foot property at I-35E and Loop 288 in Denton.
The mall will get a new facade, redesigned entrances, and exterior landscaping. Inside, new storefronts for retailers will reflect the style of each of the tenants. Victoria's Secret new storefront, which opened in October, is already an example of the new design, the group says.
From the press release, it sounds like the mall will get a full makeover -- new flooring, materials, design elements, and new amenities throughout the mall are all detailed.
The group also says a new food court and additional upscale, full-service restaurants are in the redevelopment plans.
The City of Denton is also supporting the redevelopment with a Economic Development Grant Agreement that was approved back in August.
"The purpose of the incentive is to encourage the location of more national tenants and to increase sales tax revenues, without sacrificing any existing tax revenues," Denton Mayor Mark Burroughs said.
Redevelopment is scheduled to begin in early 2012 with a grand reopening of the mall slated for next Fall.