‘Transformative opportunity': Jacksonville's Regency Square Mall sold to Blackwater Development
The sale of the Regency Square Mall in Arlington is now finalized.
This comes after years of community complaints about the dying mall, according to Jacksonville City Council member Ken Amaro, who represents that area.
That's because of the numerous problems inside the once-thriving mall, from a failing A/C system to mold problems and a leaky roof.
Action News Jax has been telling you about the deteriorating conditions at the mall for years.
We reported in February the mall racked up fines of $1.8 million for code violations.
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At that time, the city sent a settlement agreement to the prospective buyer for the property, giving them the option to reduce the fines based on completing all the repairs and getting back into compliance.
Now, Blackwater Development is the new owner of the Regency Square Mall property, with plans in the works to redevelop the space.
Amaro said in a statement on Thursday morning that he hopes the new owners' vision is to create opportunities for new businesses, housing, and shared spaces.
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Here is Amaro's full statement:
'The recent acquisition of the legendary Regency Square Mall marks an exciting milestone for our community's growth and transformation. This property represents more than just land—it is an investment in our collective future not only for the Arlington area, but Jacksonville as a whole.
'For years this former gem of all shopping centers has been the bane of community complaints. This past summer, my office dealt with the issue of their malfunctioning AC units with the utmost firmness and efficiency, and we were successful in getting what would be considered the only improvement the former owners have ever made to the mall during their tenure as owners completed. This only reinforces the fact this sale was well overdue.
'As the district council member, I aspire for the new owners to cultivate a prosperous and connected community where residents can live, work, and play for generations to come. The principal of Blackwater Development, Mr. Rurmell Mcgee, said they have been in pursuit of this property for six years, and after all this time they have finally secured the sale. My hope is that the new owners' vision is to create opportunities for new businesses, housing, and shared spaces that reflect the needs and aspirations of everyone in the area. It cannot be stressed enough - this is a transformative opportunity that I hope the new owners will take full advantage of.
'Again, congratulations to the new owners of the Regency Square Mall property. This is a new day for Arlington and Jacksonville.'
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