Crabtree Valley Mall unveils new $290M redevelopment project
Officials with Raleigh's Crabtree Valley Mall have unveiled a new, nearly $300 million plan for the vacant space, formerly occupied by Sears, along Glenwood Avenue and Creedmoor Road.
Mall officials are asking the city to rezone the former Sears site to create a new mixed-use experience that would include retail, office space and hotel in a 30-story tower.
"This redevelopment will allow us to improve stormwater and pedestrian circulation while offering more entertainment, employment, and open spaces for everyone to enjoy," officials said in a news release. "Our focus is on the future and positioning the Crabtree Valley region for continued success for decades to come."
To remain competitive in today's market, mall officials said they are working to meet the changing needs of the community while also providing guests with new reasons to visit Crabtree Valley as a destination.
"The reality is, a lot of people don’t come out to the mall like we used to," said Bessie Jackson, who frequents the mall. "We go online, we go to Amazon, we go here, we go there and they drop it off in front of our door and it’s a wrap."
Jackson said she supports the proposed plan.
"Personally, I like going out to the mall, because you leave the house, you get out, you eat out... you can talk to people," she said. "I think it's a great idea."
Carol Egert, who also frequents Crabtree Valley Mall, feels differently.
"I just think traffic wise, this area’s not going to be able to handle that," she said. "This place would just lose its feel of being the mall."
The estimated cost of the initial portion of the redevelopment project is about $290 million, but officials say it will create more than 1,300 jobs.
Once completed, the estimated economic impact includes $208 million economic output in the city of Raleigh and Wake County and more than 2,200 jobs, officials said.
Officials hope to break ground on the project in the next two years. The project is privately funded and will not impact tax payers.
