THE FOLLOWING IS A NEWS-GAZETTE STORY BY JENNIFER BAILEY
ABOVE: Danville Area Community College is set to open a barber school later this month in the Village Mall and is ‘happy to remain tenants for the new owner,’ President Stephen Nacco said.
DANVILLE — The city’s announcement about a new owner for the Village Mall is fueling hopes for revitalization among residents, officials and employees alike.
Sallie Beasley, assistant manager at Citi Trends, one of the mall’s few remaining tenants, said it’s great to hear positivity about the mall instead of news of more tenants leaving.
“I am excited. I feel like we definitely need it,” the Danville resident said about possible new tenants and revitalization of the mostly empty property.
Danville Area Community College President Stephen Nacco said DACC is excited about opening its barber school in the mall.
“We’re extremely encouraged about what we’ve read regarding the owner’s plans,” he said, adding that the barber school is set to launch later this month and “we are happy to remain tenants for the new owner.”
Much of the excitement is focuses on replacements for the Garfield’s restaurant and AMC movie theater.
Mayor Rickey Williams Jr. said two movie-theater operators have made first visits to the mall, and higher-up officials with one of them have already been back for a second visit.
“There was interest,” Williams said.
The AMC Village Mall 6 closed in 2022.
Another area of buzz involves letters of intent the former mall owners secured with Five Below and Ollie’s Bargain Outlet to open locations that never came to fruition.
“I don’t know if they are still valid,” Williams said about the letters of intent.
More than a year ago, Williams said the former Carson’s department store was to be divided into three spaces, with one them already having a letter of intent from a new business. He didn’t name Five Below or Ollie’s then.
Jimmy Virk, CEO of the mall’s new owner, California-based Beyond Bancard, said the company has traditionally helped businesses and customers with payment processes but has been expanding into development projects.
Williams said the Village Mall will be Beyond Bancard’s 14th or 15th project. The mayor said he not sure about the next steps for the new owners, who closed on the interior and outside anchored mall sections in June and July, but he’s “absolutely” hopeful for the future.
“They have the resources,” he said of Beyond Bancard’s ability to revitalize the mall.
He said Virk and Beyond Bancard have $5 million to invest in the property and multiple millions in reserve, whereas the failed attempt to renovate Bresee Tower, for example, involved two individuals relying on their pensions.
Williams said he’s also confident current tenants will stay, given the possibility of new attractions and more potential customers. He said those tenants all have different leases that expire as early as next year and as late as 2029.
Williams said Virk also wants to bring an indoor theme park in the style of Malibu Jack’s in Springfield to the mall.
“He wants that type of entertainment,” Williams said about a facility for all ages that could include an arcade, mini golf, a go-kart track, bowling or laser tag.
FOR COMPLETE ACCESS TO THE NEWS-GAZETTE STORY PLEASE GO TO https://www.news-gazette.com/business/retail/news-of-village-malls-new-owner-creating-excitement-throughout-danville/article_a89edaaa-4db3-11ef-bb53-8bd8613872ea.html
