|The roof on the east side of the Elk Grove Promenade has steadily deteriorated since construction stopped four years ago.|
Last Saturday marked the fourth anniversary of the day the mall died - or at least went into a long-term coma.
As reported by The Elk Grove Citizen, construction of the Elk Grove Promenade came to a sudden halt on or about July 29, 2008. The construction stopped just as the international credit crisis escalated and was a precursor to the mall's original developer, General Growth Properties (GGP), filing of what would become the the nation's largest real estate bankruptcy.
Since that time, not much has happened. The half-constructed mall has slowly deteriorated, GGP emerged from bankruptcy and the ownership of the Promenade was transferred to the Howard Hughes Co.(HHC). Oh, there have been a few glimmers of hope offered up, the most recent by Elk Grove Economic Development Director Randy Starbuck who said he had identified several prospective anchor tenants for HHC.
But if there were any positive news on the mall, you can bet the city would be all over it. But there is nothing to report, so the coma watch continues.