Investment group plans redevelopment of Idaho mall
NAMPA, Idaho (AP) — A California-based investment group is planning to spend more than $30 million to redevelop an Idaho mall, adding multifamily housing and a hotel to the site.
Idaho Press reported Thursday that Rhino Investments purchased Karcher Mall in Nampa earlier this month after the property had been on the market for three years.
Rhino CEO Sanjiv Chopra says the redevelopment will make use of as much of the 37-acre (15-hectare) property as possible.
He says part of the mall will be demolished, but its big retailers will remain. He says an entertainment center and a fitness center also will likely move in.
The indoor shopping mall opened in 1965, but it started struggling when a newer and larger mall opened in nearby Boise in 1988.
Information from: Idaho Press, http://www.idahopress.com