http://bostonherald.com/business/real_estate/2013/01/1970’s_era_medford_mall_due_major_makeover
1970’s-era Medford mall due for major makeover
January 10, 2013
By Greg Turner / Boston Herald
Shopping center king Steve Karp’s company has a makeover in mind for the Meadow Glen Mall in Medford.
Karp’s New England Development is in the preliminary stages of redeveloping the 34-year-old mall anchored by Kohl’s and Marshalls and located on Mystic Valley Parkway.
“We are looking at updating it, but we don’t have any specific plans or a timetable,” said Deborah Black, spokeswoman for the Newton real estate firm.
The small indoor mall opened in 1979 and sits on 21 acres owned by a partnership of Karp and fellow mall developer Steve Weiner. The 50-store mall is managed by Urban Retail Properties of Chicago.
An attorney representing the mall approached city officials last year about possibly converting the 260,000-square-foot mall into a “lifestyle” center, by replacing the middle section between the anchor stores with a strip of shops, each accessible from the outside.
There are reports that Walmart, which scrapped plans for new stores in Somerville and Watertown last year, is eyeing the site.
Lauren DiLorenzo, director of Medford’s community development office, said the city is interested in seeing more done with the property, which is adjacent to a 260-unit luxury condo building, LoConte Rink and Shaw’s supermarket.
“We’d like to see the property maximized to more of a mixed use and really start to create a neighbor in that area,” DiLorenzo said, “but they are retail owners.”
Retail expert Mike Tesler said that even if the Meadow Glen Mall is refreshed, it would still face stiff competition from other mixed-use projects down the Mystic River — namely National Development’s Station Landing near the Wellington MBTA station in Medford and Somerville’s Assembly Square.
“It’s going to depend on getting an interesting and appropriate mix of (new) stores because that’s a very competitive retail market there,” said Tesler, of Norwell’s Retail Concepts. “It’s really going to be a challenge for Karp.”