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See photos of the abandoned ShoppingTown Mall in our gallery below!) County Executive Ryan McMahon shared the news Wednesday, that the county has sold the more than 60-acre property for $8 million dollars to an LLC consisting of four-area businesses, which plan to pump another $300 million into the site to transform the former mall into housing, entertainment, restaurant, hospitality and business districts. It will be rebranded District East, officials said. The sale includes the acreage, the mall (750,000 square feet) and a pair of outbuildings, reports Syracuse.com. The outlet broke down the county s financial stake in the property this way: Onondaga County bought the shuttered mall on Dec. 30 for $3.5 million from Moonbeam Capital. It also waived nearly $10 million in back taxes, plus $3 million in interest and late fees, on the mall.

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