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Hobart business scales back expansion plans; cites COVID-19 pandemic

He said there are plans to ultimately expand the building in a second phase, but they’re not ready to talk about that at this point. Halleck said the architectural design of the building and the company that will occupy it are the same.

WATCH NOW: Southlake Mall s struggles part of broader retail woes, may require reimagined space

HOBART — Southlake Mall, the focal point of retail in the Region for nearly a half-century, is being managed by trustees and facing foreclosure in Israel, where owner Starwood Retail Partners owes $145 million in debt from a recent refinancing. Now managed by Pacific Retail Capital Partners, the two-story mall at U.S. 30 and Mississippi Street has suffered from some major vacancies — such as the Carson s and Sears anchor stores after those department store chains went bankrupt. It has been operating with restricted hours since the coronavirus pandemic started. More than 12,000 Hoosiers have died from COVID-19 since March 2020. There are real names, faces and human stories behind that staggering number. This Sunday, The Times partners with 11 Indiana news agencies to share the stories of dozens of “Hoosiers We’ve Lost” in a special print section and online presentation. Watch for it Sunday.

UPDATE: Southlake Mall under new management after owner defaulted on debt in Israel, reportedly faces foreclosure

UPDATE: Southlake Mall under new management after owner defaulted on debt in Israel, reportedly faces foreclosure
nwitimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nwitimes.com Daily Mail and Mail on Sunday newspapers.

Southlake Mall under new management after owner defaulted on debt in Israel, reportedly faces foreclosure

Southlake Mall, which has been Northwest Indiana s premier shopping destination since it opened in 1974, is again under new management after its owner defaulted on debt in Israel and now reportedly faces foreclosure. California-based Pacific Retail Capital Partners and New York City-based Golden East Investors were appointed to oversee seven Starwood malls, including the 1.36 million-square-foot Southlake Mall at U.S. 30 and Mississippi Street in Hobart. The holders of bonds totaling 910 million Israeli shekel, or about $250 million, selected the companies late last year as trustees to manage Southlake, as well as Belden Village Mall in Canton, Ohio; Capital Mall in Olympia, Washington; Great Northern Mall in North Olmsted, Ohio; Parkway Plaza in El Cajon, California; Plaza West Covina in Covina, California; and Franklin Park Mall in Toledo, Ohio.

Merrillville starts process for bond issue

MERRILLVILLE — The Town Council has started the process of establishing financing for much needed paving work throughout the municipality. The panel recently gave initial approval to a $5.9 million bond issue to fund roadwork and purchase new equipment. “This year we are going to concentrate on wards 1, 3, 4, 5 and 7,” Merrillville Engineering Administrator Steve King said. Town officials initially planned to focus solely on roadwork with the bond, but they recently decided to increase the amount to include new equipment. Council President Rick Bella said Merrillville will purchase three dump trucks and a backhoe “that we’re in desperate need of for the Public Works Department.”

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