Capital Mall to soon start multi-million dollar project
The owners of the Capital Mall In Jefferson City are planning to soon start several major renovations to improve the aesthetics of the complex.
“The landscaping plan is going to be much improved, there are going to be physical improvements, an enhanced and updated facade so it’s going to look like a very modern building compared to what it looks like today,” said Janice McMillian, the Director of Planning and Protective Services for Jefferson City.
McMillian said the project will be paid for by several different ways. The first by the mall’s owner Farmer Holding Company, the second through a community improvement district that would collect an additional sales tax at the mall, and third by a collecting taxes from the transportation development districts in town. Those include the areas of Stone Ridge Village where Kohls is located and the east Walmart Super Center.
The city council also approved a tax increment financing district, or TIF, which would allow the malls owners to only have to pay taxes on the current mall’s assessed value for the next 20 or so years, without the cost of the new renovations.
The mall opened in 1978 and McMillian said the city hopes improving everything from the exterior of the building to landscaping will influence shoppers to stay in town.
“I think it would, I think it would be very attractive to shoppers,” said shopper Carol Jordan.
“I see a lot of empty stores, I see potential and I’ve always thought to myself, I wish I had some buyers or investors to put some money into this area,” said another shopper.
“It is a multi-million dollar investment to improve the Capital Mall and we want to encourage that improvement in our city. We think it could only benefit the city as a whole to have an improved retail center such as Capital Mall, to be updated and to hopefully attract a wider range of shoppers,” said McMillian.
We did reach out to the owners with Farmer Holding Company and were unable to get a hold of them today.
The Jefferson City Planning & Zoning Commission is planning an open to the public meeting next Thursday January 15th at 5:15 p.m. in the City Council Chambers at the municipal building.
