Sunday, January 06, 2013

Financial Troubles At Stonecrest Mall In Dekalb County

Mall at Stonecrest facing debt woes

This is surprising news.
This is the mall that I went to last weekend to do my observations of "Black consumerism".

The mall was packed full of post-Christmas shoppers.  I didn't notice a vacancy rate that was any worse than the average mall.

The article doesn't make it clear if they are focusing on the "indoor mall" - which had only a few vacancies or the "out-lots" - the "strip buildings" that line the perimeter of the parking lot of the main mall.   YES - there was about a 35% vacancy rate in these parcels.

Stonecrest Mall had a diverse but majority Black shopper base.  There was no "ghetto mall" effect that some say is present at "South Dekalb", (the former) "Shannon Mall", "West End Mall" or "Greenbriar Mall".  

We should also note that "CampCreek Marketplace" (East Point on the west side of town) is a thriving outdoor mall development with a majority Black middle class clientele.   The new housing developments around the property make this a "live-work-shop-play" environment.  

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