McWhinney Files to Purchase Foothills Mall in Fort Collins
Loveland's McWhinney Real Estate looks to be the new owner of the much-beleaguered Foothills Mall by late 2021.
'That's great!' was the first thing I said when I saw The Coloradoan's headline about McWhinney buying Foothills. 'A local success story buying, and hopefully saving another local entity.'
Foothills Mall, according to the Coloradoan, went into receivership in October of 2020, when the current owners failed to make a loan payment.
If you're not familiar with McWhinney, they began in 1991, most notably as two great-grandsons of homesteader Johh Hahn, Todd and Chad McWhinney purchased 440 acres of Hahn's property and helped to create Centerra.
30 years later, McWhinney continues to grow its portfolio. They have properties and investments in six states, including The Promenade Shops at Centerra and Union Station in Denver.
McWhinney also created the 'Cycle' development, close to Foothills Mall; according to the Coloradoan, the 'new' Foothills' will look at maybe (as part of the overall restructuring) tearing down some existing buildings to increase parking, while putting residential where parking is now.
It doesn't sound like that, immediately, that they want to take away the 'Foothill' name. That, to me, would be a huge game-changer. But by doing so, they could shed what's become an albatross of a name: 'Oh, Foothills.. whatever.'
There's still a lot of paperwork and approvals to go through, but by 2022, things could look much different at Foothills Mall, as a McWhinney property.
Get more on the McWhinney purchase from the Coloradoan HERE.
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