Waterford's Crystal Mall Could Be Sold, Redeveloped: Reports

WATERFORD, CT — The owners of the Crystal Mall in Waterford are exploring selling or redeveloping the property, The Day of New London reported.

Namdar Realty Group, which owns the mall, said it is "exploring a number of different options for Crystal Mall, including a potential sale, as well as potential joint venture redevelopment partnerships," according to Hearst Connecticut Media.

The mall's ownership said it will announce plans for the property soon and is in close communication with Waterford officials.

Namdar purchased the mall at auction last year. The company owns 289 retail properties, including the Enfield Square Mall and the Meriden Mall.

See related: Mall Proposed For Conversion To Mixed-Use 'Enfield Marketplace'

A proposal for the Enfield Square Mall, which has an 85 percent vacancy rate, calls for total demolition of the entire structure save for Target, with the remaining 570,000 square feet to be a mixed use of retail, dining, two hotels, and about 450 units of luxury multi-family housing.

Whether a similar proposal is on the table for the Crystal Mall remains to be seen, but the property has seen a similar mass exodus over the years. Recently, Bath & Body Works, Dairy Queen/Orange Julius, and Cohen's Fashion Optical became the latest announced exits.

JCPenney, the last remaining anchor store at the Crystal Mall, will close this month.

Located at 850 Hartford Turnpike in Waterford, the mall was built in 1984 with additional construction in 1987. The two-story, 535,494-square-foot mall sits on 82 acres.

Managers of mall properties across the state are exploring their options due to a decline in business, with several considering redevelopment for residential usage. At the site of Westbrook Outlets, a developer is pitching a massive, $425 million development with 595 apartments, 100 townhomes, a new hotel, restaurants, and entertainment space.

A developer has plans to convert an abandoned Lord & Taylor space at the Danbury Fair Mall into 144 residential units.

In Milford, the Connecticut Post Mall's owners have gained zoning approval to allow housing on the site. This could come in three phases, with each phase adding 250 residential units.