AMHERST, NY — The Eastern Hills Mall has new ownership.
The Amherst-based Uniland Development Company announced Wednesday that it will join forces with Mountain Development Corp. to purchase and redevelop the Clarence mall's 80-acre site into a “town center” destination.
Terms of the deal have not been disclosed, however Business First is reporting that the sale of the mall carries a $14.5 million price tag.
“While we are excited about evolving this prime real estate into a next-generation environment, we know that a project of this magnitude requires patience and diligence,” Uniland Vice President Carl Montante Jr. said in a statement. “It is paramount that we execute this properly for the benefit of the residents who will live there, the businesses that will operate there, the guests who will visit there, and the entire Amherst-Clarence community.”
Uniland says that physical signs of the redevelopment of the property will not begin until after an "extensive feasibility and master planning process," which could take up to three years.
The "town center" would include a mix of retailers, restaurants, entertainment uses and other businesses, according to Uniland.
Uniland has set up an information page to hear what the public wants out of the site.