Major upgrade to start at old Dillard’s location inside Provo Towne Centre
Courtesy Lori Hardy
A red and white banner indicates construction upgrades will soon begin at the former Dillard's site inside Provo Towne Centre in preparation for a new national retailer.Shoppers at the Provo Towne Centre over the weekend may have noticed the new red and white signage that has gone up indicating someone is working on an upgrade at the old Dillard’s location in the mall.
Brixton Capital is starting the first phase of renovation of the former Dillard’s building at Provo Towne Centre, with a note telling the public to “stay tuned.” The eastern entrance of the Dillard’s building will be fenced this week, with interior renovation work starting immediately.
Dillard’s opened a new location in Orem and closed the Provo store at the end of May.
Brixton purchased the 206,240-square-foot, two-story building on 12.5 acres in February. Brixton also owns the rest of Provo Towne Centre, which it purchased in 2016.
In speaking about the purchase of the property in an earlier press statement, Brixton Capital President Mark Selman said, “This acquisition is critical in our long-term plans for redeveloping Provo Towne Centre. With our now total ownership of Provo Towne Centre, we can advance our transformation of the entire center into a mixed-use project that will benefit the Provo community for years to come.”
Brixton Capital is in advanced negotiations to re-lease most of the property to a prominent — but unnamed — national retailer. Brixton Capital expects the new store to open within the next two years, once the renovation of the building is complete. According to the company, the addition of this retailer will complement the ongoing plans Brixton Capital has for Provo Towne Centre, including the addition of multifamily housing and other uses to improve livability, shopping and community within Provo’s East Bay neighborhood.
“We’re excited to give the former Dillard’s building a new lease on life and to advance the process of providing a vibrant retail destination for the Provo community,” Selman said.
Renovation efforts are in preparation for the national retailer, to be announced in the coming months. Brixton Capital is finalizing leases for uses, including the unnamed retailer, for the entirety of the building.
Brixton Capital’s plans for the remainder of Provo Towne Centre includes moving forward with the addition of multifamily housing and other mixed uses.
Brixton, headquartered in San Diego, currently owns and operates a portfolio valued in excess of $1 billion, representing over 10 million square feet of retail, multifamily, office and land investments across the United States and Europe.
