IE Business Daily Business news for the Inland Empire.
Two developers have proposed buying part of the Corona Mall so they can revive it, perhaps with a combination of retail and residential.
Foremost Communities Inc. in Newport Beach, which deals primarily in residential projects, and Coronal 3rd Street LLC both have approached the city council about buying part of the mall, according to a report in The Press-Enterprise.
Both want to buy property that is owned by the state, or by private individuals or trusts, according to the report.
The mall was built in the 1960s as an facility. Some former retail space has been converted to office space, but much of that remains empty, according to the report.
Council members have agreed to hold a study session next month during which the proposed sale will be discussed, the report state.
