A shopping center across from the Greenwood Park Mall is getting a major facelift after a new owner pulled it out of financial trouble.
Real estate investment company Bianco Properties spent $10.1 million to buy the Greenwood Shoppes strip mall, which houses businesses including Half Price Books, Men’s Wearhouse and Mattress World, according to county property records. The previous owner had filed for bankruptcy.
Bianco Properties, based in suburban St. Louis, is spending about $850,000 for major renovations to the decades-old shopping center at U.S. 31 and Fry Road, according to a building permit. The 80,255-square-foot retail center just west of the mall is getting a new facade, canopy, coat of paint and roof repairs.
All the stores and restaurants, such as McGee Jewelers and New China Buffet, have remained open during the construction.
Greenwood Shoppes hasn’t gotten such major renovations since the 1980s, planning director Ed Ferguson said. The investment in the shopping center’s appearance shows the Greenwood Park Mall area remains strong and viable, he said.