Baltimore County has finalized a $6.5 million deal to redevelop the Macy’s site at Security Square Mall, aiming for a mixed-use transformation.
Baltimore: County officials are moving forward with plans to revamp the struggling Security Square Mall. They just wrapped up a $6.5 million deal to buy the Macy’s building.
This deal was approved by the Baltimore County Council last summer. It’s part of a broader effort to breathe new life into the aging mall with mixed-use developments.
Macy’s recently announced it would close 66 underperforming stores, including the one at Security Square, which has been around since 1972. Other closures include locations in 20 states.
Sameer Sidh, a senior deputy administrative officer, mentioned that the goal is to redevelop the site based on community input. Securing the Macy’s property is a big step in that direction.
Last February, Macy’s said it would shut down 150 stores as part of a turnaround plan, targeting the least productive locations. They didn’t specify which stores would close at that time.
While Macy’s hasn’t commented on the Maryland closures, they are looking to find new roles for affected employees within the company.
Interestingly, Macy’s had been quietly looking to sell its store sites and approached the county last May, leading to this successful acquisition.
Since 2022, the county and state have set aside $30 million for property purchases, spending over $23 million so far. This makes the Macy’s deal the largest of several mall property acquisitions.
County officials believe owning Macy’s is key to their redevelopment plans. Sidh called this deal an important milestone for the project.
Now, the county owns 39 of the mall’s 88 acres and is in talks with other property owners about future plans. These include a church and the mall’s main owner.
Sidh expressed optimism about the interest from other owners in the redevelopment vision.
The county has hired a consultant to explore development options and plans to offer land to private developers who align with their vision.
The amount of land the county controls will shape the type of development, especially around a planned transit stop.
Plans to redevelop the 53-year-old mall have been in the works for years, especially given its location near major highways.
For now, the county is leasing the space back to Macy’s until they close. They previously bought a former Sears and a parking lot for $10 million and another parking lot for $6.85 million.
Community members are excited about the potential for new recreational and entertainment spaces, along with a mix of residential and retail options. They’ve long wanted to see the mall revitalized.
In 2021, the local NAACP formed a task force to address the lack of investment in the mall. A recent report showed residents want walkable areas with mixed-use developments.
The long-term vision includes outdoor spaces for recreation, walking, and biking, along with a blend of residential, office, and retail spaces.
Last summer, Burlington announced it would leave Security Square for a new outlet in Catonsville.
Macy’s still operates 14 stores in Maryland, including seven in the Baltimore area.
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