Miracle City Mall

What once was a bustling mall, Miracle City, off U.S. 1 in Titusville, is now a symbol of economic troubles. Led by Brevard County Commission Chairman Robin Fisher and Titusville Mayor Jim Tulley, the Greater Titusville Renaissance has made redeveloping the mall a top goal. Commissioner Robin Fisher is taking the lead to find a buyer for the mall site, as well as find investors who would redevelop the property into an open-air “lifestyle center” along the lines of The Avenue Viera, combined with medical facilities and possibly other commercial tenants. “It could be a tremendous turning point” for the city, Titusville Area Chamber of Commerce President Marcia Gaedcke said. “It would be fabulous. It would be a great win for the community.”

Parrish Medical Center is studying a plan to consolidate its network of physician offices, diagnostic centers and testing labs now spread throughout the Titusville area into one building that would be constructed on the Miracle City site. Parrish President and Chief Executive Officer George Mikitarian said initial indications are that the medical complex project, similar to one Parrish already has in Port St. John, would be viable, although the study will take a few more months to complete. Fisher said if Parrish comes onboard, and if a long-term lease extension can be signed with J.C. Penney Co., the Miracle City redevelopment project would become more attractive to investors. He is taking on the role of a real estate agent of sorts, and plans to seek investment from large local pension funds and wealthy individuals. Others on the committee plan to reach out to contacts within the retail and restaurant industries to line up tenants. Fisher envisions a new store being built for J.C. Penney, followed by demolition of the existing mall. Meanwhile, other buildings would go up on the site for Parrish’s medical complex and for restaurants, smaller retailers and maybe even a movie theater.

The Space Coast Economic Development Commission has reached a preliminary agreement with the mall’s current owners to lock in a sale price of $5.5 million for the property, a price that’s good through November 30, 2011, contingent on an appraisal of the property and financing. The money to buy the mall site would come from private investors, and no county or city money would be used. Titusville Economic Development Director Matt Chesnut said the Space Coast Economic Development Commission’s agreement with the Lake City family that owns Miracle City to lock in a purchase price makes it more marketable.

Fisher and Greater Titusville Renaissance community leaders, businesspeople and other residents hope to persuade retailers and restaurateurs that Titusville can be a good place to open a store or eatery. “We believe that if we can get the Miracle City site thriving, it will encourage other development in our city. A symbol of economic pain for Titusville has a chance to become a symbol of rebirth,” said Fisher.

Contact Greater Titusville Renaissance to invest in or to express interest in becoming a tenant at a redeveloped Miracle City Mall. (Go to Blog)