“The start of construction has been delayed because we continue to work through the specifics of a very complex finance agreement with the City,” Provost said.
In May, Fort Collins City Council approved a $53 million public finance package for the project that included elements relating to the Youth Activity Center, the relocation of the Arc Thrift Store and the inclusion of an affordable housing component.
Discussions surrounding these details have been ongoing for nearly five months. Until they are finalized, no demolition or construction can occur on the 77-acre property.
The total price tag for the project, which includes both a residential and commercial component, is $312 million. The redeveloped mall was supposed to be open in time for the holiday season in 2014.
“We hope to complete it soon. Once the agreement is finalized we will be able to determine what a new timeline for start and completion will be. We look forward to bringing a reimagined Foothills Mall to Fort Collins very soon,” Provost said.