For those who haven't been recently, Promenade seems to be clearly circling a drain. They lost 2 of 4 anchors, and then replaced half of one. Only about a dozen major chains left in the central mall area, most of the shops are local and many of them don't appear to be the kind of businesses who look to be able to afford normal retail rent. Last time I went, I passed three non-working elevators and the north parking garage looked to be not far away from a story on being closed due to safety issues. The theater is also seemingly unable to compete with AMC across the street.
Since years ago we had the trend of closing open-air shopping areas and making them into malls, I wondered if we could do the opposite. Here's my idea:
Tear down the north parking garage, theater, and most of the central mall. Save some infrastructure and structure for phase 2:
1. Sell/lease the space where the north garage was for outparcels.
2. Turn the remaining Mervyn's space into shared/reconfigurable office suites. 8x8 rooms with free wifi and up, things like that. Most commercial office space these days is primarily large spaces and long leases.
3. Turn the former Macy's space into a year-round farmer's market. Maybe start first floor only at first. As long as the space can meet foodservice code, lots of growers and upstart bakers and makers could make money off of a booth here. The parking garage provides ample convenient parking for getting stuff to/from cars in all weather.
4. Replace on what was the south half of promenade mall (food court side) create an open air market for vendors who need a cheaper space or less hours. Only open in good weather, and maybe weekends. Also add a fountain or other large feature in this area as this is the new main entrance of the center.
5. On what was the theater side, created indoor spaces which face south. This is for people who want something even more permanent that the farmer's market. Permanent, independent retail. Lease could include part of the open air space as well for fair weather dining or drinks. This side could even be made two story at some point.
These concepts could expand to the Dillards and JCPenny spaces if those businesses go and cannot be replaced with similar.