With the Mall expected to close in July of this year, Onyx Partners is committed to providing financial relief for the existing businesses as they continue to work with, the City of Springfield and other community partners, including the Economic Development Council of Western Massachusetts, in securing new locations to relocate too by providing rent assistance support by forgoing the collection of all rent and utility costs until the mall officially closes. This rent assistance support, which is in excess of $500,000, will allow the small local business tenants to remain open and operational without rent or utilities until the mall closes.
Mayor Sarno states, “Right from the beginning I stressed to Onyx the importance of bringing assistance and relief to the local small business tenants of the Eastfield Mall. After a number of meetings with Onyx, I am pleased to announce that they have agreed to allow the local small businesses of the Eastfield Mall to stay rent and utility free, which amounts to half a million dollars ($500,000) in assistance. I want to encourage everyone to continue to patronize and support all these local small businesses at the Eastfield Mall.”
“I am pleased that working together with Onyx we’ve been able to come to this agreement,” said Mayor Sarno. “Also, I would like to thank the EDC for their continued efforts to assist the small local business tenants with relocation during this time of transition and the rebirth of ‘Springfield Crossing’. Stay tuned for more exciting announcements.”
“The development of Springfield Crossing is going to bring a vibrancy to the area with new opportunities for the community with retail and commercial growth,” said Anton Melchionda, founder of Onyx Partners Ltd and Amherst, Massachusetts, native. “This property will be a showcase for our City and central hub for the area.”
“We can’t stress enough that the mall is open and operating with over 40 local and national tenants, and we ask the community to come out and support them," said Melchionda.
"The financial relief from the developers will certainly help the businesses throughout this transition and we recognize that additional support for moving expenses and technical assistance will be needed as we move forward," said Xiomara DeLobato, Vice President and Chief of Staff of the Western Mass EDC.
The Springfield Crossing development will transform the Eastfield Mall property and enhance the economic vibrancy of the Boston Road corridor with a state-of-the-art central mixed-use commercial and retail hub encompassing the 46-acre site. The development will include a nationally recognized anchor and other well-known national brand tenants who will be announced at a later date as the development project advances.
“This is an exciting economic development project, one that will reinvent and enhance the commercial and retail activities and amenities along our Boston Road corridor,” said Mayor Sarno. “This is all about that good four-letter word – JOBS! So, stay tuned for more good news to come.”
In closing and again, Mayor Sarno and Onyx Partners encourages residents to continue to patronize and support the existing businesses at the Eastfield Mall, many of which are local ‘mom and pop’ retailers and businesses.
For additional information on the future development of Springfield Crossing, please visit Onyx Partners website at www.onyxpartnersltd.com for updates