Metrocenter mall faces possibility of foreclosure

Published 12:46 am Friday, November 26, 2010

Jackson’s Metrocenter mall faces foreclosure unless its owners catch up on mortgage payments.

It’s is the largest shopping mall in Mississippi, at 1.1 million square feet. It opened in 1978 but has been struggling as other, more upscale shopping areas have opened.

A legal advertisement says the mall’s Texas-based owner, Jackson Metrocenter Mall Ltd., faces a Dec. 15 deadline to catch up with debt payments or First Credit Bank will sell the property.

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Watkins Development, the group behind the King Edward Hotel and Farish Street Entertainment District in Jackson, wants to purchase the mall if the foreclosure goes through. That’s according to Watkins Vice President Jason Goree.