Crossroads Mall (Oklahoma) facts for kids
Overhead satellite image of Crossroads Mall
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| Location | Oklahoma City, Oklahoma, United States |
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| Coordinates | 35°23′44″N 97°29′25″W / 35.3956°N 97.4904°W |
| Opening date | February 17, 1974 |
| Closing date | October 31, 2017 |
| Owner | Raptor Properties |
| No. of stores and services | 0 |
| No. of anchor tenants | 0 (4 at peak) |
| Total retail floor area | 1,268,000 sq ft (117,800 m2) |
| No. of floors | 2 |
Crossroads Mall (also known as Plaza Mayor) was a 1,268,000 sq ft (117,800 m2) super regional shopping mall and trade area located in south Oklahoma City, Oklahoma, United States.
History
Crossroads opened on February 17, 1974 with anchor stores John A. Brown, Dillard's, Montgomery Ward, and JCPenney. The name Crossroads Mall was chosen because it lies at the major intersection of I-35 and I-240, a major crossroads of the city. At the time of its opening, it was one of the largest construction projects to have ever taken place in the state of Oklahoma, and also was among the ten largest shopping malls in the United States. A 1974 a Daily Oklahoman newspaper article heralded the shopping mall as "the most magnificent enclosed and air-conditioned shopping mall in the Southwest." Before the mall's closure, the mall contained approximately 36 stores and services. It also has a very large trade zone outside of the mall building itself with numerous retailers, and restaurants, including two hotels and a movie theater. Crossroads Mall had been one of the more popular shopping establishments in the city for well over twenty years. It is noted as one of the primary reasons for the suburban flight of retail shoppes from Downtown Oklahoma City, which is now beginning to show an increase of retail shops following the Metropolitan Area Projects Plan.
Decline
In 2001 Montgomery Ward closed its doors due to bankruptcy. Even with its popularity, in its over 30-year history Crossroads lacks any substantial renovations or retail growth. The expansion of shopping centers in Moore and along I-240 west of the mall has also contributed to a dramatic decline in the number of shoppers. Crossroads Mall is situated in an area of increased gang activity, leading to an increase in crime and safety issues. Teen loitering had increasingly become a problem to the point that on October 26, 2006, the mall imposed a weekend curfew prohibiting teens younger than 18 years of age from shopping after 6 PM on Fridays and Saturdays unless they were accompanied by a parent or legal guardian. It was anticipated that by imposing the curfew, the mall would become more family friendly.
Throughout the late 2000s, all four anchor stores, among with other small stores, eventually vacated the mall, as a result of the 2008 economic downturn and increased gang activity. A few years later, on October 10, 2011, YouTube user miah022 uploaded a video taking a tour of the soon-to-become dead mall, passing the vacant anchor stores Dillard's, JCPenney, Macy's and Steve & Barry's, as well as some stores and restaurants that are still opened at the time the video was uploaded. This included Eyemasters (a trade name of Visionworks), Finish Line, Inc., Journeys, Champs Sports, Victoria's Secret, Frederick's of Hollywood, Zales Jewelers, Regis, The Laughing Fish, Eastern Treasures, L'Patricia, Hat World, Claire's, Touchtell Wireless, 5-7-9, GameStop, Chinex, Hot Spot Pizza (formerly a Sbarro Pizza location), Sam's Optical, an unknown Samsung/T-Mobile US booth, Bath & Body Works and rue21. A lot of stores are relocated to Oklahoma City's other shopping malls, and this had become a serious problem, because this was probably a failed attempt to bring back everything the mall had from the start. A lot of the aforementioned stores and restaurants were closed prior to the mall's 2017 closing.
The property was foreclosed upon in April 2009 and it fell under the ownership of the Federal Reserve Bank of New York due to the Bear Stearns bailout. The mall was part of a portfolio of Bear Stearns assets, including $5.5 billion in commercial loans, that the Fed used to secure $29 billion to lend to JPMorgan Chase to buy Bear Stearns. According to Price Edwards & Co.’s 2010 Oklahoma City Mid-Year Retail Market Summary report, Crossroads Mall was 75 percent vacant. On September 14, 2011, the mall was purchased by Raptor Properties, LLC for $3.5 million, far below the $24 million asking price. Although the sale only included 762,532 square feet (70,841.5 m2), as several other parts of the property were previously sold to other investors.
Re-branding & future renovations
In April 2013, Raptor Properties announced plans to re-brand Crossroads Mall in a similar fashion to the revitalized La Gran Plaza in Fort Worth, Texas by attracting businesses that serve the local Hispanic community. On April 24, 2013, Raptor announced that the new name of the mall would be Plaza Mayor at the Crossroads. They also announced future renovations that would have included space for a grocery store, a nightclub and a rodeo arena seating 3,500 spectators. The mall's entrances and bathrooms would have also been remodeled and the carousel moved to make way for a new stage and entertainment area, complete with $100,000 worth of new sound and lighting equipment. Before the mall closed, these plans were never fully realized. As of June 2017, Plaza Mayor's website is occupied only by a banner telling visitors the site has been suspended, and directing the "customer" to check their email, possibly indicating another abandonment of work in the area. On September 29, 2017, CRM Properties announced that they had abandoned plans to rehabilitate the mall, and would close it permanently on 31 October 2017 as an order to build a couple of schools there.
