Despite the setback of losing a key tenant, Hekemian & Co., which owns the Rotunda, will push on with redevelopment plans.
Al Barry, a development consultant who works with the real estate management and development company, said although there isn’t currently a date set, that Hekemian intend to hold a community meeting regarding the shopping center’s future.
Barry said that Hekemian was aware that Giant had been negotiating to move the store for about two years, but was unaware that a deal had been reached for the store to move until it was announced on Friday.
Chris Bell, the senior vice president of Hekemian, did not return multiple calls for comment on this story.
The news was the latest set back for the Rotunda, which saw plans to drastically overhaul it to become and outdoor shopping center with a residential component come to a halt because of the financial collapse.
“In many ways [Giant leaving] frees Hekemian up to go with their original development plans without a super market in the parking lot,” Barry said.