The sale of Worthington Square became final on Monday, when Morris Capital Partners closed the deal to purchase the struggling mall from GE Credit Equities.

The sale of Worthington Square became final on Monday, when Morris Capital Partners closed the deal to purchase the struggling mall from GE Credit Equities.

The partnership closed on the project Dec. 20, and the total project redevelopment is expected to exceed $19-million, according to an announcement by Worthington spokeswoman Anne Brown.

Tom Carter, a Worthington resident, is a principal in the Texas-based company.

Carter, one of the developers of Easton, has plans to transform the mall into a vibrant shopping area with indoor and outdoor space, new restaurants, public spaces, and stores.

Eventually the site may include apartments or condominiums, though the first stage focuses on retail uses.

More immediate plans include removing part of the roof over the northern, east-west walkway; creating a park where the Gap store once stood; building out dumpster enclosures on the west side; and extending the roadway along the west side of the mall.

Entryways and storefronts will also be redesigned.

"We are extremely excited by this opportunity," said Morris Capital principal Bill Morris. " We will work with the city of Worthington and the community to bring Worthington Square to its full potential. Many of the major tenants, including Jos. A. Bank, Talbots, Chico's and others, have already shown their faith in our vision by renewing their leases, and the interest from prospective new tenants, especially restaurants, has been phenomenal. We see Worthington Square once again becoming a shining jewel for the region."

A grand opening is set for November 2011.

For details on the TIF, see the complete story in the Dec. 23 edition of ThisWeek Worthington.