NH1 News Debates


May 7, 2015 3:51 PM

NH1 News Investigates Ghost Mall: Concord community paying more taxes as Steeplegate Mall empties


CONCORD - “Well I don’t love it, I typically don’t shop at malls,” said Kate Bashford of Concord.
About 15 percent of U.S. malls will fail or be converted into non-retail space within the next 10 years, and it sounds like the Steeplegate Mall in Concord could be next.
“It’s sketchy and buildings closed and (there are) like no stores,” said Sean Perry, as he attempted to take his daughter prom dress shopping.
Even if you prefer shopping online or at local businesses - if you live in Concord - you're paying for the mall's decline.
Concord’s Deputy City Manager, Carlos Baia, told NH1 News that in the past, the mall has been one of the city's biggest tax payers, valued at $83 million, but now the mall is valued at only $30 million.
“Its a dramatic drop in the tax value," Baia said. "But now you've reduced one of the largest tax payers to that so the burden does shift around to other people in the community."
So how long should taxpayers be responsible for keeping the shopping center afloat?
Concord doesn't want to see it go and is holding out for a new owner.
“In theory it could probably be sold for less than it has in terms of debt today,” Baia said.


--  Dealing with the Disease of Addiction? Click here for help --

More from NH1.com

NH1 News Debates
NH1 News Replay

NH1 on Twitter

NH1 SkyView Cameras

NH1 on Facebook

Check out NH1 News Rail Polls on LockerDome on LockerDome