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10/18/14

Crossroads Mall is now a Hispanic cultural and commercial center.

New Direction for Crossroads Mall
Something big is happening at Crossroads Mall in Oklahoma City, and it may not be what you think.  When new owners, Raptor Properties bought the mall in late 2011, the most likely scenario was complete demolition.  Luckily for Oklahoma, this original plan has taken a complete 180, and Raptor has partnered with The Legaspi Company to convert Crossroads Mall into Plaza Mayor at the Crossroads.
The change in paradigm will not attempt to resuscitate this mall into its original form, but rather re-imagine a new vision to take advantage of changing demographics.  The partnership has unveiled its new plans to convert Crossroads Mall into the nation's newest Hispanic cultural and commercial center.  This has been a successful model, now seen all over the United States in such markets as Atlanta, Phoenix, Los Angeles and Fort Worth with similar properties.
The driving force behind many of these successful implementations has been California-based realty firm, The Legaspi Company.  Raptor Properties has brought that experience and success to Oklahoma by partnering with this firm to oversee the implementation here in Oklahoma City.
Instead of relying on big department stores as the driving force behind traffic, the establishment of a cultural center with weekly programming now becomes one of the first building blocks in bringing families back to the property.  This is good news to many cultural and arts organizations constantly struggling to find ways to deliver these types of programs to an under-served population.  It is also good news to the Hispanic community seeking opportunities to teach their children more about their cultural heritage.  Pilot events since last August have already resulted in a positive response.  Each event has produced an average of 2-3 thousand patrons.
Sunday, March 31st, was no exception as the building will be hosted a 10,000-egg Easter Hunt for Hispanic families.  The event sponsored by Homeland and Tyler Media was host to over 5000 people.  That date also marked the official start of weekly cultural programming, featuring the state's largest mariachi, Mariachi Orgullo de America.
On March 27th, Raptor announced the acquisition of the building that previously held Dillard's to house a key element of this new model, the Mercardo.  The Mercardo will be a 200+ vendor marketplace designed to serve as a business incubator, offering accessible retail space to a wide variety of products and services.
Other elements that will make the center a new home for Hispanic families will include many commodities focused on the comfort and entertainment of the oldest to the youngest members of these families.  Such commodities include increased restroom capacity, increased soft seating including lounges, more restaurants, more play areas and kid's activities, community services, a health services, financial services, and other non-traditional offerings that would seem out of place in mainstream malls.
Plans unveiled yesterday included architectural rendering of new entrances, a performing arts center, the retail business incubator, and other proposed uses.  The hope is that Plaza Mayor will join the list of successful implementations throughout the country, and it is well on its way with 15 new contracts signed since the end of March, and increasing interest from additional national tenants.

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