HANOVER — In the woodsy back corner of the 77-acre Hanover Mall, the new owners of the long-struggling shopping center see an opportunity to change its fortunes.
It’s not the movie theater that sits there now, or another big box store. No, it’s housing — four buildings with nearly 300 apartments that PREP Property Group, an Ohio-based company that bought the mall in 2016, wants to build.
If it wins town approval, PREP would sell the land to a housing developer and use the proceeds to blow up the half-century-old indoor mall and turn it into an outdoor-oriented “lifestyle center,” like many of its newer competitors, with hundreds of customers in those apartments, just steps away.
“When I heard about their plans, it was like a revelation,” said Ed Callahan, who has managed the Hanover Mall through years of foreclosure, bank ownership, and slumping sales. “We really lucked out with a new owner that saw this place as an opportunity.”
HANOVER – Representatives from the South Shore Chamber of Commerce brought their vision of the region’s economic future to Hanover Wednesday night.
Town officials and the Massachusetts Housing Partnership arranged the presentation so the chamber’s efforts to spur economic development could be discussed. The event was held at the John Curtis Free Library
“Our entire 2030 South Shore economic plan looks at attracting more businesses and a broader mix of businesses than we’ve had in the past,” South Shore Chamber President and CEO Peter Forman said. “What we are looking at is: What does it take to attract those businesses?”