That's what the mall's new owners, NewMark Merrill Mountain States, told an audience of more than 150 people Wednesday that attended the second public meeting the company has hosted since it bought the mall in February.
Managing director and principal Allen Ginsborg told the crowd that after receiving input from more than 2,000 community members and, even more important from the standpoint of making Twin Peaks a strong revenue generator again, more than 100 retailers, the mall as it is must cease to exist.
The mall was in foreclosure when NMMS bought it in February for $8.5 million, a fraction of the $33.6 million the previous owner had paid in 2007.
"For the most part the retailers that want to move into this market are not traditional, enclosed, regional mall tenants," Ginsborg said. "It's an open-air format. That's the direction they're driving this to.
"We see this project as a different type of experience. More of an outdoor, community oriented center."
Ginsborg unveiled an artist's rendering that showed a large fountain with kids playing, some outdoor seating, decorative features and storefronts that surrounded the plaza. The "Twin Peaks" sign stood atop an open-air archway.
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