October 6, 2022

Dragon Blog-Z

Give the Dog a Travel

Can New Hartford’s Sangertown Square prevail over its monetary issues?

5 min read

Sangertown Square in New Hartford is hurting financially, and city officers carried out options to help the retail institution. 

Town Supervisor Paul Miscione claimed the shopping mall had expert monetary problems prior to COVID-19, but the pandemic exasperated the condition.  

Sangertown has seen its assessed value decline, Miscione mentioned. Bonds by Sangertown also were recently downgraded by credit score score company Fitch

Last week, town officers offered Sangertown with a year stipulation that would see it at a lessen assessed price to save dollars on taxes. The city would revisit the stipulation after one year, Miscione explained. 

Sangertown Square Mall in New Hartford is hurting financially.

“We’ve received to do the job with them, not versus them,” Miscione stated. 

Sangertown is the town’s greatest taxpayer and major income tax contributor, Miscione claimed. 

Mall officers did not return multiple messages searching for remark. 

Sangertown history 

Utica resident Vanessa Stacks sits near the fountain in front of Macy's with her daughters Alyssa and Aubrey in August at Sangertown Square. The store is set to close in April.

Sangertown opened in July 1980 with Hess’s, Sears and JC Penney as anchor tenants, which are normally a larger keep in the mall, typically a section shop or retail chain. Other shops provided Klein’s All-Sport, Karaz Shoe Store, Barbara Moss, Shed House, RadioShack, Basic Diet Middle, Waldenbooks, Brooks Style Retailer, Endicott Johnson, Liberty Vacation, Lennon’s Jewelers and McHarris Gift Center, according to Observer-Dispatch archives.