JACKSONVILLE, Fla. – The Regency Square Mall, once a bustling staple for the Arlington community, is entering a new chapter — starting with a new name.
The troubled mall, which faced nearly $1.8 million in fines for multiple code violations for its deteriorating conditions, was officially sold to Blackwater Development LLC on Wednesday, according to our news partners at the Jacksonville Daily Record.
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Under the new ownership, the Regency Square Mall would change its name to The Nexus at Regency, The Record reported.
“The word nexus signifies a meaningful connection or link, and that spirit of connection is at the core of this project,” Blackwater Development founder Rurmell McGee said in an announcement.
McGee further emphasized the importance of maintaining the Arlington community’s connection and “personal ties” to the faltering property.
The Record reported that the redevelopment plan included multifamily residential communities, financial institutions and nationally recognized retail brands.
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Blackwater called the change the “beginning of a transformative mixed-use redevelopment effort aimed at breathing new life not only to the Regency property, but also into the entire Arlington community.”
The price tag for the purchase remained undisclosed. The new owners also said they would work with the remaining tenants to discuss other options.
The Record reported that Regency Realty LLC, a partnership of Mason Asset Management and Namdar Realty Group LLC, owns almost 74 acres and about 980,200 square feet of retail space in the mall.
Blackwater announced in October 2023 that it was in talks to buy part of the mall.
The purchase does not include the Dillard’s Clearance Center in the west wing; the closed Sears at the end of that wing; or the central area that Impact Church now occupies that was once the Belk department store.
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