UPDATE: The Shops at Atlas Park will be up for auction on January 28, pursuant to a judgment of foreclosure and sale.
With the New Year in full swing, several business owners at The Shops at Atlas Park raise hopes of improving their venues, despite the tumultuous economic conditions that darken their stores.
Atlas Park, an open-air shopping and entertainment center located on Cooper Avenue in Glendale, is home to over 20 businesses that many say have endured turbulent fiscal quandaries in recent years.
Along with filing for Chapter 11 bankruptcy protection in January of 2009, the shopping center marked its second holiday season in the grip of foreclosure.
Vincent Arcuri Jr., chair of Community Board 5, feels that the current economic situation of Atlas Park is dire.
“I think it’s horrible,” Arcuri said. “I think the bank and the receiver are doing an extremely poor job. They’re doing nothing for the businesses or people there. They are running down the value of the property.”
Local residents attribute the decline in Atlas Park’s economic prosperity to shopping venues that carry high-end prices in a neighborhood that is comprised of predominantly working class residents.
However, Arcuri feels that the stores offer decent prices and that poor management is to blame for the mall’s economic downfall.
“I shop there and my grandchildren shop there. The prices are like any other places in the area, they are regular,” he said. “You’ve got places like Laila Rowe and the White House Black Market store that are not overpriced by any means.”
In an effort to increase business, several restaurants within the complex offer package deals with the local ice skating rink that allow children to host birthday parties at the arena while purchasing food provided by the catering venue.
Owners of shops at the mall have also joined the Glendale Kiwanis, a local association dedicated to the promotion and enculturation of stores throughout the area.
Community board members and Atlas Park business owners are also emphasizing the importance of community involvement to revive the economic vitality of the mall complex, as many say that residents have swayed local legislation to promote the business of Atlas Park.
“The community has bent over backwards to support and assist Atlas Park in its endeavors,” Arcuri said. “They [the owners of Atlas Park Mall] should involve the community in discussions and proceed that way, not spring another surprise on the community.”
