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County Announces ShoppingTown Mall Redevelopment Partner

Onondaga County Executive Ryan McMahon is scheduled to unveil a new development partnership for the shuttered Syracuse mall on Thursday.

Updated on Nov. 12, 2026 in Commercial

Wide view of a vacant tan brick commercial building behind an empty cracked parking lot under a pale overcast sky, with one bare tree at the lot's edge.
Onondaga County Executive Ryan McMahon will unveil a new development partner Thursday for the shuttered ShoppingTown Mall in Syracuse, a 65-acre site. AI Illustration. Upload story photo >

Onondaga County Executive Ryan McMahon will announce a new partnership for the redevelopment of ShoppingTown Mall at an 11 a.m. news conference Thursday, November 12. The shuttered mall sits on 65 acres owned by the Onondaga County Industrial Development Agency.

Why it matters

The redevelopment would convert the closed Erie Boulevard East property into a mixed-use complex of commercial, office and residential buildings. Earlier efforts stalled, and the county only acquired the former Macy's Department Store in March 2026.

The county purchased most of the mall for $3.5 million, while the earlier District East plan carried a $400 million projected cost. The new partner's financing and development timeline remain unannounced.

The players

Ryan McMahon

Onondaga County Executive who leads the county government overseeing the mall redevelopment effort and its public-private partnership announcements.

Onondaga County Industrial Development Agency

Public economic development agency that owns the 65-acre ShoppingTown Mall property and oversees its redevelopment.

Moonbeam Capital Investments LLC

Private investment firm that owned and closed ShoppingTown Mall in March 2020 before the county purchased most of the property.

The details

Moonbeam Capital Investments LLC closed ShoppingTown in March 2020 during the Covid-19 pandemic. In 2021, McMahon announced a sale to a joint venture led by Ryan Benz and Andrew Breuer, but that effort never got off the ground, partly because the county had not yet acquired the former Macy's store.

Timeline

  1. March 2020: Moonbeam Capital closed ShoppingTown during the Covid-19 pandemic.

  2. 2021: McMahon announced an agreement to sell the mall to the Benz-Breuer joint venture.

  3. March 2026: The county acquired the former Macy's and issued a request for new development proposals.

  4. Thursday, November 12, 11 a.m.: McMahon's partnership announcement news conference at the mall.

Commercial Pivot

The announcement follows the stalled 2021 District East plan led by Ryan Benz and Andrew Breuer, which never advanced after its $400 million projection. The county's March 2026 acquisition of the former Macy's parcel now clears the path for a second attempt at the site.

Residents near Erie Boulevard East could see a mixed-use complex of commercial, office and residential space replace the shuttered mall. The timing and form of that change will depend on the partner and project plans announced later.

The takeaway

Redevelopment of large vacant retail properties often depends on assembling all parcels before a viable plan can proceed, as the stalled ShoppingTown effort illustrates. Watch for partner details and financing terms at the announcement.

What happens next

McMahon's partnership announcement news conference takes place Thursday, November 12, at 11 a.m. at the ShoppingTown Mall site.

Further reading

For more on commercial property deals in the area, explore Commercial coverage on Syracuse.