The Factory Merchants Branson shopping center is now property of the City of Branson, with the closing occurring today.
As part of the agreement with the City, the current shopping center management will continue to operate the center for another six months. It is expected that all retail operations will have ceased by the end of this six month period. The Factory Merchants management and the City of Branson are working with individual stores to relocate to other sites in Branson.
The City of Branson Board of Aldermen voted December 29th, 2011 to approve the agreement which would transfer the property to the City from CPG Partners, L.P.
Although the City of Branson already owned the land on which the shopping center is located, this closing officially transferred the improvements, as well as an additional 9 acres of land, to the City, as well as $300,000 for future maintenance.
The City of Branson has not announced official plans for the redevelopment of the site. The City will continue to seek community input and professional assistance before moving forward.