The new owners say they're not tearing it down. They're starting with the food court and betting that better stores will follow the crowds.
Chesterfield Towne Center is staying open. At an Oct. 15 community meeting, the mall's new owners laid out a first phase built around three projects: a rebuilt food court, a redone main shopping hall and a new outdoor park, with food court work targeted for January. The stores come second. On purpose.
Most people who've lived on this side of the river for a while have a CTC story. A back-to-school run at JCPenney. A rainy Saturday at Barnes & Noble. A first job in the food court. So when the mall sold last December, the rumor mill went to work fast, and by fall plenty of folks had heard it was coming down.
I've helped families buy and sell across Midlothian and north Chesterfield for more than 25 years, from Stonehenge and Bon Air out to Brandermill and Salisbury. The mall sits right in the middle of that map, at Midlothian Turnpike and Huguenot Road, and what happens there shapes how people feel about living nearby. (I covered the bigger policy picture in my post on Chesterfield's draft comprehensive plan.) Here's what's actually been said, what's still a target, and what was left off the list.
"We're Not Knocking It Down"
Chesterfield Towne Center sits at Midlothian Turnpike and Huguenot Road, close to the middle of the county.
JRE Partners, a New York investment firm, and the Swiss company Anastacia AG bought Chesterfield Towne Center for $80 million in December 2025. They hired Pacific Retail Capital Partners of Los Angeles to run and lease the property, and brought in Gehl, the Danish urban design firm, to plan what comes next.
The Oct. 15 meeting at James River High School, hosted by Board of Supervisors Chair Mark Miller (the mall sits in his Midlothian District), was the first real look at that plan. John Fraser of JRE didn't waste time on the rumors.
"I want to start with, we're not knocking it down."
John Fraser, JRE Partners, as reported by 12 On Your Side
There's plenty to work with. The mall covers more than a million square feet, with JCPenney, Macy's and Barnes & Noble among its tenants. Gehl director Geoff Dyck pointed out that Chesterfield County has never had a true downtown, yet the mall sits near the center of it, where most of the main roads meet. Gehl's idea is to treat the place less like a shopping center and more like the county's front porch: somewhere people gather on purpose.
Three Projects, One Corner of the Mall
The food court as it looks today. It's first in line for a rebuild.
Phase one is three connected projects, all on the Macy's side of the building.
The central square. The current food court gets rebuilt with greenery, new kinds of seating and more grown-up restaurants, the sort of place you'd pick for a date night or trivia. A large tree or a public art piece would anchor the middle.
The main street. The north-south shopping hall next to the square gets planters and tables, with storefronts opening out onto the walkway. Think sidewalk, not corridor.
The outdoor park. Greenery, playgrounds and a multipurpose field on part of the parking lot by the western entrance, near Macy's and the food court.
The food court goes first because the other two lead into it. JRE hopes to start there in January, with the hall and the park following shortly after. Fraser wouldn't share a cost but said the funding is lined up, and 12 On Your Side described it as a multi-million-dollar first phase. January is a target. Nothing is on a construction calendar yet.
The food court is getting a promotion. If it works, the stores get one next.
Why the Stores Come Second
The north-south hall, slated for planters, tables and storefronts that open onto the walkway.
About 100 residents turned out. One asked the question a lot of us have asked: will CTC chase the kind of stores that currently send Chesterfield shoppers up to Short Pump? L.L. Bean and Crate & Barrel came up by name.
Fraser said yes, and walked through how it usually happens. Higher-end retailers look at how much a center sells. Sales depend on how many people come and how long they stay. And once one leading brand signs, others tend to follow. His summary to Richmond BizSense: "The retailers are a little bit like lemmings."
I'd normally steer clear of comparing anyone to lemmings, but in retail leasing it's apparently a compliment.
That explains the order of phase one. A food court built for trivia night, tables outside the shops and a playground by Macy's all do the same job: get more people in the door and keep them there longer. Miller made a similar point to 12 On Your Side. People need a reason to make the trip, and a new look and feel gives them one.
Fraser also noted that JRE has reworked an existing mall in the Chicago area before. The firm's broader portfolio runs from ground-up projects like the Four Seasons Hotel in Nashville to mid-rise apartments in Washington, D.C.
Better stores follow foot traffic. The owners are building for the foot traffic first.
The Tenant Mix Is Already Shifting
R.S. Milan opened its second store at CTC in June and kept its original shop at Regency.
Before any renovation was announced, the store lineup had already started to change. The newer arrivals are mostly smaller and more specialized.
TJ Maxx and HomeGoods closed their mall location in late February and planned a March 5 reopening a couple of miles down Midlothian Turnpike at Pocono Crossing.
R.S. Milan Menswear & Custom Tailors opened a 3,000-square-foot second store at the mall in June and kept its original shop at Regency.
Blue Rose Video & More opened in early September. It's a family-run shop that rents and sells movies on disc, with collectibles and pop culture merchandise on the side.
Flavor Hive, a fast-casual spot known for walking tacos, filed a county permit for the former Five Guys space, which has its own outside entrance between The Twisted Crab and the empty TJ Maxx. A manager at its Glen Allen location said the Chesterfield store should open later this year. No date has been announced.
A custom tailor, a movie rental counter and a walking-taco shop are places people visit for a specific reason. That fits the owners' whole approach, which is built on giving people a reason to make the drive.
What Phase One Leaves Alone
The former Sears has been dark since 2020, but the lease is still active.
The old Sears. The anchor at the mall's northwest end has been empty since 2020, but Sears still holds a long-term lease and is still paying rent. Fraser said the company has every right to be there whether it's open or not, and that JRE hopes to resolve it at some point. Translation: one of the biggest spaces on the property will likely stay dark while the food court gets its makeover.
Housing. It isn't in the plan. Miller told 12 On Your Side the county wants to see how the revived mall performs before making that call. One attendee suggested building homes on the big parking lots around the mall, arguing that more residents nearby would help keep the place busy. The crowd jeered.
That idea has real backers, though. Plenty of readers in BizSense's comment section made the same case, and mall redevelopments elsewhere in the region have leaned on new apartments. If phase one works, I'd expect the housing question to come back. Dyck and Fraser left the door open to later phases, but for now they're focused on the three projects above.
What It Could Mean If You Live Nearby
Stonehenge is one of several Midlothian neighborhoods where CTC is part of the everyday drive.
It's too early to put a number on any of this, and I won't pretend otherwise. But I can tell you how buyers think.
When I walk someone through a home in Stonehenge, Bon Air or off Robious Road, the "where do we eat, shop and take the kids on a Saturday" question comes up early. A dated mall with an empty anchor is a soft spot in that answer. A food court people want to linger in, a park with a field and a playground, and a hall that feels like a real street would make it a stronger one. 🏡
A few honest caveats. Renovations on a building this age rarely hold to the first schedule. The Sears box isn't going anywhere soon. And the payoff the owners describe, better stores following bigger crowds, takes time and depends on the crowds actually showing up.
If you're thinking about selling in the next year or two, here's my advice: describe this to buyers as "planned and funded, with work targeted for January." Don't oversell it as a done deal. Buyers in this price range respect precision, and that's exactly what earns their trust. If you're weighing neighborhoods on this side of the river, my Midlothian neighborhood guide is a good place to start.
The Food Court's Last Holiday Season As We Know It
The Macy's side of the mall, where the planned park would go.
If work starts on schedule, this will be the last holiday season with the food court in its current form. A few dates already on the mall's calendar:
- Nov. 6: Blood drive
- Nov. 14: Nerdvana Expo, with 100-plus vendor tables of gaming, anime, trading cards and collectibles. Free admission and parking.
- Nov. 21 and 22: Hometown Vendor Market, a holiday craft market with local makers
- Dec. 19 and 20: Winter Wonderland Vendor Market, with handmade goods, seasonal décor and treats
Check the mall's website for hours before you go. The Santa photo schedule hasn't been posted yet. Once the Winter Wonderland market wraps on Dec. 20, the next item on the timeline is that January target. 🎄
Common Questions About the Chesterfield Towne Center Renovation
Is Chesterfield Towne Center closing?
No. At an Oct. 15, 2026 community meeting, owner JRE Partners said it plans to renovate and improve the existing mall rather than tear it down.
When will the renovation start?
The owners are targeting January 2027 for the food court, with the main hall and outdoor park to follow shortly after. No firm construction schedule has been published.
What's included in the first phase?
A rebuilt food court designed as a central square, a redone north-south shopping hall with tables and open storefronts, and an outdoor park with playgrounds and a multipurpose field near the western entrance by Macy's.
Will housing be built at Chesterfield Towne Center?
Not under the current plan. Supervisor Mark Miller said the county wants to see how the renovated mall performs before considering it.
What's happening with the old Sears?
Sears still holds a long-term lease and is paying rent, so the space is expected to stay as it is for now. The owners have said they hope to resolve it eventually.
Will the renovation affect home values nearby?
It's too early to measure. Nearby shopping, dining and parks do factor into how buyers judge a neighborhood, so I'll be watching sales along the corridor as the work moves forward.
Sources: Richmond BizSense (Oct. 16, 2026 meeting coverage, Dec. 15, 2025 sale coverage, Feb. 27, 2026 TJ Maxx and HomeGoods coverage, June 30, 2026 R.S. Milan coverage, Sept. 17, 2026 Blue Rose Video coverage, and Flavor Hive permit coverage), 12 On Your Side/WWBT (Oct. 15, 2026), and the Chesterfield Towne Center event calendar. Renovation timing reflects targets the owners stated at the Oct. 15 meeting. No construction schedule or cost has been published.
