at the center court, which was completed by 1997. Decline Several contributing factors beginning in the late 1990s would result in the eventual decline of the mall. The biggest of these factors was the development of the Waterfront, which opened in nearby Homestead in 1999. The development had significantly expanded over the years, pulling shoppers away from Century III. South Hills Village, a smaller mall located only five miles to the west in Bethel Park, also underwent a major renovation, incorporating a large food court among its amenities. Adding to the mall's woes, it lost its first anchor tenant in 1999 when Federated Department Stores closed the Lazarus store due to underperforming sales. Other major retailers, such as TJ Maxx 'n More and Wickes Furniture, also closed in 2003 and 2004, respectively. The former Wickes Furniture location was replaced by Dick's Sporting Goods, and TJ Maxx 'n More was filled with Steve and Barry's. As early as 2003, Century III Mall was about 20% vacant. By the late 2000s, several key retailers with locations at Century III Mall filed for bankruptcy, resulting in additional vacancies. On July 18, 2005, Federated Department Stores purchased the May Department Stores Company. That purchase brought the Kaufmann's nameplate under Federated ownership. On September 9, 2006, Federated converted all former May Company regional department store nameplates, including Kaufmann's, into Macy's as part of a nationwide re-branding program, resulting in the Kaufmann's Furniture Gallery location to be returned once again to Federated Department Stores ownership and subsequently renamed as Macy's Furniture Gallery. Macy's Furniture only occupied the lower level. The mall went up for sale in 2006 as Simon refocused on its top-performing properties, including South Hills Village and Ross Park Mall in Pittsburgh's northern suburbs. As the mall continued to languish, it affected the mall's assessment value, which stood at $66 million in April 2009, a 40 percent decrease from the previous $112 million in recent years. Prior to that, the mall was valued at $128 million. In June 2009, it decreased further to $58 million. The struggling mall was noted as being one of America's most endangered malls in a published report by U.S. News & World Report. In April 2009, Macy's Furniture closed its Century III Mall location as a cost-cutting measure. Just prior to the closing, the fountain near the food court was drained and filled with mulch. In 2010, La Hacienda