Eastland Mall were sold by LNR, the loan servicer, to Boxer Properties for $2.2 million. The outstanding principal balance on the loan was $42.2 million. The fate of the anchor stores, however, were left hanging in the balance. Boxer was expected to bring in retail and small-office tenants that fit with the diverse nature of Charlotte's east side, similar to the company's redevelopment of La Gran Plaza in Fort Worth, Texas. The mall was planned to reopen by Christmas 2011; however, nothing ever came out of it. City ownership On August 31, 2012, the city of Charlotte purchased the entire mall, as well as some of the outlying properties, for $13.2 million. Potential redevelopment options included hotels and specialty shops. A studio known as Central Avenue Studios, expressed interest in purchasing the entire property for film uses, and as use as a film school, in conjunction with local education institutes like Central Piedmont Community College, Queens University of Charlotte, and the Charlotte-Mecklenburg Schools. Demolition and redevelopment On May 28, 2013, the city council voted to spend $800,000 to demolish Eastland Mall. Demolition began on October 1, 2013, with the Burlington Coat Factory Store the first to be torn down. In 2016, the city sold 11.4 acres of the site to Charlotte-Mecklenburg Schools for $650,000, to construct a school. The sale left 69 acres of the site under control of the city. The city government plans to use its land as a catalyst for neighborhood redevelopment, envisioning a mixed-use district with housing and offices. The site is also planned to host the headquarters and training facilities of future Major League Soccer expansion team Charlotte FC, which would occupy . References External links Charlotte East community website Grand opening announcement Dead Malls dot Com article about the mall Shopping malls disestablished in 2010 Shopping malls established in 1975 Demolished shopping malls in the United States Demolished buildings and structures in North Carolina Buildings and structures demolished in 2013 Shopping malls in North Carolina