CHARLESTON, W.Va. -- The development company that recently scrapped plans to build a sprawling shopping center along MacCorkle Avenue in South Charleston couldn't find enough retailers to commit to the project amid the economic downturn, Mayor Frank Mullens said Wednesday. 

St. Louis-based THF Realty, the same company responsible for the Shops at Trace Fork shopping plaza off Corridor G, also wanted to focus on filling its own vacant storefronts, including the former Circuit City and Goody's Family Clothing, which closed earlier this year, Mullens said.

THF Realty allowed its option to purchase property -- a fly ash pond owned by FMC Corp. -- to expire July 1.

"They just couldn't get the tenant commitments they were counting on," said Mullens, who met with THF officials earlier this month. "Most retail stores aren't looking to expand right now."

THF Realty spokesman Andy Boyd said retailers across the U.S. are more interested in filling vacant stores at shopping centers now than committing to leases at proposed projects.

"The main reason we didn't exercise our option on the property was the retail environment right now," Boyd said. "There's a good deal of excess space retailers are looking at. They're not looking at new projects at this time."

Two years ago, THF Realty announced ambitious plans to buy the pond property near the South Charleston exit of Interstate 64. THF planned to fill the pond, then build several clusters of shopping buildings, encompassing 227,000 square feet of space on 44.75 acres. The project included restaurants and "upscale" retail stores -- though the company never named potential tenants.

The shopping center was to be called Boulevard of South Charleston.

THF estimated it would cost $15 million alone to prepare the site, which involved draining the pond and filling it with dirt.

"It was an expensive project for them, but they had a good game plan," Mullens said. "The economy taking a fall is what caused this to fail."

The city of South Charleston took several steps to help redevelop the FMC fly ash pond.

The city rezoned the land from industrial to commercial use, and applied to the state Development Office to have the site declared an "economic opportunity development district" so it would qualify for tax credits. That would have allowed THC Realty to funnel up to 25 percent of the project's tax bill back into the project to pay remediation costs.

CHARLESTON, W.Va. -- The development company that recently scrapped plans to build a sprawling shopping center along MacCorkle Avenue in South Charleston couldn't find enough retailers to commit to the project amid the economic downturn, Mayor Frank Mullens said Wednesday. 

St. Louis-based THF Realty, the same company responsible for the Shops at Trace Fork shopping plaza off Corridor G, also wanted to focus on filling its own vacant storefronts, including the former Circuit City and Goody's Family Clothing, which closed earlier this year, Mullens said.

THF Realty allowed its option to purchase property -- a fly ash pond owned by FMC Corp. -- to expire July 1.

"They just couldn't get the tenant commitments they were counting on," said Mullens, who met with THF officials earlier this month. "Most retail stores aren't looking to expand right now."

THF Realty spokesman Andy Boyd said retailers across the U.S. are more interested in filling vacant stores at shopping centers now than committing to leases at proposed projects.

"The main reason we didn't exercise our option on the property was the retail environment right now," Boyd said. "There's a good deal of excess space retailers are looking at. They're not looking at new projects at this time."

Two years ago, THF Realty announced ambitious plans to buy the pond property near the South Charleston exit of Interstate 64. THF planned to fill the pond, then build several clusters of shopping buildings, encompassing 227,000 square feet of space on 44.75 acres. The project included restaurants and "upscale" retail stores -- though the company never named potential tenants.

The shopping center was to be called Boulevard of South Charleston.

THF estimated it would cost $15 million alone to prepare the site, which involved draining the pond and filling it with dirt.

"It was an expensive project for them, but they had a good game plan," Mullens said. "The economy taking a fall is what caused this to fail."

The city of South Charleston took several steps to help redevelop the FMC fly ash pond.

The city rezoned the land from industrial to commercial use, and applied to the state Development Office to have the site declared an "economic opportunity development district" so it would qualify for tax credits. That would have allowed THC Realty to funnel up to 25 percent of the project's tax bill back into the project to pay remediation costs.

Mullens acknowledged he was disappointed that THF Realty didn't purchase the fly ash pond property, but he remains "openly optimistic" that the developer might one day build the shopping plaza.

"Our understanding is this project is on the shelf, not completely canceled," Mullens said. "We just need to look in another direction."

Boyd confirmed that the company hasn't totally given up on the shopping center and fly ash pond property.

"We're still looking for opportunities to take to FMC on that property," he said. "If we find retailers out there for the site, we would approach FMC to look at the property again."

Mullens praised THF Realty as a "great business" for South Charleston, and said the company hopes to find tenants for the vacant Goody's and Circuit City stores at Dudley Farms plaza soon.

"They've got to fill those empty slots first," Mullens said. "That's their major focus right now."

Boyd said the company was "actively working" to find tenants for the vacant stores.

FMC Corp., an insecticide manufacturer, is shopping several other South Charleston properties.

"There are several pieces of property that need to be back and productive and developed," Mullens said.

FMC spokeswoman Linda Lower could not be reached for comment Wednesday.

@tag:Reach Eric Eyre at erice...@wvgazette.com or 304-348-4869.