Fairlane Town Center faces sale; Dearborn mayor to discuss future

Candice Williams
The Detroit News

Fairlane Town Center in Dearborn faces a sale next month after its current owner defaulted on loans. The buyer has not been named. 

As the mall at 18900 Michigan Ave. is set to have new owners, Mayor Abdullah Hammoud plans Saturday to outline an economic vision for the site, the city’s geographical midtown.  

Gold-accented wreaths, Christmas trees covered in white lights and holiday songs greeted shoppers at Fairlane Town Center in this undated file photo.

Hammoud will be joined at an 11 a.m. news conference by executive staff to outline how a revamped site could connect to other parts of the city and “enhance environmental sustainability, equity, and active mobility infrastructure.”

Fairlane Town Center has been in financial trouble for years, entering receivership in 2020 after its $161 million portfolio loan, including two other mall properties, was transferred to special servicing in March 2019.

The mall's owner, Starwood Capital Group, declined to comment on the upcoming sale Friday.

This fall, the mall was placed under new management, with Syracuse, N.Y.-based Spinoso Real Estate Group LLC marketing the troubled mall for leasing.

As of Friday, the firm continued to promote the 1.4 million-square-foot Fairlane Town Center as the only enclosed mall for 11 miles in a densely populated market.

cwilliams@detroitnews.com

Twitter: @CWilliams_DN