FORT SMITH, Ark. — Lance Beaty, through his company FSM Holdings, will invest about $2 million in the demolition of 100,000 square feet of the former Phoenix Village Mall and construction of walking trails, green space and other amenities for those who work in the remaining buildings.
Beaty, along with partner Dr. Steve Nelson of Fort Smith, purchased the 35-acre and almost abandoned Phoenix Village Mall at 4600 Towson Ave., in January 2009. FSM Holdings has invested more than $16 million in renovation, and the location is home to around 1,300 jobs through the Shared Services Center owned by Franklin, Penn.-based Community Health Systems, and a call center operated by Tampa, Fla.-based Sykes.
The demolition will remove some of the more iconic parts of the old mall, including the theater area, interior rock features and the space that once housed Furr’s Cafeteria. The demolition and amenity work is expected to be finished by Dec. 1. Demolition is expected to begin Aug. 17.
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