MARSHALLTOWN, Iowa — It’s been a week of ups and downs at the Marshalltown Mall. Early in the week during the extreme cold water was cut off due to a leak.

On the other side of the coin, some good news. The Marshalltown Mall is being purchased by Reserve Development of the Dallas area. They plan to rework the mall to give businesses here buildings which face the street.

“This redevelopment opportunity that we’ve got now with Reserve Development is really looking at how do we transform the space to be more of a shopping center with bigger box external facing retail opportunities,” said John Hall, President & CEO of the Marshalltown Chamber of Commerce. “These are all places that people in Marshalltown in the surrounding communities are already driving to other communities for.”

The new company took an interest in Marshalltown even before they had possession of the property.

“We saw that even earlier this week when the water main going into the building broke because of the cold temperatures they immediately activated the resources to bring that service back in and we wouldn’t have seen that from the previous owner,” said Hall.

Already, Reserve is moving forward to make this project a reality.

“In my understanding there’s a handful of letters of intent signed at this point working through filling the remainder of what they’ve got from what I understand,” said Hall. “They’ve got interest from enough stores that I would fill up the spaces.”

“We have high hopes for what he has planned,” said Tanaia Babcock, of the Shoe Sensation.

No word on when any construction could begin.

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