Staff file photo by Sam Yu This is an aerial photo of the Frederick Towne Mall taken in August 2008. A new company is looking at the redevelopment of Frederick’s first mall. Purchase this photo

A new company with a record of successful redevelopment is looking at the mall with fresh eyes, mall manager Tom Bradley said.

DLC Management Corp. is a Tarrytown, N.Y.-based commercial real estate owner, developer, leasing and management firm specializing in shopping centers nationwide. The company's website boasts relationships with retailers including Target, Staples, Ross, TJ Maxx, Macy's, Borders and Wal-Mart.

The world has changed since the mall received approval for its mixed-use redevelopment plans in 2006, Bradley said.

The mall experienced some difficulties on the leasing front immediately after the city approved its plans, Bradley said. These troubles and a depressed economy stymied the plans.

"I'm excited that DLC Management will be able to breathe new life into redevelopment plans," Bradley said.

Adam Ifshin is president of DLC Management.

"We were recently retained and are working to formulate an appropriate redevelopment plan for the asset, the community and the current economic environment," Ifshin said.

"We cannot at this time say exactly what our plan will be as we are evaluating and formulating that now and it is not yet complete. At an appropriate time in the future, when we and ownership are ready, we will disclose these."

That's good news for many who hope the mall they have frequented for many years would not go away.

"I've heard so many different stories what they will do to it, I don't know what to believe," Rocky Springs resident Tom Albaugh said.

Albaugh, 80, was taking his usual walk around the mall for exercise on Thursday.

"I just hope it would come back to life, but I'm afraid it's not," Albaugh said. "Payless Shoes closed last week."

Radio Shack manager Wes Collins wished that the mall brought more foot traffic into his store.

"If it can turn around, that means I can stay manager awhile longer," Collins said. "From what they tell me, it will turn into some condos or they will bulldoze the whole thing."

Business at Radio Shack is OK, Collins said.

"Seventy-five percent of business is Hispanics getting phones," he said.

Madele Tolbert, a teacher at Waverley Elementary School, said she often comes to the mall.

"I just hope that more stores were in here," Tolbert said, ending a trip to BonTon. "I heard they would put in a plaza and some residential homes. That would be nice."

The mall is an asset to many people who have no cars to travel elsewhere, Tolbert said.

"We don't know what will happen to the mall," said Patricia Roajas, an employee at Lallo's Pizza. "I wish more stores would come in to bring more people, like it was a few years ago. Customers say they are sad to see it like this, too."

Frederick resident Ben Munez said he has been coming to Frederick Towne Mall since he was 3.

"I sincerely hope they can keep it going," he said. "It's a part of Frederick to me."

Redevelopment of the mall is paramount to the health of the Golden Mile and Frederick 's west end, said Richard Griffin, the city's economic development director.

The redevelopment has been delayed because of market economics and access to credit financing, Griffin said.

West Patrick Street, also known as the Golden Mile, is a primary retail corridor anchored at the west end by Frederick Towne Mall. Major anchors include Boscov's, Bon-Ton, Wolf Furniture and Home Depot.

Retail on the Golden Mile is primarily shopping centers anchored by supermarkets, eating establishments and bank branches, according to Lily Caplan, an intern in the city's economic development department.

As of June 30, 61 restaurants, varying from fast food to upscale, could be found on the stretch. There are 23 health care services or providers, 21 beauty stores and services, 19 automotive service and sales centers, 18 apparel stores and nine larger stores that sell a variety of goods, Caplan said.

The Golden Mile has more than 2.6 million square feet of commercial space. Overall, commercial vacancy by square footage is well under 10 percent, excluding the vacancies at the mall. In terms of numbers, there are a total of 393 commercial stores on the Golden Mile, of which 81 are vacant, including 38 at the mall, Caplan said.

Griffin said city staff continue to engage and support property owners along the Golden Mile to reinvest in their properties.

"A terrific example is Vista Shops, which has recently completed a facade and signage update and is now anchored by Aldi Foods and Planet Fitness," he said. "We continue to believe that the Frederick Towne Mall under the leadership of the owners and mall management will reinvent that site and put it back into full productive use."

The city is ready to assist through the planning, permitting and development process, Griffin said.

The city and county have reciprocal property tax credits on the Golden Mile and on vacant commercial buildings to encourage redevelopment and reinvestment, Griffin said.