![]() ![]() ![]() He added it’s not an uncommon for a buyer to pull out of an agreement like this in order to have some issues resolved. Jackson declined to say at this point what the issues are but said everyone is still working together and that the issues are obstacles that can be worked out. “I’m still working to settle the property but we need to get these issues resolved,” he said. Jackson said he is still in communication with the mall’s owner and hopes to resolve some open issues to get the deal settled by the fall and start the redevelopment process. The agreement was still in the due diligence phase and hadn’t been completed. On Thursday, Jackson confirmed to PennLive that Stonewall Capital had pulled out of the deal. Jackson previously said that a redevelopment of the mall could include retail, restaurants, apartments, for-sale condo units, a medical office building and a hotel, and that any kind of construction was probably at least a year away. In May, Ray Jackson, the principal of Stonewall Capital in Timonium, Maryland, confirmed at the time that his company had an agreement to buy the mall. So where does everything stand? Here’s what we know: Colonial Park Mall on Jonestown Road in Lower Paxton Township.February 3, 2023. READ MORE: Colonial Park Mall avoids sheriff’s sale, but potential buyer cancels deal. ![]()
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