BOARDMAN TWP., Ohio - The possibility of declaring bankruptcy has not stopped the owners of the Southern Park Mall from pledging to continue multi-million dollar redevelopment plans.

Just three days after announcing that there is substantial doubt about continuing as a going concern, Washington Prime Group issued a statement saying the company remains committed to a redevelopment project, which will feature the DeBartolo Commons athletic and entertainment green space and event venue.

The company says it anticipates a grand opening of the four-acre commons in October.

Washington Prime says the Bunker, along with attached restaurant Bogey’s, and Steel Valley Brew Works are expected to open in the weeks prior to the DeBartolo Commons’ grand opening;

Mall executives say they are in discussions to find food and beverage businesses to fill the final space adjacent to the Commons.

Planet Fitness is expected to open its new location at the mall next month.

Macy’s and PNC bank recently completed renovation projects on mall property.

Plans are in the works to update public restrooms in the food court and near Chick-fil-A this summer.

In January of next year, Washington Prime says work is expected to begin on renovation of the mall’s interior, which is part of a $30 million investment planned over the next few years. The company says it has already invested $9 million of the $30 million.

The statement from Washington Prime says the investment will mean expanded real estate property, sales, and income tax bases.

DeBartolo Commons will be connected to Boardman Park by a hike and bike path, which Washington Prime says will eventually link to most residential neighborhoods south of 224 – both east and west of Market Street.

New stormwater retention facilities on mall property is designed to relieve the potential for flooding downstream in Boardman Township, south of the mall property.

On Tuesday, Washington Prime admitted in a financial report that bankruptcy is a possibility.

Reporting a net loss of $111 million in the final quarter of 2020, the company said it is in negotiations to restructure.

Washington Prime has signed an agreement with some lenders representing 67% of the debt to forestall default through at least the end of March.

If a longer-term agreement on debt is not reached, the company stated that the Company may seek the protection of the Bankruptcy Court.