- The Pyramid Companies
Infobox Company
company_name = The Pyramid Company
company_type = Private
foundation =1970
location =Syracuse, New York
key_people = Robert J. Congel, founder and managing partner
industry =Real estate
products = Shopping malls, mixed-use
revenue = >US$ 5 billion annually (fiscal 2005)
homepage = http://www.pyramidmg.comThe Pyramid Companies were formed in
1970 inSyracuse, New York by Robert J. Congel. Its first three malls, or the company's "pioneer malls", were Pyramid Mall at Saratoga,Pyramid Mall at Ithaca , and Pyramid Mall at Plattsburgh. All three malls opened in1975 and marked the beginning of a 40-plus year advance inshopping center construction and ownership. Currently, it is the largest privately owned developer of shopping malls in the country. The company has since grown to own 20 properties throughoutNew York andMassachusetts .List of properties
Current malls
*
Aviation Mall -Glens Falls, New York - Opened 1976
*Berkshire Mall -Pittsfield, Massachusetts - Opened 1988
*Carousel Center -Syracuse, New York - Opened 1990
*Champlain Centre North -Plattsburgh, New York - Opened 1987
*Crossgates Mall -Albany, New York - Opened 1984
*Galleria at Crystal Run - Middletown, New York - Opened 1992
*Hampshire Mall -Hadley, Massachusetts - Opened 1976
*Holyoke Mall -Holyoke, Massachusetts - Opened 1979
*Hudson Valley Mall -Kingston, New York - Opened 1981
*Independence Mall -Kingston, Massachusetts - Opened 1989
*Medley Centre -Irondequoit, New York - Opened 1990, purchased 2007
*Palisades Center -West Nyack, New York - Opened 1998
*Poughkeepsie Galleria -Poughkeepsie, New York - Opened 1987
*Riverside Center -Utica, New York - Opened 1974 - Converted to a power center AKA Strip Mall in 1998.
*Salmon Run Mall -Watertown, New York - Opened 1988*
Sangertown Square -New Hartford, New York - Opened 1980
*Walden Galleria -Cheektowaga, New York (Suburb ofBuffalo, NY ) - Opened 1989Past malls
The following is a list of malls that were either closed by Pyramid, or sold to another company.
*Pyramid Mall Plattsburgh -
Plattsburgh, New York - Opened 1975 - Later named Champlain Centre South. Closed 1999. Demolished 1999 and revamped into a power center.
*Pyramid Mall Saratoga -Saratoga Springs, New York - Opened 1975 - Later namedSaratoga Mall after being sold. Closed in 1997. Demolished in 1999. Now power center called Wilton Square.
*Emerald Square -North Attleborough, Massachusetts - opened 1989 with partner New England Development, sold interest 1998 to partner, now owned bySimon Property Group .
*Fingerlakes Mall -Auburn, New York - Opened 1976 - Sold to another company in 1996. (Currently owned byJones Lang LaSalle )
*Silver City Galleria -Taunton, Massachusetts - Opened 1992 - sold toGeneral Growth Properties .
*The Shops at Ithaca Mall -Lansing, New York - Opened 1976- Formerly Pyramid Mall Ithaca - Sold to Triax Properties.Power Centers
The Pyramid Company owns the following shopping plazas:
*Crossgates Commons -Albany, New York - Opened 1996 - Across the street fromCrossgates Mall .
*Hudson Valley Plaza -Kingston, New York - Opened 1996/1997 - Next toHudson Valley Mall .
*Plaza at Crystal Run - Middletown, New York - Opened 1994 - Next toGalleria at Crystal Run .
*Shops at West Seneca -West Seneca, New York - Opened 1998 - On the site of formerSeneca Mall .ThEATery
The "ThEATery" concept was developed by the Pyramid Companies in conjunction with the opening of
Palisades Center in1998 . It mixes movie theaters and upscale restaurants together for a combination of a movie/dinner experience. Currently, Palisades holds the only ThEATery concept, but a major renovation and expansion at theWalden Galleria on the side that facesI-90 will bring many new upscale restaurants and retailers never before seen at Pyramid Malls to theBuffalo, New York area.A predecessor to this can be seen in the expanded portion of
Crossgates Mall as that mall'sJohnny Rockets andHoulihan's are located across from that mall's theaters. Also, theGalleria at Crystal Run has a new Johnny Rockets location, and a couple new restaurants located near its movie theaters as well.Controversies
Expansion projects
The Pyramid Companies hold reputation for not following through on expansion projects to its properties. In 1998 alone, there were projects planned, but cancelled for 10 of the company's malls. Another controversy is the planned
DestiNY USA project that will turn Pyramid's hometown mallCarousel Center into a nationwide tourist attraction. The project has been in the planning stages since the summer of 2000. As of April 2006, nothing has been done yet. Even with all of these blunders, the company has come to expand or rejuvenate some of its properties.*
Aviation Mall - Expanded 1985,2005
*Carousel Center - Pending expansion 2006 - 2010
*Champlain Center North - Small expansion 2007-2008
*Crossgates Mall - Expanded 1994. Cancelled expansion 1998
*Galleria at Crystal Run - Cancelled expansion 1998. Small expansion 2002
*Holyoke Mall - Expanded 1995, cancelled expansion 2001.
*Hudson Valley Mall -Expanded 1986, 1999
*Poughkeepsie Galleria - Expanded 1990. Cancelled expansion 1998
*Sangertown Square - Cancelled expansion 1998
*Walden Galleria - Cancelled expansion 1998. Expansion 2006.
*Pyramid Mall at Ithaca - Remodeled 1986, Expansion 1988 (Sears), 2002-2003 (Target and former JCPenney)MB-18
In
2005 , Pyramid began the implementation of a Parental Escort policy (branded MB-18) at the group's largest malls. The policy states that between 4:00 p.m. and closing on Friday and Saturday evenings, all children younger than 18 must be accompanied by an adult 21 years or older (exceptions are made for mall employees under 18 not employed at anchor stores and, depending on cases, those with valid college identification). The policy is currently in effect atCarousel Center (Syracuse),Crossgates Mall (Albany),Galleria at Crystal Run (Middletown, NY),Walden Galleria (Cheektowaga-Buffalo, NY),Holyoke Mall at Ingleside , and thePoughkeepsie Galleria . This policy is not effective at the company's other malls at this time, nor is it in effect for anchor stores with external entrances.External links
* [http://www.pyramidmg.com Pyramid Company website]
* [http://www.deadmalls.com Deadmalls.com] — Website showcasing dead and struggling malls. Features some Pyramid-owned malls.
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