PROVIDENCE, R.I. (WLNE) — Attorneys who have been appointed to take control of Providence Place Mall receivership will appear in court today to give an update on the mall’s future. Centennial, a retail real estate investment firm, replaced the mall’s previous manager Brookfield Properties on Nov. 15, holding a one-year contract for temporary receivership. According to The Providence Journal, Providence Place was petitioned for receivership, as the mall’s management owed $259 million in outstanding loans. Mark Russo and John Dorsey of Ferrucci Russo Dorsey, the temporary receivers of the mall in partnership with Centennial, said they are working toward long-term sustainability for the mall through improving security protocols, parking, housekeeping, facility repairs, and equipment. Russo said they have been discussing a plan with Macy’s to stay open “for the immediate future,” as well as are pursuing other tenants to add to the mall. Russo said in his statement further: “While the mall’s many stores continue their offerings at Providence Place, we are actively pursuing opportunities to bring in exciting new tenants to further improve its appeal. The mall’s prime location, high visibility, and established reputation make it an attractive destination for businesses looking to reach a diverse and dynamic customer base.” The hearing regarding the receivership plan is set to take place at 9:30 a.m. at Providence County Superior Court. Providence Place Mall opened back in 1999, and was the most expensive development project in the history of Rhode Island. Categories: News