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Mall magnate Simon, a key MOA developer, is dead at 82
Developer remembered as an 'affable, warm-and-fuzzy' businessman.
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Melvin Simon, who helped build the nation's largest shopping mall company and played a crucial role in making the Mall of America a reality, died Wednesday in his hometown of Carmel, Ind., after a short illness. He was 82.
The son of a New York City tailor, Simon launched a shopping center development company in 1960 along with brothers Herbert and Fred. The brothers became known for their willingness to do business on a handshake, according to a company biography.
Today, Indianapolis- based Simon Property Group has full or partial ownership of more than 300 malls in the United States, Europe and Japan. In Minnesota, the company operates Southdale Center in Edina, Maplewood Mall, Albertville Premium Outlets and Miller Hill Mall in Duluth.
The brainchild behind the Mall of America was Triple Five Group, owned by the Ghermezian brothers of Canada, who wanted to bring together major retailers such as Nordstrom, Bloomingdale's and Macy's under a single, massive roof in Bloomington. The Ghermezians were eager to have a U.S.-based partner, and Simon Property Group joined the project in 1989. Simon Property parted ways with Triple Five in 2003, a decade after the mall opened, after losing a protracted legal battle over majority ownership of the center.
Tom Crowley, who arranges commercial real estate loans with Dougherty Funding in Minneapolis, brought Simon Properties and the Ghermezians together.
"The Ghermezians had a great idea, but it took somebody like Simon to take all these loose ends and get the deal done," Crowley said. "The city had spent money building roads and bridges, and practically all you had to do was roll the bulldozer off the truck. Sometimes these deals are 10 years in the making. Once they saw the readiness of the site, they jumped on it."
Crowley said Melvin and his younger brother Herb were "pranksters. Truly the most affable, warm-and-fuzzy developers. So much fun, you couldn't believe it. [Melvin] was a dealmaker -- but a nice one."
Melvin Simon spent nearly 40 years leading Simon Property Group. He and his brother stepped down as co-chairmen in 2007. His son, David, is the company's CEO.
Jackie Crosby • 612-673-7335
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Re: Mall magnate Simon, a key MOA developer, is dead at 82
A business titan has passed on, and it will be hard to conjure a conceivable replacement for Mel Simon. He was 82 years old. He and his … read more brother founded the Simon Property Group out of Melvin Simon and Associates, the company that gave birth to the indoor shopping mall, and they have malls across the globe, including the Mall of America. In 1983, he and his brother Herbert Simon both bought the Indiana Pacers, and in the 26 years since the purchase the team has made the NBA playoffs 17 times. He was also a lifelong and devoted Democrat. There are few in the same class as Mel Simon, and it takes more than payday loans to mold such an innovator.
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