The building housing the Indio Fashion Mall, which has been rebranded the Indio Grand Marketplace, is set to be torn down and replaced, according to plans released by the mall’s new owner, real estate developer Haagen Co., best known around the Palm Springs area as also owning the Empire Polo Field, home of the Coachella and Stagecoach music festivals.

The mall and property were purchased by Haagen for $10 million in February. Plans for the property have appeared in an online powerpoint, showing a mixed-use facility – with a shopping area (open air this time) replacing the current mall and a residential project on an adjacent yet-to-be-acquired lot.

Plans for the area have been highly anticipated since then Mayor Elaine Holmes stated “soon, you guys are going to have a mall area that is second to none in the State of California,” during her 2017 State of the City Address.

Initial designs for the property include a 10-screen theater, a gym, a 20,000 square-foot anchor store, and a 120-room hotel, according to the Desert Sun. A spokesman told the newspaper that there have not been any commitments from possible future tenants.

As far as current tenants of the mall, the company says they will be offered preferential access to the new development.