The deal to sell the site of the former Southwyck mall is off the table.

An unknown buyer made an offer to the city, but has now taken it back.

That buyer claims the city turned down a request to extend the due diligence period until January 31, 2017.

It's yet another setback to a struggling site.

Ten years ago, the Southwyck mall, complete with its signature indoor carousel, was ready to reinvent itself.

In May of 2006, developer Larry Dillin, who built Levis Commons, unveiled plans give the mall a makeover.

Those plans never made it off the page.

Two years later, in June of 2008, after it was open for more than 30 years, the Southwyck mall closed its doors.

By May of the following year, demolition began.

The indoor mall would be completely torn down by the end of 2009.

In 2012, then mayor Mike Bell announced a deal with another developer.

Those plans never materialized.

Then came November 2014, when Toledo city council approved the purchase of the property for $3.25M.

The Southwyck property off Reynolds Rd. would now be owned by the city of Toledo.

The following year, the city announced it would hire a firm to market the site to potential buyers and developers.

By June of 2016, a buyer offered $2.8M for the vacant 58 acres.

Months later, in December 2016, that buyer took the offer off the table, saying the city would not grant an extension of the due diligence period until January 31st, 2017.

As Toledo enters a new year, this latest chapter of the Southwyck mall and the struggle to rebuild comes to a close, placing the city at square one when it comes to selling, redeveloping or revitalizing the property.