Victor Moves to Claim Eastview Mall Parcels and Keep Them Local

Victor's town board voted unanimously on August 24 to begin Eastview Mall eminent domain proceedings on five key parcels — a move aimed at transferring the region's largest retail center from a Miami-based financial servicer to a locally aligned ownership group.

The five parcels aren't the anchor stores. They're the underlying land that keeps the whole property functional. Under the plan, the town would acquire them at fair market value under New York's Eminent Domain Procedure Law and transfer them to Victor 2040 LLC, a locally registered entity. Residents get a say first: a public hearing is set for September 28 at 7 p.m. at Victor Town Hall.

The Eastview Mall Eminent Domain Vote

The Eastview Mall Eminent Domain Vote

The August 24 vote was unanimous. All five board members supported initiating the proceedings and scheduling the public hearing before anything moves forward.

The town wouldn't keep the parcels. Under the arrangement, they'd be transferred to Victor 2040 LLC — registered August 7, 2026 — which has agreed to cover all legal and consulting fees through the hearing process. Anthony Iacchetta, counsel to Victor 2040 LLC, put the financial structure plainly in the Town of Victor's announcement: "Victor 2040 offers a fair, fully financed path forward where lenders are paid, taxpayers bear no cost."

The Out-of-State Servicer Standing in the Way

The Out-of-State Servicer Standing in the Way

At the center of this dispute is Rialto Capital, a Miami-based special servicer holding the mall mortgage. According to Finger Lakes Times reporting, Rialto has withheld operating cash and reserves needed for routine maintenance and tenant incentives — the resources that keep a mall competitive and its leases filled.

Wilmorite, the Rochester-based group that has managed Eastview for decades, sits on one side of that dispute. Supervisor Jack Marren's position, as he told the Rochester Business Journal, is unambiguous:

"You can't understate the value to this region of having local ownership."

— Jack Marren, Victor Town Supervisor

An out-of-state servicer answers to its own balance sheet, not to Victor's residents or its tax base. The eminent domain action is designed to close that gap.

What Eastview Mall Means to This Region

What Eastview Mall Means to This Region

The numbers make the stakes plain. Eastview supports approximately 4,000 jobs and generates roughly 20% of Victor's annual operating budget through taxes and fees. A mall in sustained decline isn't only a retail story — it's a direct cut to town services.

Victor has used this legal tool at Eastview before. According to Finger Lakes Times, the current action mirrors a prior acquisition of the Lord & Taylor site — later redeveloped as Bass Pro Shops — and a 1990s JCPenney parcel acquisition. Both times the mall came out stronger. Supervisor Marren's framing for this one follows the same logic: "A healthy mall is in the public's best interest."

What Comes Next for the Mall and the Community

What Comes Next for the Mall and the Community

Victor 2040 LLC was registered August 7, 2026 — 17 days before the board vote. The group's commitment to absorb all legal and consulting costs through the hearing process means the town carries no financial exposure while the process unfolds.

The September 28 public hearing at Victor Town Hall starts at 7 p.m. Anyone who works at Eastview, shops there, or depends on the tax revenue it generates can appear and speak before the process moves to the next step.