LOUISVILLE, Ky. (WDRB) -- We are now getting a better idea of what could be in store for the Mid City Mall if gets sold.

The mall has been around since 1962 and has about a dozen businesses still inside. While many are gone, the memories are not.

“It has been a great home. This is the third place I have had a business, the third location I've had a business in and it's definitely my favorite,” said Ann Thompson, a barber at Key Lime Salon inside the mall.

Thompson has worked at the salon for four years, and has heard rumors of a potential sale during that time.

“I think there will be a void if the grocery store leaves, if the movie theater leaves, if the doctor's office leaves,” Thompson said.

The 11-acre property is prime real estate in the Highlands.

“This is a real opportunity for us as a neighborhood and as a city to be thinking long-term about what kind of development we want in the city,” said Councilman Ben Reno-Weber, D-8, who represents the area.

Reno-Weber believes that while some of the current businesses could remain at the location, they would just be in a different form. In order to maximize space, developers would have to create a multi-story building or several smaller ones.

“That property, the density is such that in order to make it financially viable there will have to be something there. I would like to see some housing, I would like to see some affordable housing,” Reno-Weber told WDRB on Tuesday.

The Highlands – Shelby Park Library is one of those businesses many would like to stay.

“We come to the library at least once a week as a special treat. Jonah knows exactly where to go to get the books that he likes,” said Jeremy Levine, who was visiting with his grandson.

The property also has a lot of free parking, something that can be tough to find along Bardstown Road.

“That's one of things we enjoy as operators, as cosmetologists and as a barber,” Thompson said. "It's great because parking is not an issue.”

There has been no word yet on any potential buyers or an official sale price.

“It's an important spot for the community, it is a touchstone for a lot of people. I think they'll miss it if it's truly gone,” said Thompson.

Reno-Weber said it could be a couple of years until an official project is decided on. He plans on having several public meetings along with each step of the sale and development process.

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