Oakwood Center is a major shopping mall owned by General Growth Properties in the city of Gretna in the New Orleans metropolitan area. Oakwood Center fell victim to significant damage in the aftermath of Hurricane Katrina.
The mall was heavily looted and then set on fire on August 31, 2005. Nearly 80% of the stores experienced fire or water damage. The main shopping area was closed during demolition and construction. However, two department stores, Sears and Dillard's, along with Dollar Tree, Foot Locker, and the Bank of Louisiana, have since reopened. Oakwood Center completely reopened on October 19, 2007.
Once renovations are completed, the center will also include: three sit-down restaurants; 360,000 square feet (33,000 m2) of specialty shops (regional and national retailers); and a 20,000-square-foot (1,900 m2) food pavilion.
In March 2009, a group of lenders led by Citicorp North America, Inc. seized the property when the owner failed to pay a $95 million mortgage at maturity.