[5] In December 2013, Devonwood Investors, a development company led by managing partner Don Sinex, acquired the Town Center for $25 million.

[1][6] In November 2014, Sinex announced plans for a $200 million rebuilding of the mall, with new retail, office, and housing space, as well as a hotel and expanded parking facilities.

[7] In December, Sinex filed the majority of the permit applications for the $125 million first phase, which, subject to city approval, would build a 14-story tower on part of the property.

[7] Construction was to take place between July 2017 and January 2019, in time for the planned anchor tenant, the University of Vermont Medical Center, to take occupancy after the lease on its previous location expired.

[8] On March 2, 2021, Downtown Burlington High School was unveiled in the vacant Macy's building as a temporary replacement for the original campus.