A Texas developer is digging deep into its pockets to transform one of America’s oldest shopping centers. Ray Washburne’s HP Village Associates has purchased the 1 million-square-foot Country Club Plaza in Kansas City for $175 million, with plans to invest an additional $100 million on redevelopment, the Wall Street Journal reported. The sale price is significantly lower than the $660 million paid by previous owners Macerich and Taubman Centers in 2016. They defaulted on a $295 million loan last year, causing vacancy in nearly 25 percent of the retail space due to underinvestment and increased competition. “I’ve never seen this many empty stores,” Michael Naumov, whose family has run Lari
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