SPRINGFIELD, Mass. - More than 40 minority-owned businesses will be looking for a new home with the Eastfield Mall set to close this summer.

For businesses like Neighborhood Dreams, which is a creative art business, it will be a challenge.

"It's tough, I expected it," owner Alberto Navarro said. "It was just a matter of time. I'm more hurt for the other small businesses who just started here so they're more invested in the moment. They just started to build their business so it's a little tougher."

Onyx Partners Ltd. bought the mall and will have it demolished once it is permanently closed. Springfield City Councilman Zaida Govan said it will be tough on some locals to see a community staple close, but it's time for provide opportunities for better economic growth.

"As we know, malls all over America have kind of gone of defunked because nobody uses them anymore," Govan said. "So I think it's time for this to happen and I think it's exciting for the city of Springfield."

Navarro said the city needs to be proactive during the closing process and many small business will suffer since foot traffic at the mall has helped them. He said the financial burden will also be difficult.

"Grants, ARPA money that there is to be able to help maybe pay for first and last for the next businesses," Navarro said. "Or to help a little more for those that just started a year ago, two years ago that just invested all they had to then a year later be told, 'Oh alright you gotta start over. You gotta reinvest. You gotta fix this place up. You gotta fix that up.'"

The mall is expected to close sometime in July. The city and the developers have said they would provide rent assistance to businesses, but haven't revealed any official plans yet, but the goal is a create a business hub for the city.