Feb. 2, 2005, 6:37AM Investors want to switch Northline from regular mall to open-air center By NANCY SARNOFF Copyright 2005 Houston Chronicle Sometime next year, Northline Mall, one of the oldest enclosed retail centers in Houston, could be a thing of the past. A new ownership group has plans to demolish the struggling mall to make way for an open-air shopping center filled with big-box retailers like Target, Wal-Mart and Best Buy. By early 2006, the new owners expect to be building nearly 900,000 square feet of new retail space along the perimeter of the 77-acre property. When that's done, they will tear down the mall for parking space. Before going forward, the new owners need to bring in the new tenants. And some real estate observers say they could have a hard time persuading national retailers to open stores at Northline because many of them already have locations nearby. Eastbourne Investments, a New York investment firm, has purchased a 50 percent interest in Northline from the original developer and owner, Berenson Associates of Boston, which will retain the remaining stake in the property. They hope the mall's current stores will relocate to the new center