This afternoon, General Growth Property stock prices fell to 35 cents. That's 14 cents lower than it closed at yesterday, when news it could file for bankruptcy came out.

The company already said in a file with the Securities Exchange Commission that it was halting all new projects for now.

KGMB9 spoke to a spokesperson in Chicago, about the future of the Ward Development and Kapolei Commons, scheduled to open in 2009.

Jim Graham, senior director of public affairs, released this statement.

"Our intent is to continue on the path of getting approvals for the Ward Neighborhood Master Plan as we have invested so much in working with world class planning experts and with the community to create our proposals. Our plan for the Ward Neighborhood sets the course for the future no matter the developer. Approving the plan now sets the stage for development later when the economy improves."

KGMB9 is awaiting news on the status of Kapolei Commons, where the state's first Target is under construction.

Related Stories:

• Ala Moana Landlord Faces Bankruptcy
• Redevelopment Plans for Ward Warehouse, Ward Centres

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