MOUNTAIN IRON — A strip mall alongside Highway 53 in Mountain Iron has a new owner and soon will receive a major renovation.

Mountain Iron officials announced Monday night that the Plaza 53 West shopping center has been purchased by a Texas developer, which plans a $4.6 million remodel. The company will hire a St. Paul firm to manage the mall.

The project will include major work on the parking lot, which has been a pothole nightmare for some time. Officials said Iron Range Resources and Rehabilitation Board funds will be sought to help with the project. No details were available on any possible new retail tenants.