Mayfair Boston Store Redevelopment | Milwaukee Magazine

The Wauwatosa Community Enhancement Authority submitted a prosperous $3.95 million bid at a recent auction for the former Boston Keep assets at Mayfair Mall.

Metropolis of Wauwatosa staff members users are actively doing the job on innovative utilizes for the place and crafting a growth agreement that quickly will be introduced to the Frequent Council.

The assets, such as the present developing and encompassing parking a lot, addresses about 15 acres. The house is zoned “C2 industrial,” indicating that it could be produced as combined-use commercial, housing, retail or place of work.

“Maintaining Mayfair Shopping mall as the premier shopping mall in Wisconsin is vital to our local overall economy,” Wauwatosa Mayor Dennis McBride stated in a statement. “We’re excited about the redevelopment of this residence and acquiring the proper blend of utilizes that push guests, deliver work and boost our tax base.”

The expense and redevelopment of the web page will be certain Mayfair Mall proceeds to be a regional location, with the greatest retail gross sales of any mall in Wisconsin, the Wauwatosa Community Growth Authority said in a release.

The metropolis approved the Group Progress Authority to use hard cash reserves for the obtain of the house. However, plans simply call for a tax incremental district to reimburse the authority for the obtain. The move involves acceptance by the Joint Critique Board.

The website has been vacant considering the fact that 2019, and two prior auctions proved unsuccessful in attracting a consumer. The making is 216,664 square toes and situated on the south conclusion of Mayfair Shopping mall.

The announcement pertaining to former Boston Shop internet site at Mayfair will come less than two months immediately after Kohl’s exposed that it is established to go into the former Downtown Boston Store area. The Menomonee Falls-based mostly retailer will renovate the room at the corner of West Wisconsin Avenue and North Vel R. Phillips Avenue that has been empty considering that Boston Keep vacated the house 4 many years ago after running there for approximately 125 many years. The retail outlet is predicted to open up in slide 2023.

In December, The Greendale Village Board authorised a strategy to rework the previous Boston Keep home at Southridge Shopping mall in Greendale into an upscale combined-use intricate that will incorporate as lots of as 790 apartment units, underground parking and 50,000 sq. feet of retail and business place.