The Wauwatosa Community Development Authority acquired the former Boston Store connected to Mayfair Mall for $3.95 million, city officials announced Monday.
Officials say city staff members are actively in discussions on how to use the space and crafting a development agreement to present to the Common Council in the future.
“Maintaining Mayfair Mall as the premier mall in Wisconsin is critical to our local economy,” said Wauwatosa Mayor Dennis McBride. “We’re excited about the redevelopment of this property and finding the right mix of uses that drive visitors, provide jobs, and increase our tax base.”
The property is zoned "C2 General Commercial," which allows for a range of mixed uses. The building is over 200,000 square feet and is located on the south end of the mall. The property includes the existing building and surrounding parking lots, which are about 15 acres.
According to our partners at the Milwaukee Business Journal, discussions are currently happening with companies interested in a public-private partnership to redevelop the property.