We now have more details on the development of the former Mid-Cities and Lakeshore Mall properties.
Mayor Justin Nickels revealed that the city is working with Tycore Built out of Green Bay to craft a term sheet for the project covering the 37.1-acre plot.
The term sheet calls for a minimum of 40 single-family homes where the Yonkers Mall currently sits and a minimum of 168 apartments, ranging from one to three bedrooms, on the land where the JC Penny Mall used to be.
Additionally, three commercial plots will be constructed along Memorial Drive.
In total, the project is estimated to cost around $70 million.
The area is covered by a TIF district, which means that a portion of the property tax collected will go toward further developing the area.
Mayor Nickels also noted that the demolition of the mall and the removal of the parking lot will continue in October and November, with Tycore set to begin site prep and construction this winter.
