Southridge Mall is well on its way to becoming a relic. As a classic surrounded-by-asphalt mall, it's an object lesson in the "retail wasteland" concept that is slowly - - and thankfully - - fazing out. The entire character of the area could be uplifted if the mall can be refitted as a mixed-used commercial-residential complex. With lifestyle center developments like Fountains of Franklin and the Shops at Wyndham Village emerging in nearby Franklin, enclosed malls will become VHS, so to speak.
As it is now, this huge hunk of Greendale is mainly a habitat for vehicles; the yellow zone is parking, and the blue zone is the actual Southridge Mall building. Incredible.
Greendale wants a say in Southridge's future
Village has a stake in mall's future, officials say
By DANI McCLAIN
[email protected]Posted: Jan. 25, 2007
Greendale officials want to influence the changes in store for Southridge Mall - the village's biggest taxpayer - as it comes under new ownership.
The village is seeking proposals from two planning firms - HNTB Corp. and R.A. Smith and Associates Inc. - to develop its own vision for the mall's future, Village Manager Joseph Murray said.
Conversations have focused on whether the 110-acre complex, the largest shopping mall in the state, could support mixed-use development, whether housing could be part of that mix, and costs associated with various redevelopment plans, Village President John Hermes said. Talks have been in progress for several months.
"I want to get ahead of this more than we have in the past," Hermes said. "Southridge is an important economic issue, not only for Greendale, but for the entire region."
The redevelopment of other area shopping malls, such as Bayshore Town Center in Glendale, Wauwatosa's Mayfair Mall and Brookfield Square, has been cause for concern, Hermes said. Southridge may have to consider a major revamp to stay competitive.
"The retail model that exists now is outdated," Hermes said. "We have to think about what the next popular retail model is going to be beyond lifestyle centers and town centers."
Last week, financially troubled Mills Corp., which bought Southridge two years ago, announced it has agreed to be purchased by Toronto-based Brookfield Asset Management Inc. for $1.35 billion. The transaction, subject to Mills shareholder approval, is expected to close in the second half of 2007.
Greendale depends heavily on the mall's tax revenue. The village has no space to create new homes or businesses from scratch that could produce tax dollars.
Hermes said his strategy has been to build consensus with local government officials and the mall's owners. He has reached out to Mills and Brookfield Asset and has spoken with the mayor of neighboring Greenfield.
"We need to have this looked at as a regional process," Hermes said. "Funding is an issue that's way down the road yet. What I know is that it can't be shouldered completely by Greendale."
Hermes will present his research next month to a joint meeting of Greendale's community development authority and planning commission. The next step will be getting community input and, eventually, hiring a planning firm, Hermes said.
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