WAUWATOSA, WI—HSA Commercial recently broke ground on the $46.6 million first phase of theMayfair Collection here, an adaptive reuse of obsolete warehouse buildings along Highway 45.
The project, at Highway 45 and Burleigh Street, is expected to include anchors Nordstrom Rack and Dick’s Sporting Goods. Other retailers, such as Ulta Cosmetics, have also signed leases for the’s first phase, which is scheduled to open in the summer of 2014. The first phase is primarily retail, and the project’s additional phases contemplate the development of multifamily, office, and medical components subject to future market demand for those uses.
The company and the city negotiated a proposal to create a tax increment financing district that will provide $8.5 million to cover infrastructure costs necessary to support the project. Des Plaines, Ill.-based Premier+ Build will serve as general contractor for the project, and Evanston, Ill.-based TOA Architects is responsible for the design.
“Ourefforts target the best possible retailers that will keep the Mayfair Mall trade area at the center of the retail universe in Wisconsin,” said Tim Blum, executive vice president with HSA. “Attracting that type of regional traffic will be essential in kick-starting a long-term development plan that achieves the ambitious vision that we share with the community of Wauwatosa.”