Brookfield Plan Commission approves city funding for Brookfield Square expansion

By Matt Masterson - Freeman Staff

June 11, 2014

This rendering depicts part of Brookfield Square Mall’s proposed expansion.
Submitted rendering

BROOKFIELD - The Plan Commission unanimously approved a development agreement related to expansion of the Brookfield Square Mall at its meeting Monday night.

Community Development Director Dan Ertl said the commission agreed to allocate $7 million from tax incremental district 3 to CBL and Associates Properties, Inc. for the demolition of parts of the Sears store - phase six of the project - at the Square and the construction of a parking structure on-site - phase seven.

CBL owns Brookfield Square as well as malls in Madison and Wausau.

Site building and landscaping plans for phase six of the project had already been approved.

“For phase six it was $450,000 for demolition costs at Sears and that will not be offered to them until they complete the project and obtain a certificate of occupancy,” Ertl said. “Phase seven, $6.55 million to offset the costs for the parking structure immediate west of and connected to the second floor of Boston Store.”

The development agreement still needs to be approved by the Common Council, which will review the matter at its meeting later this month.

Ertl said the completion date for phase six is set for the end of 2015, while phase seven is scheduled to be finished before the end of 2018. Both of those dates may be moved up, based on CBL’s success in leasing six buildings it is currently developing at the square.

The allocated funds will offset a large piece of the projects, but Erdl could not say whether it would be enough to fund the entire project because it has not yet been designed or bid on.

www.cblproperties.com