Stratford Square Mall in Bloomingdale will be revitalized with a $30 million-plus redevelopment initiative.
Northbrook, IL-based StreetMac LLC and Stamford, CT-based Five Mile Capital Partners LLC are among the firms investing in the redevelopment plan.
“The goal is to bring Stratford back to the regional prominence it once had and to re-establish the property as a destination for families to enjoy shopping, entertainment and restaurants,” Anthony Giannini, senior vice-president of development and acquisitions at StreetMac, was quoted in an email, reports Dailyherald.com. “What we’re trying to do is elevate the quality of stores and the quality of the entertainment, restaurants and shopper experience.”
The plan includes new landscaping, upgraded finishes, revamped entrances, new signs, increased seating and new stores, restaurants and outdoor cafes in the mall’s 1.3 million sq. ft. of retail space.
Officials hope to receive approvals this fall, and for construction to begin next spring.
Current mall tenants include Macy’s, Sears, Burlington Coat Factory and a 16-screen Century Theatre complex.
The rest of the plan is yet to be finalized. Officials hope an approval this fall will ensure that construction begins next spring.
A successful Stratford Square Mall is something that helps the community as a whole and helps all the surrounding retail in our community,” said Bloomingdale president Franco Coladipietro.