Proposal to revamp Bayshore Town Center could bring more housing, entertainment
GLENDALE (CBS 58) – A proposal to revamp the Bayshore Town Center could bring more housing and entertainment and less shopping.
“The inside of the mall is depressing,” said Terry O’Kelly, shopper.
Multiple storefronts like the Boston Store are closed and developers are hoping to bring new life to the mall.
“Less retail, more food and beverage, and things more focused on the town center,” said Glendale Mayor Bryan Kennedy.
The proposal would provide more flexibility to the new ownership group to tear down portions of the old mall and revamp it. Glendale’s mayor says the developer would relieve taxpayers of nearly $57 million of public debt and no taxpayer dollars would be needed for the project.
“The new owner must invest in the mall, they must follow through with the development plan they are putting forward because they don’t get municipal assistance unless the value of the mall goes up,” said Kennedy.
It’s a pay-as-you-go TIF – the developer pays the nearly $37 million up front and they get the money back in tax breaks assuming that they make the promised investments.
It’s still early on the process and the proposal still needs to be approved by various committees. The mayor hopes to get final approval by August.