Charlestown Mall Redevelopment Under Review

On January 10, 2022, the Planning & Development Committee convened to discuss the Charlestown Mall Redevelopment Proposal, a $125 million mixed-use project designed to revitalize the long-vacant mall. The meeting focused on concept feedback, with developers seeking strong committee support before moving forward.

Charlestown Mall Redevelopment Concept

Project Overview

Representatives from SR Jacobson Development and Flormax Stern Development presented a mixed-use vision including:

• Retail and dining options integrated with existing Bon-Mauer and Classic Cinema anchors

• Residential units: ~500 townhomes and garden apartments to generate sufficient tax revenue

• Public spaces: central plaza, amphitheater, and areas for community events

• Traffic solutions: roundabout, internal loop road, and mitigated drive-thru congestion

The developers emphasized the project's financial feasibility requires a Tax Increment Financing (TIF) district, projecting approximately $2.5 million per year in tax revenue to support development costs.

Financial and TIF Considerations

• TIF is proposed under a “pay-as-you-go” structure, with the city’s support contingent on revenue from residential units.

• Developers confirmed alternative concepts—such as residential over retail or converting the mall entirely—were deemed financially unfeasible.

Integration of Existing Businesses

The plan incorporates Bon-Mauer and Classic Cinema, which are not being purchased. Developers highlighted design adjustments to work around these operational anchors while maintaining project cohesion.

Committee and Public Feedback

Key Concerns

• Residential Density: Committee members questioned the impact of 500 units on schools, traffic, and neighborhood character.

• Aesthetic Appeal: Suggestions were made to better blend townhomes and apartments for a more cohesive look.

• Urban Experience: Some felt the commercial and public spaces lacked excitement or year-round activity.

Developer Responses

• Market studies indicated high rental demand, supporting unit density without overwhelming schools.

• Developers emphasized pragmatic design choices to reduce risk and ensure project viability.

Traffic and Parking Solutions

• Central roundabout and internal loop to manage flow

• Adjustments to Starbucks drive-thru and parking design

• A traffic study to be commissioned during the next development stage

Crystal Lofts Project Update

The committee received an update on Crystal Lofts, now under contract for sale. City staff are assisting the potential purchaser with:

• Due diligence and site assessment

• Addressing property violations

• Preparing for a flexible-use or light industrial conversion

A follow-up update will be provided at the next committee meeting.

Decisions and Next Steps

No formal decisions were made during this meeting. Action items include:

• Developers to refine residential design and amenities based on feedback

• Commission traffic study for Charlestown Mall

• Staff to continue supporting Crystal Lofts sale and due diligence

• Committee to receive further updates on both projects in upcoming meetings

Conclusion

The Charlestown Mall Redevelopment meeting provided a critical platform for committee and public feedback, highlighting both financial challenges and opportunities. With TIF support and thoughtful design integration, the project aims to transform a long-vacant mall into a vibrant mixed-use destination, while maintaining careful consideration of community values, traffic, and aesthetics.