#IPIC MOVIE TIMES BAYSHORE MOVIE#

The $75 million proposal from Dallas-based Cypress Equities, a subsidiary of American International Group (yes, that AIG), to redevelop the mall includes a medical office building, more housing, vague talk of a potential hotel and a renewal at its “town square” with a skating rink during the winter and fire pit during the summer.

#IPIC MOVIE TIMES BAYSHORE MOVIE#

The iPic movie theater and bowling alley also closed last year. It lost three big tenants-Sears, Sports Authority and Boston Store-in the last five years. And now, even that is beginning to crumble, which can’t be a good sign for newer developments in the region like the Mayfair Collection in Wauwatosa or The Corners in Brookfield.īayshore has a lot of empty storefronts, with reportedly more than 50 available tenant spaces. What sets Bayshore apart and makes this a potentially telling scenario is that this is a mall that already adopted many of the trends many retail centers are now employing to reinvent themselves-restaurants, housing, entertainment options, etc-when it was first constructed. If Bayshore is already coming up short after its first 13 years when it had experienced some modicum of success, what makes it seem like the next 14 years would go better? Are malls set to make a comeback in the 2020s and ’30s? Is there suddenly going to be a huge demand to go shop at a Sunglass Hut and eat at Panda Express? That new $37 million in financing would then in turn be paid back by 2033. That funding would, with the help of the property owner, aim to pay off a $57 million tax financing debt that the city took on when Bayshore was created in 2006.

Last week, the city of Glendale held its first public hearing on a $75 million proposal to revamp the mall, which would involve a new $37 million financing commitment from the city’s taxpayers. So, why is such an expensive effort getting underway to try to save Bayshore Town Center?

The era of the bustling suburban mall is coming to an end, and big box stores are shuttering all over the region. The retail landscape in southeastern Wisconsin is undergoing massive changes.

Ipic movie times bayshore