The city of Greenfield is seeking a mixed-use redevelopment of the mostly vacant
Spring Mall, according to a request for proposals the city issued Tuesday.
The 24-acre property is located at 4200 S. 76th St., near the intersection of 76th Street and Cold Spring Road, and currently consists of an empty 124,000-square-foot building and a mostly empty 43,000-square-foot building.
The city has set an asking price of $4 million for the property and a deadline of Oct. 26 for proposals.
Under zoning approved in July, the city will allow up to 500 apartments in four-story buildings on the property. It also would allow up to 250,000 square feet of commercial space in five-story buildings with retail, offices, medical clinics or other entertainment businesses.
The city asks that any redevelopment plan either preserve or provide new space for the Meyer’s Family Restaurant that is in business on the property.
According to the RFP, the city will consider supporting a redevelopment with tax incremental financing. The city might also sell portions of the property for $200,000 per acre.
The city purchased the mall for $3.7 million in June from a New York-based firm after a purchase contract with Milwaukee-based
Cobalt Partners fell through. Cobalt had proposed to redevelop the property with around 370 apartments and townhomes.
