A rezoning of the Boynton Beach Mall could lead to a mixed-use redevelopment of the property, where a Sears store is scheduled to close after the December holiday season.
The municipal Planning and Development Board in Boynton Beach will consider a rezoning of the 108.3-acre mall property on Monday.
The rezoning proposal, initiated by city staff, would allow the owners to redevelop the mall property for a mix of uses including entertainment, hospitality, office and residential.
Washington Prime Group controls Boynton Beach Mall LLC, which owns most of the 1.15 million square feet of leasable space at the mall. Washington Prime Group didn’t respond immediately to a request for comment from the South Florida Business Journal.
Other owners of property at the mall include Christ Fellowship Church, Dillards, Istar Florida 2015 Cinemas, Macy’s and Regional Enterprises.
A report by city staff noted that the Palm Beach County Property Appraiser cut the appraised value of the Boynton Beach Mall LLC from $46.3 million in 2016 to $33.5 million in 20717 “as the mall’s anchors JC Penney and Sears continued to suffer declining sales.” [South Florida Business Journal] — Mike Seemuth