The landscape of suburban Bloomingdale is poised for a major overhaul as the village plans to transform the defunct Stratford Square Mall into a new mixed-use community space, as shown in conceptual renderings. According to NBC Chicago, the unveiled vision for the space, henceforth known as "The Grove at Bloomingdale Commons," includes apartments, shops, community areas, parks, a playground, restaurants, and entertainment venues.
The initiative, aimed at rejuvenating one of Bloomingdale's "key landmarks," was introduced during a public meeting led by the village board and Mayor Franco Coladipietro. The village has already pledged a $4.7 million demolition budget for the site, with the teardown expected to commence in October. Plans for the mall, as it was reported by the Daily Herald, also incorporate a boardwalk, oval-shaped lawn, and potential features created from the original mall columns.
Coladipietro, sensitive to the area's history and community impact, was quoted by NBC Chicago saying, "It's going to put us back in the same situation of turning over property to people, who then once they have ownership of it, there's nothing that we can do." The mayor is advocating a strategy wherein the village retains ownership until a viable buyer comes forth. This approach, he believes, will prevent a repeat of the problems that led to the mall's closure.
Financially, the project is set to be supported through bonds and a Tax Increment Financing (TIF) plan, with the village currently loaning money to the TIF in anticipation of future profits generated by the new development. Despite the village's current outlay exceeding revenues, the expectation, as highlighted by the Daily Herald, is that future TIF revenue will cover the initial costs and any loans from the general fund required in the interim.
The ambitious redevelopment is projected to take five to eight years to reach completion, embarking on a journey to reshape the social and economic landscape of Bloomingdale. As noted in a statement with the Daily Herald, Village Administrator Pietro Scalera underscored the overarching vision, "Our vision is to create a vibrant space that reflects the evolving needs and desires of our residents, a destination that will enhance our community, create jobs and attract visitors, boosting our local economy." As the area approaches an epoch of reconstruction, the echoes of past retail giants will make way for future generations of community engagement and urban revitalization.
