What's Next for the Charlestowne Mall?

ST. CHARLES, IL - It's been a bumpy road for the struggling Charlestowne Mall.

Krausz Companies is looking to redevelop the property to bring in more tenants but has changed its course a bit since the project was initially proposed. In a statement from the developer that Mayor Ray Rogina shared at Monday's city council meeting, Krausz said they now hope to develop the mall as a mixed-use project that includes retail, dining, entertainment and residential uses.

"The current configuration of the center does not lend itself to the contemporary concepts that both retailers and shoppers desire in today’s market," according to the statement. "To be successful today, a new development must incorporate retail, dining, entertainment and residential uses. The Krausz Companies has concluded that a successful rebirth of the Charlestowne mall must reflect that market demand, and that the developers must take the project in this new direction."

While more detailed plans are expected to be presented to the city council in the future, updates to current businesses at the mall are in the works. Carson Pirie Scott is adding furniture to its inventory at its store and Classic Cinemas is planning renovations to upgrade to larger seats and adding a new public entrance, according to the article.

Meanwhile, Cooper's Hawk Winery & Restaurant will begin construction in July on the property. The new winery and restaurant will be built at the northwest corner of Smith Road and Main Street in St. Charles, the Daily Herald reports. Cooper's Hawk plans to open by next summer.

Meanwhile, the mall did get some bad news in the past month when Kohl's announced it would close its St. Charles store. The retailer announced the location at the Charlestowne Mall would be among 18 other under-performing stores across the country to close in June.

Here is the full statement from the Krausz Companies regarding the mall project:

The Krausz Companies purchased the Charlestowne Mall two years ago with the intention of redeveloping the center as a traditional enclosed mall. Since that time, a team of highly qualified mall leasing specialists have been working diligently to bring a vibrant mix of tenants back to the mall. However, the retail environment continues to evolve as consumers’ shopping habits change, with tenant desires closely following the demonstrated preferences of their customers. The current configuration of the center does not lend itself to the contemporary concepts that both retailers and shoppers desire in today’s market. To be successful today, a new development must incorporate retail, dining, entertainment and residential uses. The Krausz Companies has concluded that a successful rebirth of the Charlestowne mall must reflect that market demand, and that the developers must take the project in this new direction.

The vision moving forward is to develop a mixed-use project which will build on the strength of the existing retail anchors, Von Maur, Carson's, and Classic Cinema theater by adding a residential component that reflects the values and high standards of the neighborhood and the community. The Krausz Companies has been working with City staff to further develop plans that the City of St Charles and the adjacent residential community can embrace. As these plans come together we will share them with the community by presenting a revised Concept Plan to the City Council in the near future.

As announced earlier this year, Cooper's Hawk Winery will be opening its newest location at The Quad next year. Construction is scheduled to commence in July of this year with the grand opening slated for Spring of 2017. The addition of Cooper's Hawk has generated further interest in the project from other food and entertainment users, with additional tenants in final lease negotiation and announcements expected in the near future. In addition, Carson Pirie Scott has announced that it is adding furniture to its current merchandise mix at this location, and is developing plans to remodel its store shortly thereafter. Classic Cinemas will also be undergoing a remodel in the near future, including but not limited to replacing its existing seats with state-of-the-art larger seats, and installing a new public entrance.