Metrocenter Mall developer to get $68M tax break in exchange for parking garages

Metrocenter Mall developer to get $68M tax break in exchange for parking garages

Project timeline as of May 2022

• Summer 2022: Developer completes real estate transactions to acquire site.
• Winter 2023 to summer 2024: Demolition of former Metrocenter Mall.
• Early 2023 to late 2025: Commence construction of Phase 1. 
• Early 2025 to summer 2029: Completion of Phase 1. 
• 2025-2027 to summer 2032: Phase 2 construction and completion. 
• 2027-2029 to late 2035: Phase 3 construction and completion. 
• 2029 to late 2035: Completion of all phases. 
• 2054-2060: End of city reimbursement of garage/amenity costs.