BoiseDev first told you about the purchase of a former Sears store at Boise Towne Square – and the potential for apartments on the site in May.
Now, the project is moving forward – and the large Sears store could be a thing of the past.
Madison Town Square
CSHQA applied with the City of Boise to tear down the large Sears box store at 460 N. Milwaukee St. in Boise, and replace it with 251 apartment units in a series of four new buildings.
Three four-story apartment buildings would go up, as well as a clubhouse building. The application calls for 126 one-bedroom, 91 two-bedroom, and 34 three-bedroom apartments – for a total of 410 total bedrooms.
Parking on the current site is plentiful, and the new configuration would include space for 332 vehicles – more than the 291 required by Boise City Code. The project would also include parking for 34 bikes.
The project, dubbed Madison Town Square, would provide what owner Madison Capital Group calls “garden-style” apartments.
The project will need approval from Boise’s Planning & Zoning Commission. No hearing date set, yet.
Life after Sears
The former Sears store and parking lot are owned separately from the main portion of Boise Towne Square, which is controlled by Brookfield Properties. The JCPenney, Macy’s, and Dillard’s properties are also owned separately.
Seritage Properties sold the property to MCG of Charlotte, NC earlier this year. Seritage’s name remains on the title for the property. Seritage filed a quitclaim deed to transfer the property to MCG in April.
Sears closed the store in early 2019 after a liquidation sale. The chain and its group of Kmart stores continues to shrink across the US.
Madison Town Square is one of several multi-family projects in progress around Boise Towne Square, including micro-apartments across the parking lot, and a 136-unit combo apartment and storage unit project across Cole Rd.