JT Klein Co. has yet to release details of the plan, but it will likely include a mix of affordable and senior housing along with retail and commercial space.
The J.C. Penney store in Richland Center is among the casualties.
Some of the top business stories from the past week include:
Many stores will open Thanksgiving evening or late afternoon.
The yawning income gap is being blamed for traditional shopping centers falling on hard times.
A baby in a stroller was used as a cover for stolen merchandise on Black Friday at an East Towne Mall store, with a security guard beaten up by the suspects before they were arrested and the items recovered.
The J.C. Penney store at West Towne Mall is undergoing a $4 million renovation as part of the company's investment in its existing stores.
A "suspicious box" that prompted a bomb scare and partial evacuation at West Towne Mall on Friday afternoon was left there by a man who had won it, Madison police reported Saturday.