Under new ownership as of earlier this year, the 280,000-square-foot Macy's store at Stonestown Galleria is set to get redeveloped into a multi-plex cinema, a grocery store, and multiple shops and restaurants. The Business Times has news of the plans submitted by General Growth Partners, which bought the anchor-tenant store in January as part of Macy's larger effort to offload some of its real estate holdings which also includes the earlier announced sale of its men's store in Union Square.
The plans call for the subdivision of the massive space into multiple retail spaces and the theater. The store sold for $41 million, and as of January, Macy's was saying they planned to lease back the store for an undisclosed amount of time probably just as long as it takes the new owner to get their plans through the approvals process.
Below, one elevation drawing that shows some hints of the design and the intention to remove the enormous wall feature on which currently sits the Macy's sign seen above.
Back in January, a spokesperson from General Growth Partners declined to give specific details about these plans, but said, "We have redeveloped, and are currently redeveloping, over 100 former anchor and big box sites throughout our portfolio over the past 5 years. The Macy's at Stonestown represents a further opportunity for us to add value to the property."