MESA, AZ — A developer is proposing to tear down a former Kmart building in Mesa and replace it with 395 apartment units.
Mesa City Council will decide on Oct. 4, whether to change the zoning of a property in Mesa that will allow Stillwater Capital LLC – a Dallas-based developer – to turn a handful of vacant retail buildings, including a former Kmart store, into a large apartment complex.
Stillwater Capital said in its proposal to the city of Mesa that it is in escrow to acquire 17.5 acres near Hampton Avenue and Power Road near the Mesa Pavilions shopping center. Stillwater will be buying the property that houses a 115,000-square-foot Kmart building that has been vacant for nearly four years and another retail building, which totals 64,500 square feet, that has been mostly vacant for years except for a Sally Beauty location, which is still open. A Spirit Halloween store operates seasonally in the building as well.
“The present commercial uses are no longer viable due to the ever-changing and shrinking physical retail footprint,” the developer said in its proposal. “Additional housing opportunities in the area will provide much-needed support to the existing retail further west of the site.”