Racine’s Regency Mall: A $120 Million Transformation Unfolds

Racine, Wis (Civic Media) – In the heart of Racine, a transformation is underway at the iconic Regency Mall, breathing new life into a once-thriving hub. The $120 million redevelopment project spearheaded by Hull Property Group marks a pivotal moment for the city’s history. Woodman’s Food Market is set to take over land at Regency, with construction starting this July for a grocery store opening next year. The redevelopment project includes demolishing about 400,000 square feet of the mall. After the Woodman’s portion starts, the next phase of redevelopment will involve constructing approximately 280 apartments on 14.5 acres north of the new grocery store.

A reminder that part of the mall will remain and is still open. The eastern portion is coming down to make way for the new development. Stores that were in that section have moved.

Monday heralded a new beginning in the endeavor, as crews commenced demolition work, clearing the way for a fresh start at Regency Mall. Racine Mayor Cory Mason emphasized the significance of this redevelopment, highlighting its potential to reinvigorate economic activity in the area. Mason also highlighted the importance of bringing a substantial grocer to the area, addressing the city’s need for more food options

The city of Racine approved up to $39.4 million in tax incremental financing in April 2023 to support the redevelopment of Regency Mall. This financing allows Hull Property Group to recoup a portion of the annual property taxes generated by the mall redevelopment, which is expected to create approximately $80 million in new property value

The kickoff celebration saw the start of demolition at the former Boston Store, symbolizing the start of Phase I. The upcoming construction of Woodman’s Market and a gas station is slated to commence in July 2024, with an anticipated opening in summer 2025. Subsequent phases will introduce over 200 apartments and additional retail and dining options.

With sustainability in mind, plans are to recycle materials from demolition work.