Niles officials approve $96 million agreement to redevelop Golf Mill

A rendering of the redeveloped Golf Mill Shopping Center is displayed at an Open House event on June 10, 2024 hosted by the village of Niles and Sterling Organization, the owner of Golf Mill. The Village of Niles Board of Trustees officially approved a redevelopment agreement with the owners of Golf Mill Shopping Center to redevelop the mall at Tuesday’s board meeting, June 25.

Sterling would be eligible to receive up to $96 million in tax increment financing bonds from the village for the first phase of construction at Golf Mill. The village’s economic development director, John Melaniphy, said the developer would be eligible for tax increment financing funds through partial reimbursements as construction gets underway, meaning that Sterling will need to complete its construction work in phases and get reimbursed by the village once construction is complete.

A rendering of the water feature at the Golf Mill Shopping Center is displayed at an open house sponsored by the village of Niles and Sterling Organization, the owner of Golf Mill, on June 10, 2024. The first phase also includes a 300-unit apartment building with studio, one-bedroom, two-bedroom, and three-bedroom units, as well as rooftop amenities and a pool, according to plans. Sterling won’t directly build the residential building, but will either sell the parcel of land it sits on or partner with a developer that will operate it, he said.

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