Like many malls across the US, the Circle Centre Mall has seen a decline in shopper traffic and an exodus of major retailers in recent years — but Hendricks Commercial Properties LLC plans to change that in a big way.

The firm, which is best known locally for its development of the Bottleworks District, has made a deal to buy the mall from its 17 current owners at an undisclosed price. It will then spend $600 million to transform it into an open air shopping, housing, and workplace experience. Here's what we know about the proposal so far.

Timeline

Phase 1 will be completed in 2028, with the rest of the work continuing through about 2033.

Specs breakdown

Initial campus plans include 376,000 sqt of retail space, 471,000 sqft of office space, 228,000 sqft of residential options (including an affordable housing component), and 72,000 sqft of entertainment space, part of which would be an esports facility.

Current plans for the redevelopment include what is being referred to as the Monumental Staircase, which will create a dramatic pedestrian entry to the area. | Rendering courtesy of Hendricks Commercial Properties

New structures

The central interior hallway that currently runs the length of the building will be dismantled and replaced with an outdoor, elevated promenade, surrounded by a dozen four-story buildings encompassing 1.9 million-sqft. A large staircase at the southeast corner of Illinois and Washington streets will provide a dramatic entry to the mall. As for the Artsgarden, it will remain in place but will become disconnected from the mall.

Tenants

Hendricks CEO Rob Gerbitz said of current mall tenants, "we’re not going to lose any of them — we want them to continually thrive during this process of redeveloping." It's likely that many of those inside the mall while need to vacate during construction, while those with frontage along Meridian and Maryland streets will likely be able to remain in operation during redevelopment. Potential new tenants have not yet been announced.

What do you think of the project plans and the future of Circle Centre Mall? We want to know.