Bloomington approves redevelopment agreement for Colonial Plaza

Posted on March 14, 2016
Colonial Plaza design
Dick’s Sporting Goods is planned to take up the majority of the space previously filled by K-Mart. (Adam Studzinski/WJBC)

By Adam Studzinski

BLOOMINGTON – The Bloomington City Council on Monday night approved an agreement with BT Bloomington for the redevelopment of the Colonial Plaza.

The developer plans to bring in Dick’s Sporting Goods, Home Goods, Five Below, Carter’s Osh Kosh B’Gosh and DSW to fill the former K-Mart building. Economic Development Coordinator Austin Grammer said Dick’s will take up 50,000 sq. ft. of the space.

“Bringing in Dick’s to Colonial Plaza will become the new anchor for that center,” said Grammer. “Most national retailers like to be by other retailers that bring in, and attract, similar clientele.”

The city recently approved several economic incentives on the property, which are included in the agreement and will assist the developer in completing the project. Grammer also noted the developer will be resurfacing the parking lot and add in more landscaping.

The council approved the deal by an 8-1 vote. Alderman Kevin Lower cast the lone “no” vote.

Downtown resolution

Also on Monday, the council approved a resolution to look further into a developer’s proposal to build a $53 million hotel in downtown.

The developer has asked the city to contribute $13 million to the project.

That resolution was passed by an 8-1 vote as well, with Lower again being the only aldermen voting against it. He said the city doesn’t have its priorities in line.

“I think we’re actually violating some of our goals. I’m not sure this is going to help grow the local economy at the current time,” Lower said.

Grammer explained this resolution does not mean the city is saying it will contribute any funding now, or in the future.

Adam Studzinski can be reached at [email protected].

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