Taubman Gets Court OK for $500M Mall Permit

SYOSSET, NY-Taubman Centers Inc., a Bloomfield Hills, MI-based developer, welcomed a recent ruling by the New York State Supreme Court that the Town of Oyster Bay must issue Taubman its long-delayed special use permit for the Mall at Oyster Bay. The luxury shopping center, expected to cost up to $500 million, has faced many court-related delays for the past seven years.

Opponents of the proposed upscale mall have said that the development will negatively impact the traffic, safety, environment, quality of life and home values in the area, according to the website of one of the opposition groups, the Cerro Wire Coalition. The coalition is composed of 27 groups, including a variety of local mom-and-pop retail businesses and several homeowners associations. Cerro Wire Coalition did not respond to GlobeSt.com queries by deadline.

The proposed 860,000-sf mall—-reduced now to 750,000 sf—-which will be built on the site of the former Cerro Wire Works, will be anchored by Neiman Marcus, Barney’s New York and Nordstrom, which signed on Oct. 20, 2005 to replace the earlier revealed anchor Lord & Taylor store. According to a Taubman release, it will be the first new major retail property in Long Island in more than 30 years.