Developers Plan $1B Redo of Great Northern Mall A partnership between Syracuse-based Hart Lyman Cos. and Conifer Realty has taken the wraps off plans for a $1B redevelopment of the Great Northern Mall in Clay, NY near Syracuse.The developers are planning a massive mixed-use development on the 215-acre site of the mall, which has been shuttered since 2022.The Great Northern Mall site is in proximity to a $100B semiconductor fab complex Micron Technology is planning to build in phases over the next 20 years.The project aims to create a "vibrant new town center" with 1.4M SF of new retail, office and entertainment space at the crossroads of Routes 31 and 481 on a site that estimated to be two-thirds the size of the Syracuse University campus.The redevelopment plans will demolish the mall and replace it with up to 1,700 luxury multifamily units, including apartments and condos; more than 790K SF of medical and office space; and 750 hotel rooms in six new hotels, according to a report in Syracuse.com.The mixed-use complex also will feature entertainment venues, a gym and grocery store, all connected by sidewalks and breezeways. The development is planning for 3,000 parking spaces and a community space in the middle of the new town center.Onondaga County Executive Ryan McMahon, who is supporting the project, has called for the development of housing and living clusters throughout the county, which he says will be needed to serve the anticipated workforce at the Micron complex, Syracuse.com reported.In November 2022, Hart-Lyman Companies bought the Great Northern Mall from Kohan Retail Investment Group for about $9M. The mall closed at the end of the year.In 2022, Micron announced its plans to build the largest leading-edge memory semiconductor fabrication facility in U.S. history in Onondaga County.Micron intends to invest up to $100B over the next 20-plus years to construct the new semiconductor fabrication facility in Clay, with the first-phase investment of $20B planned by the end of this decade.According to the company, the new semiconductor fabrication facility will create nearly 50,000 New York jobs and represent the largest private investment in New York State history.National Grid, the utility that will provide power to the utility applied to state regulators this month to run extra-high-voltage power lines to the Micron site, which when fully operational will use as much power as an estimated 2M households.Micron is applying for an unspecified amount from the federal CHIPs Act to build the Clay, NY complex and another chip fab in Boise, Idaho.Net Lease Spring:Held April 16-17 in NYC, Net Lease Spring will bring together hundreds of dealmakers from the nation’s top firms. This year’s program will feature 5.5 hours of face-to-face networking and over 5 hours of content focused on micro and macro trends for 2024, being resilient through market volatility, how to serve your corporate tenant clients and much more! Learn more or register here. Multifamily Spring:Multifamily Spring is coming to New York City this April 18. This year’s program will bring together the industry's most influential and knowledgeable real estate executives from the multifamily sector for 5 hours of face-to-face networking and over 5.5 hours of can’t miss sessions. Learn more or register here.