JENSEN BEACH, Fla. (CBS12) — A major transformation could be coming to Treasure Coast Square in Jensen Beach, as planners envision turning the aging indoor mall into a walkable mixed-use village with apartments, open-air shopping, restaurants and public gathering spaces.
A newly released redevelopment study prepared for Martin County proposes gradually replacing large portions of the enclosed mall with tree-lined streets, green space and housing while keeping some existing anchors and entertainment venues in place.
The conceptual plan, prepared by the Treasure Coast Regional Planning Council in collaboration with county officials and Simon Property Group, calls for a phased redevelopment of the 84.6-acre property along U.S. 1.
Under the proposal, the mall’s traditional indoor corridors would eventually be demolished and replaced with an open-air district modeled after developments such as Mizner Park in Boca Raton, CityPlace in West Palm Beach and Abacoa in Jupiter.
The final build out would result in 760 residential units, an amphitheater, and tree lined sidewalks, with half of the existing commercial space. (Treasure Coast Regional Planning Council)
The plan envisions as many as 760 residential units, including apartments and mixed-use residential buildings, along with outdoor dining areas, pedestrian promenades, a central lawn, an amphitheater and expanded entertainment options.
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One redevelopment phase would replace Macy’s with additional housing and a large public amphitheater terminating a central green space. Other portions of the mall, including Dillard’s, JCPenney, Regal Cinemas and the new Elev8 Fun entertainment center, could remain integrated into the redesigned property during portions of the phased buildout.
The study notes Treasure Coast Square has struggled with declining value and changing consumer habits facing malls nationwide. The property’s taxable value fell nearly 21% between 2017 and 2022, according to the report.
Read the full report below
Current plans would significantly reduce the mall’s commercial footprint. The site now contains more than 1 million square feet of retail space, but the full redevelopment concept would cut that to roughly 517,000 square feet while introducing residential and public gathering areas.
The report also highlights evolving development pressures in Martin County, including growing housing demand and Florida’s Live Local Act, which encourages affordable and workforce housing development on commercial properties.
County planners said the concept is intended to help Martin County prepare for the long-term future of the site as shopping malls continue evolving nationwide. The proposal is still conceptual, and no formal redevelopment application has been submitted.
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Any future project involving residential development would require major zoning and land-use changes because the property is currently designated for commercial use only. Martin County commissioners would ultimately have to approve any redevelopment plan.
The plan comes as redevelopment work begins to transform the Indian River Mall in Vero Beach into a 250,000-square-foot outdoor retail hub.