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group of investors led by Kenneth Schuckman has proposed a major redevelopment for the Shops on Broadway mall in Hicksville, Long Island. The plan includes adding a BJ's Wholesale Club and a three-story building for restaurants to the site. The investors, who purchased the majority of the mall from UBS Group AG for $40 million in February, submitted their plans to the town of Oyster Bay on Monday.

    The redevelopment would involve demolishing a vacant 300,000-square-foot Macy's building and other adjacent retailers, replacing them with parking. A new BJ's Wholesale Club would be built as a freestanding structure with a gas station and electric vehicle charging stations. The club would join the existing Round1 bowling alley, Target, and Ikea in the mall.

    The investors also plan to convert the mall's common corridors into open-air space and establish an entertainment wing called The District, which would house the Round1 bowling alley and potentially a downsized movie theater. A 70,000-square-foot building for restaurants is also planned. The ownership group is in talks with other theater operators to take over the space currently occupied by Showcase Cinemas.

    The mall has struggled with low occupancy rates due to the pandemic and the closure of anchor tenant Macy's in early 2020. However, it still retains significant assets such as Ikea and Target, which own their buildings within the mall. According to Scott Burman, founder of Burman Real Estate, "It's a superb location... right in the heart of Nassau County with incredible surrounding demographics."