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After navigating through bankruptcy, as well as not one but two lawsuits, the plan for the nearly-century-old building is to construct 258 apartments while simultaneously conserving the primary tri-story tower, the outlet reports.
The plan also comprises a pool, two inside courtyards, and over 17,900 square feet of retail space along Anderson Street and Main Street, the report says.
Sears started closing stores across the country in 2018, when the company filed for Chapter 11 bankruptcy protection, DailyVoice previously reported. The Hackensack store shuttered in 2020.
“It’s an iconic building to Hackensack and we wanted a plan that understood the value of that property in relationship to the downtown,” Hackensack redevelopment consultant Francis Reiner told TheRealDeal.
Meanwhile, the former Sears auto center north of the main building will be turned into a Safelite AutoGlass shop by Transform Holdco, LLC, which obtained Sears Holdings’ assets in 2019, the outlet added.
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