Milwaukee real estate group pending purchase of Northridge Mall property

NOW: Milwaukee real estate group pending purchase of Northridge Mall property


MILWAUKEE (CBS 58) -- A Milwaukee-based real estate group signed a purchase agreement for Northridge Mall Thursday afternoon, a surprising and last-minute move ahead of Friday's court hearing said Judge Sosnay.

The sealed purchase agreement is from Phoenix Investors LLC, a company that redevelops dilapidated properties.

Friday's conversation was supposed to be about the city's request for ownership over the mall; Judge Sosnay delayed the ruling.

The judge suggested Phoenix Investors and the city talk over the purchase agreement and raze order.

"To the city, I'm encouraging you to be receptive, you might as well see what they propose," said Sosnay.

City Attorney Odalo Ohiku said the move was a delay tactic.

Nick DeSiato, chief of staff for the City of Milwaukee, said he backs anything that will help the city thrive.

"We're just finding out about this agreement from yesterday, and while of course we want to have development in this community, it needs to be the right development for this community," said DeSiato.

The owners of Black Spruce Enterprises did not appear in court. The company's attorney said his client could not attend for lack of childcare during spring break. The owner lives in Canada.

The judge issued Black Spruce a new fine of $1,000 against the directors which will accumulate daily until they comply with orders. They were also issued another lien for over $200,000 at the city's request. 

The next expected court date is March 14.

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