WAUWATOSA, Wis. (CBS 58) -- The Wauwatosa Common Council approved a mixed-use development near the site of the former Boston Store at Mayfair Mall Tuesday night, Sept. 19. 

According to Barrett Lo Visionary Development (BLVD), the $400 million project will include around 1,000 market-rate apartments and more than 12,000 square feet of retail space across multiple structures. 

A press release says it will be located on six acres of land, the majority of which is currently parking lots. 

“We’re grateful for the Common Council’s shared enthusiasm on this transformational project that will help secure the future of Mayfair Mall, by creating a new anchor destination, and increase the City of Wauwatosa’s tax base for decades to come,” said Rick Barrett, Founder of BLVD. “Our team at Barrett Lo looks forward to continued partnership with Wauwatosa as we work together to advance this project and create a new neighborhood for Wauwatosa residents to enjoy.”

BLVD says the construction will take place over 10-12 years in three phases. 

Construction on the first phase could begin in 2025.