Westgate Mall is set to be demolished ahead of a major mixed-use development in Madison.

The longtime Madison mall on the city’s west side will first be purchased by Madison real estate company JT Klein from grocery store Hy-Vee, the current owner of the mall, according to its president Jacob T. Klein. Klein and Hy-Vee agreed to make the transaction in the near future.

Klein says he plans to demolish the mall to make way for a major mixed-use development featuring housing, some retail and possibly office or medical space.

"It's not every day that you can acquire nine acres of land like that," Klein said. "We’re really excited that we have a large canvas to work with."

A new name for the development has not been chosen. Hy-Vee will stay at its current location.

This comes a day after

announced it is shuttering its store for good because it failed to renew its lease with Hy-Vee.