The Boulevard Mall is going up for auction this spring, according to Amherst officials.
The mall's previous owner defaulted on a $92 million loan two years ago.
The town hopes to get the Niagara Falls Boulevard building into the hands of a developer who can turn it into a mixed-use site for young professionals and students.
"We think its a real opportunity because of the setting, tradition of where boulevard mall sits, equidistant to the two university campuses. So for us, this is a great opportunity to expand the town into a different sort of housing product and retail product that we offer anywhere else," said Amherst Town Supervisor Brian Kulpa.
The auction will take place in April or May.