Shopping Center Business

MAY 2018

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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Page 194 of 270

CELEBRATION POINTE 190 • SHOPPING CENTER BUSINESS • May 2018 this school year. University of Florida stu- dents alone spend $790 million annually in Gainesville and have a clothing expen- diture of $42 million per year. In addition to the student population, the university has its share of annual vis- itors. This group of five million people spend $233 million in Gainesville every year. And Millennials, the top group for apparel spending and outlet shopping na- tionally, have $600 billion in purchasing power in the United States and account for about one third of the total national population. Gainesville is home to 48 percent more Millennials than cities of similar size. The project's visibility, via a striking five- lane, multimodal bridge over Interstate 75, sees 114,000 cars per day. Celebration Pointe is the only large-scale development in Alachua County featuring almost one mile of frontage along Interstate 75. Svein Dyrkolbotn of Viking Compa- nies and RaCo are leading the develop- ment on behalf of the owner, Celebration Pointe Holdings, where Dyrkolbotn is a principal. Dyrkolbotn, a former exchange student from Norway and a UF graduate, worked alongside the county to flesh out the concept of Celebration Pointe. According to Viking Companies, Alach- ua County has some of the most stringent environmental protections and toughest land development regulations in Florida. This has resulted in slower overall growth. Celebration Pointe is the first large-scale project approved in the area since the planned community of Haile Plantation was constructed about 30 years ago. With a project of this size and densi- ty, Celebration Pointe's team prioritized mindful development that's supportive of the health of residents and visitors and is as gentle with its environmental impact as possible. The project sits alongside a 700-acre conservation area and the popular Archer Braid hiking and biking trail. The devel- opment team plans to add another 100 acres to the conservation area. Celebra- tion Pointe is developing for LEED-ND (neighborhood development) site certifi- cation in keeping with national guidelines for community sustainability. Transportation and ease of access are defining qualities of Celebration Pointe. Bike lanes increase safety for cyclists and promote healthy alternatives to driving, while an internal bus system and transit station will decrease traffic pressure on Archer Road. "A lot of people are really excited about Celebration Pointe," says Chris Conti, Celebration Pointe's marketing manager. "People are tagging their friends on so- cial media, responding to our announce- ments of new tenant openings. I'm also handling residential sales and everyone I drive around the project is awe struck. They all say, 'I want in on this.'" SCB Real Estate Brokerage Property Management Asset Repositioning Retailer Advisory Services Representing these fine companies: Please visit our website for our property availabilities: Meet us at RECon Real Estate Convention May 20 - 23, 2018 Las Vegas Convention Center VISIT BOOTH #C1044 or contact us to schedule a meeting 908.604.6900 or

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