Shopping Center Business

MAY 2018

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

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STADIUM RETAIL 220 • SHOPPING CENTER BUSINESS • May 2018 historic buildings dating back to the early 1900s. "We are definitely experiencing a grow- ing live/work/play environment in the city of Detroit, which is largely being driv- en by millennials and empty nesters," says Ellis. "The city and its various new devel- opments are filling a much-needed void for residents looking for a true city-living experience in Michigan." A few dining options, including Mike's Pizza Bar, Sports & Social Detroit and Kid Rock's Made in Detroit, opened in concert with Little Caesars Arena last fall. Guests do not need an event ticket to dine at the eateries and take advantage of game day-like atmospheres. Later this year, the first retailers are expected to be- gin opening on The District Detroit's Co- lumbia Street, which will be home to 10 new storefronts spanning 40,000 square feet as well as a promenade with outdoor dining space. BALLPARK VILLAGE EXPANDS In December, The St. Louis Cardi- nals and The Cordish Companies broke ground on the $260 million second phase of Ballpark Village. The 700,000-square- foot mixed-use expansion includes the construction of a 29-story, luxury resi- dential tower; a 10-story, Class A office tower; a three-story retail pavilion; and a Live! By Loews hotel. All told, the proj- ect's two phases will make for a combined 850,000-square-foot urban neighborhood upon completion in 2020. Onelife Fitness, a health and fitness club, will anchor the retail portion with a 31,000-square-foot space, which will feature a two-story glass façade. The club will be home to over $1 million of new cardio and strength equipment, large turf training areas and group fitness classes. The project is a 50/50 partnership be- tween the Cardinals and Baltimore-based Cordish. The baseball team's $411 million privately financed Busch Stadium opened in 2006. Phase I of the project, which opened in 2014, features Anheuser-Busch's first-ever venue, the Budweiser Brew House and Beer Garden. A FOX Sports Midwest Live! venue features a stage for concerts and performances, a high-definition LED screen for watching games and a 200-seat restaurant with a 100-foot long retractable glass roof. "Professional sports teams across the country are using Ballpark Village, which created a new year-round gathering place that is active both day and night, as a mod- el in enhancing the sports experience," says Cari Furman, a spokesperson for Cordish. "Sports-focused types of devel- opments are integrating sports and real estate as a single enterprise that creates innovative and trendsetting experiences for guests, and extends the teams' brands outside the walls of their stadiums and arenas." Residential demand in downtown St. Louis is strong, according to Cordish. The supply of housing continues to grow annually at close to 10 percent and units fill as fast as they're being built. One Cardinal Way, the 297-unit res- idential tower at Ballpark Village, will offer views directly into Busch Stadium. Designed by Hord Coplan Macht, the building will feature more than 25,000

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