Shopping Center Business

JUN 2018

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

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ECONOMIC DEVELOPMENT 34 • SHOPPING CENTER BUSINESS • June 2018 former Orlando Centroplex site will deliv- er 900,000 square feet to 1 million square feet of office and creative space; 1,200 to 1,500 residential units; 150 to 200 hotel rooms; 125,000 square feet to 150,000 square feet of retail; and 300,000 square feet to 500,000 square feet of higher ed- ucation space. The University of Central Florida and Valencia College will open their downtown campuses at Creative Vil- lage in August 2019 with 7,700 students. Other major projects currently in devel- opment around Orlando include Church Street Plaza, Sports Entertainment Dis- trict and Novel Lucerne. "Living down- town is in demand," Allen says. "We see more opportunities for retail/mixed-use projects." LONG ON INCENTIVES IN LONG BEACH Boasting a bustling port, popular attrac- tions and billions invested in real estate in recent years, the Economic Development Department of Long Beach, California, is hard at work keeping the city on track for positive, conscientious growth. The agency's priorities include: strengthen- ing established industry and nurturing emerging sectors; increasing access to economic opportunities in low-income communities; creating reliable pathways for entrepreneurs; and streamlining city processes to grow investment and devel- opment in the city. Grow it has. The department lists at least 10 projects that are currently in prog- ress. One exciting development promises to be a strong national and regional draw for the city. The British liner RMS Queen Mary, launched in 1936, has been docked in Long Beach since retiring from service in 1967. Today, the ship is anchoring a $250 million waterfront project led by developer Urban Commons called Queen Mary Island. The project will include a 2,400-foot-long boardwalk with cafes, bars and eclectic retail as well as a 200- room hotel. Businesses like Long Beach for its blend "Our retail history is authentic, having grown up with the city of Long Beach to meet community needs. The diversity of our neighborhoods provides a wealth of retail spaces for new businesses as well as spaces for existing businesses to open second locations," -Kristine Gaa, City of Long Beach LIFESTYLE. ROOFTOPS. CUSTOMERS Time to call Erie, Colorado home for business. Just 30 minutes north of Denver, 20 Minutes east of Boulder and 25 minutes from Denver International Airport, Erie is a fast-growing and award- winning community. With over 8,500 built residential units and over 7,000 more units at various stages of development, Erie is quickly becoming known as the best place to raise a family! Our young, affluent and educated demographic represent the lifestyle, rooftops and customers we think are great for business. Erie's residents boast a median household income of over $112,000. Even better, the average household expenditure in the Erie Trade Area is over $80,000. And best of all, Erie's robust new home construction means your customer base continues to grow! A 125,000 square foot King Soopers Marketplace opened in November 2016 in southeast Erie. In addition to the Marketplace, Chuck and Don's Pet Supply, Rooster's Men's Grooming and FirstBank have opened in the center. McDonald's and Pacific Dental Services have plans to open later in 2018 along with Sonic, Taco Bell, Sherwin Williams and others are set to make announcements for projects on the adjacent 17 acres to the west. The Town of Erie is partnering with Evergreen Devco, Inc. to develop "Nine Mile Corner" on Highway 287 and Arapahoe Road. This 45 acre mixed-use project will host two anchors, commercial pad sites and inline retail units and will have approximately 300 multi-family units directly to the east of the retail center. Foundry Builders Inc. is developing 13 acres of a 47 acre mixed-use project for retail and office tenants at the center of Town at an intersection known as "Four Corners". This center will accommodate the type of neighborhood retail customers have been craving for years, and with Boulder Community Health adding a new two story medical office in the heart of Town, we continue to add to our growing day time traffic. At I-25 and Erie Parkway the Town of Erie is taking steps to masterplan over 1,200 acres of prime commercial real estate for retail, entertainment and employment opportunity development . Centrally located between Denver, Boulder, Fort Collins and Denver International Airport, this will be a vibrant, sustainable, urban development attractive to many retailers. Opportunity is what is causing retailers to keep a close eye on Erie. Erie has a lot to offer – and the market continues to react positively. • 303.926.2769 CONTACT US

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