Author Topic: More shops planned near Town Center  (Read 11593 times)

thelakelander

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More shops planned near Town Center
« on: December 07, 2007, 08:58:32 AM »
Quote
by Christian Conte Staff Writer

SOUTHSIDE-- Another Atlanta developer is planning a shopping center next to the St. Johns Town Center that is expected to cost $75 million.

Pinehill Development Co. will transform 52.5 acres fronting Town Center Parkway between the town center and Costco Wholesale Corp. into 350,000 square feet of retail space called The Markets at Town Center.

"We're real excited about it," said Pinehill partner Barrett Howell Jr. "We really want it be a quality project for the area."

Although Pinehill has invested in other properties in the Jacksonville area, this is the 25-year-old real estate investment company's first development project in Florida. Pinehill invests and develops retail, office and warehouse space, primarily in Georgia.

Duval County Clerk of the Courts records show the company bought the property for about $44 million Aug. 23 under the name Pinehill Markets Operating LLC from large-scale local landowners the Skinner family.

The first phase of the 1.2 million-square-foot St. Johns Town Center, a partnership between Ben Carter Properties Inc. and Simon Property Group Inc., opened in 2005. Ben Carter Properties Chairman Ben Carter, well-known in Atlanta for numerous mall projects, said the town center is his most successful in sales per square foot. Pinehill Investments and Ben Carter Properties have worked together on retail projects in the Atlanta area.

Howell would not disclose details about prospective tenants at The Markets at Town Center beyond saying the company is negotiating with retailers. The construction timeline will be determined once tenant leases are signed. Ben Carter Properties will be the leasing agent for The Markets at Town Center.

Carter doesn't see The Markets at Town Center as competition that could harm sales or the ability to attract new retailers at St. Johns Town Center. "It's complementary," he said.

He is already planning a third phase for St. Johns Town Center expected to start construction in 2008. It could include three department stores and an additional 150,000 square feet of specialty shops.

Pinehill partner Ron Bobo said the company has been waiting for the right opportunity to develop in Jacksonville and bought the property near J. Turner Butler Boulevard and Gate Parkway partly because of its proximity to Carter's project, which he considers one of the best examples of a lifestyle center in the Southeast.

The Howell and Carter families have a long history dating back to Barrett Howell Sr. and Frank Carter, Ben Carter's father, who were friends. Howell said he has been familiar with the Jacksonville area since childhood, when he and his family started vacationing in Ponte Vedra Beach. When here, the Howell family often ran into the Carters.

Phillips Partnership PC in Atlanta is designing The Markets at Town Center and Balfour Beatty Construction in Dallas will build the project, which is expected to be completed in 2009.

Geneva Henderson, executive vice president of the commercial brokerage firm Lat Purser & Associates Inc., said the property where The Markets at Town Center will be built is a great site because of its location and demographics.

"There's an awful lot of interest in the outparcels over there."

http://jacksonville.bizjournals.com/jacksonville/stories/2007/12/10/story1.html
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gradco2004

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Re: More shops planned near Town Center
« Reply #1 on: December 10, 2007, 09:28:50 PM »
I hope we get an organic grocery store. I am crossing my fingers for a second Whole Foods location.

copperfiend

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Re: More shops planned near Town Center
« Reply #2 on: December 10, 2007, 09:38:22 PM »
This is going to help traffic, right?

Lunican

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Re: More shops planned near Town Center
« Reply #3 on: December 10, 2007, 09:53:53 PM »
So what will happen to the Southside when the "Town Center" looks like Gateway Mall? Can the SJTC decline like that or is it different in some way?

Ocklawaha

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Not like Gateway...
« Reply #4 on: December 10, 2007, 10:17:35 PM »
Come on y'all, this is the modern world... STJTC will slowly decay until it reaches the state of Regency or Gateway, then the big ticket boys will come in and slap down new plaster and paint for another 10 or 20 years. By then look for new INDOOR read that "AIRCONDITIONED" malls to pop up and replace Regency, Perhaps near River City Marketplace and the big hole in retail, the booming West Jax - Baldwin corridor. I would also think the three projects in St. Johns County and some big announcements on Flemming Island, Orange Park or even Middleburg will keep the shoppers fresh. When the malls are just too old to function, such as Roosevelt, they can be flattened into new Town-Centers, Condos or whatever the vogue is at the time. Just rest certain that whatever or where ever they are, if a bus passes nearby, they will be official TOD'S!

For myself, wife and daughters, we'd rather clone San Marco, Avondale or 5-Points 10,000 times then suffer another cookie cutter mall.


Ocklawaha

Lunican

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Re: More shops planned near Town Center
« Reply #5 on: December 10, 2007, 10:29:35 PM »
Cookie Cutter???? How can you call a place named "The Markets at Town Center" a cookie cutter mall? Sounds like a pretty unique place to me...

NJ to JAX WHAT DID I DO?

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Re: More shops planned near Town Center
« Reply #6 on: December 11, 2007, 08:41:50 AM »
I agree that this is a sad story.  All of this money could be invested into shops and mom and pop stores in San Marco, Riverside, Downtown, etc.   Such an investment would improve the quality of life and walkable livability of those neighborhoods which do give Jax its only character.  I think the SJTC is nice, but I do wish that it was in one of the historic neighborhoods. I wish the same for the "Market."  It all boils down to zoning.  The zoning department could limit development to the historic neighborhood's business areas, but alas they want to let the sprawl fest continue.  No vision.  No character.

Notice that the investor is from Atlanta.  Does he really care about Jacksonville improvement? 

JeffreyS

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Re: More shops planned near Town Center
« Reply #7 on: December 11, 2007, 09:12:50 AM »
There is going to be sprawl and suburban malls are not the worst thing in the world. They serve the people of this city, but we don't want sprawl to define us.  The urban core of Jax seems to progressing. We need to fight the BRT and encourage urban development, but people in the burbs will use these malls.
Lenny Smash

Dapperdan

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Re: More shops planned near Town Center
« Reply #8 on: December 11, 2007, 09:30:03 AM »
Just imagine if there was some sort of rail system that stopped at the beaches, the SJTC, and then back to downtown, then connected with the other rail in the area. It would be a pleasure to ride to the SJTC then and not a traffic nightmare like it is now. In reality the SJTC is a really nice place and has a small downtown feel to it. It is a place I would take out of towners to.

copperfiend

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Re: More shops planned near Town Center
« Reply #9 on: December 11, 2007, 09:43:20 AM »
So what will happen to the Southside when the "Town Center" looks like Gateway Mall? Can the SJTC decline like that or is it different in some way?

When do you really think the Town Center will "look like the Gateway Mall"?

thelakelander

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Re: More shops planned near Town Center
« Reply #10 on: December 11, 2007, 09:57:41 AM »
Gateway's darkest days were in the mid 90s, a little more than 30 years after it opened.  Regency's cycle has followed a similar path, although its still several notches above Gateway.  The same goes for Roosevelt Square, Normandy and the mall off Emerson.  They'll be linked to the rise and fall of their surroundings.  Given the nearby apartments and condos shooting up are built like crap, my guess, if our growth continues to expand outward, probably around 2037.  By then, half of the new complexes lining Gate Parkway will be in serious need of repair.
« Last Edit: December 11, 2007, 10:00:24 AM by thelakelander »
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Lunican

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Re: More shops planned near Town Center
« Reply #11 on: December 11, 2007, 10:01:16 AM »
I don't know, but the lifespan of these malls is not infinite. Just look at all the deserted malls from the 70's and 80's around town that were the St. Johns Town Centers of their day.

It just seems like the Southside revolves completely around a mall that in 20 years may be a huge blight, taking the rest of the area with it.

Lunican

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Re: More shops planned near Town Center
« Reply #12 on: December 11, 2007, 10:03:52 AM »
One difference may be that there is an expanding university right next door?

Traveller

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Re: More shops planned near Town Center
« Reply #13 on: December 11, 2007, 10:09:51 AM »
I don't know, but the lifespan of these malls is not infinite. Just look at all the deserted malls from the 70's and 80's around town that were the St. Johns Town Centers of their day.

It just seems like the Southside revolves completely around a mall that in 20 years may be a huge blight, taking the rest of the area with it.

A website you might find interesting: http://www.deadmalls.com/

comncense

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Re: More shops planned near Town Center
« Reply #14 on: December 11, 2007, 10:18:05 AM »
Not that I even care about the SJTC, but it would be a smart move to incorporate some nightlife there that's geared to students at UNF. With UNF adding on new housing in the next upcoming years, on-campus life there will be at it's peak.