Saks' Discount Chain to Anchor New Eagan Outlet Mall

Posted in the Minneapolis Forum

Consistent

Minneapolis, MN

#1 Jan 6, 2013
Saks' Discount Chain to Anchor New Eagan Outlet Mall

Upscale retailer Saks Fifth Avenue’s discount division will open a 28,000-square-foot anchor store at a planned outlet mall in Eagan.

by Nataleeya Boss

December 4, 2012

Saks Fifth Avenue Off 5th will anchor a new outlet mall in Eagan, which is scheduled to open in November 2014.

The developer of the planned mall—Baltimore-based Paragon Outlet Partners—said Monday that the Saks store will occupy 28,000 square feet of the 400,000-square-foot open-air shopping center, which will have roughly 100 stores. Saks Fifth Avenue Off 5th is the discount division of upscale retailer Saks Fifth Avenue and currently has only one location in Minnesota—at 655 Nicollet Mall in downtown Minneapolis.

“As we create a dominant outlet center in the Twin Cities market, the addition of Saks Fifth Avenue Off 5th represents our steadfast commitment to offer customers convenient access to a collection of the world’s most iconic brands at dramatic savings,” Paragon Outlet Partners Principal Nicholas King said in a statement.

The new mall, called Paragon Outlets Twin Cities at Eagan, will be located at the intersection of Cedar Avenue and Highway 13—less than five miles south of the Mall of America in Bloomington. According to Paragon, construction of the mall, which is expected to start next spring, will create about 400 jobs, and the mall will employ between 1,500 and 2,000 once it is open.

The Eagan City Council approved the $100 million mall in mid-November, making way for the first major outlet mall within the seven-county metro area, the Star Tribune reported last week. Albertville Premium Outlets and North Branch Outlets are on the fringes of the metro area.

“We recognize the opportunity and growth potential in the Paragon Outlets Twin Cities at Eagan,” Robert Wallstrom, president of Saks Fifth Avenue Off 5th, said in a statement.“This location will enable us to continue to deliver our distinct merchandise offerings and service to area residents and visitors in the Minneapolis-St. Paul marketplace.”

http://tcbmag.com/News/Recent-News/2012/Decem...
non-starter

Saint Paul, MN

#3 Jan 6, 2013
Consistent wrote:
Most of us in Eagan are thrilled that a development of this caliber is being built on the underutilized Cedarvale site.
Most of you in Eagan are thrilled for the opportunity to give corporate welfare to Paragon and pay more taxes to do it? Good thing for Minnesotans that this type of eminent domain land grab from one private citizen to another forcibly completed by the local government is now illegal. It only cost the citizens of Eagan $40 million, and by the time the TIF is paid off, the new mall will be dilapidated and ready for "renewal", without any of the tax money ever benefitting Eagan. Great use of eminent domain and TIF Eagan.

Eagan, come for the eminent domain, stay for the outlet mall.
non-starter

Saint Paul, MN

#5 Jan 6, 2013
Consistent wrote:
You have an unhealthy obsession with this outlet mall. Have you considered seeking mental health assistance?
You have an unhealthy obsession with replying to everyone else's postings, whether you have anything to really add or not. It is for that reason that Guinness will someday honor you for most clueless posts in a lifetime.

Congratulations, keep up the good work. Remember, if you re-read it before you hit the post comment button, and it doesn't make sense, click that post comment button.
Consistent

Minneapolis, MN

#6 Jan 6, 2013
You are obsessed with something that Eagan is strongly in favor of. And you don't even live in Eagan.

A blighted area - a nearly vacant decaying mall - will be rebuilt as a beautiful addition to the city, will add thousands of long term jobs and several hundred construction jobs, and will add to the city tax base.

Plus this will spur development on the remaining 15 or so acres and areas around the outlet mall.

This is a win-win proposition for Eagan - only a fool could fail to see this.
non-starter

Saint Paul, MN

#7 Jan 7, 2013
Consistent wrote:
You are obsessed with something that Eagan is strongly in favor of. And you don't even live in Eagan.
A blighted area - a nearly vacant decaying mall - will be rebuilt as a beautiful addition to the city, will add thousands of long term jobs and several hundred construction jobs, and will add to the city tax base.
Plus this will spur development on the remaining 15 or so acres and areas around the outlet mall.
This is a win-win proposition for Eagan - only a fool could fail to see this.
$40 million to acquire the property,$19 million more to build, operate, and run a parking ramp on 6 acres that Eagan will keep off the tax rolls for Paragon.

29 acres sold for $14.73 million, that includes $4.2 million to go towards the parking ramp that Paragon didn't want to own, operate, and be taxed on.

That leaves 10 acres of land, not 15.

The estimated property tax base increase?$84 million. The additional taxes collected? Somewhere between $1 and $1.5 million a year.

At that rate, the payback is well into the 30 year range, and that doesn't even include the interest that will be paid. I think Cedarvale was around 30 years old when Eagan decided it was dilapidated and needed to be torn down and re-developed.

Eagan may never see a dime of the increased tax revenue to use, and may have to use other general fund money to prop up the area, like Burnsville had to do with "Heart of the City".

Eagan, come for the eminent domain, stay to pay your "fair share" of the taxes to prop up the outlet mall.
Amused Slew

Seattle, WA

#8 Jan 7, 2013
ou are obsessed with something that Eagan is strongly in favor of. And you don't even live in Eagan.

A blighted area - a nearly vacant decaying mall - will be rebuilt as a beautiful addition to the city, will add thousands of long term jobs and several hundred construction jobs, and will add to the city tax base.

Plus this will spur development on the remaining 15 or so acres and areas around the outlet mall.

This is a win-win proposition for Eagan - only a fool could fail to see this.
non-starter

Saint Paul, MN

#9 Jan 7, 2013
Amused Slew wrote:
ou are obsessed with something that Eagan is strongly in favor of. And you don't even live in Eagan.
A blighted area - a nearly vacant decaying mall - will be rebuilt as a beautiful addition to the city, will add thousands of long term jobs and several hundred construction jobs, and will add to the city tax base.
Plus this will spur development on the remaining 15 or so acres and areas around the outlet mall.
This is a win-win proposition for Eagan - only a fool could fail to see this.
$40 million to acquire the property,$19 million more to build, operate, and run a parking ramp on 6 acres that Eagan will keep off the tax rolls for Paragon.

29 acres sold for $14.73 million, that includes $4.2 million to go towards the parking ramp that Paragon didn't want to own, operate, and be taxed on.

That leaves 10 acres of land, not 15.

The estimated property tax base increase?$84 million. The additional taxes collected? Somewhere between $1 and $1.5 million a year.

At that rate, the payback is well into the 30 year range, and that doesn't even include the interest that will be paid. I think Cedarvale was around 30 years old when Eagan decided it was dilapidated and needed to be torn down and re-developed.

Eagan may never see a dime of the increased tax revenue to use, and may have to use other general fund money to prop up the area, like Burnsville had to do with "Heart of the City".

Eagan, come for the eminent domain, stay to pay your "fair share" of the taxes to prop up the outlet mall.
Amused Slew

Seattle, WA

#10 Jan 7, 2013
Pretty funny how your "mind" "works"...Especially , the part that pretends to process "facts"....

You are obsessed with something that Eagan is strongly in favor of. And you don't even live in Eagan.
A blighted area - a nearly vacant decaying mall - will be rebuilt as a beautiful addition to the city, will add thousands of long term jobs and several hundred construction jobs, and will add to the city tax base.
Plus this will spur development on the remaining 15 or so acres and areas around the outlet mall.
This is a win-win proposition for Eagan - only a fool could fail to see this.
Will he get the "Guinness" World Record, too ???
Ps- Pretty lame, NUTCASE~!!!
non-starter

Saint Paul, MN

#11 Jan 7, 2013
Amused Slew wrote:
Pretty funny how your "mind" "works"...Especially , the part that pretends to process "facts"....
You are obsessed with something that Eagan is strongly in favor of. And you don't even live in Eagan.
A blighted area - a nearly vacant decaying mall - will be rebuilt as a beautiful addition to the city, will add thousands of long term jobs and several hundred construction jobs, and will add to the city tax base.
Plus this will spur development on the remaining 15 or so acres and areas around the outlet mall.
This is a win-win proposition for Eagan - only a fool could fail to see this.
Will he get the "Guinness" World Record, too ???
Ps- Pretty lame, NUTCASE~!!!
Your posts are the ones short on any substance, which is why the Guinness people will have to pick your collection, your body of work as the most meaningless and stupid in history.

Congratulations.

$40 million to acquire the property,$19 million more to build, operate, and run a parking ramp on 6 acres that Eagan will keep off the tax rolls for Paragon.

29 acres sold for $14.73 million, that includes $4.2 million to go towards the parking ramp that Paragon didn't want to own, operate, and be taxed on.

That leaves 10 acres of land, not 15.

The estimated property tax base increase?$84 million. The additional taxes collected? Somewhere between $1 and $1.5 million a year.

At that rate, the payback is well into the 30 year range, and that doesn't even include the interest that will be paid. I think Cedarvale was around 30 years old when Eagan decided it was dilapidated and needed to be torn down and re-developed.

Eagan may never see a dime of the increased tax revenue to use, and may have to use other general fund money to prop up the area, like Burnsville had to do with "Heart of the City".

Eagan, come for the eminent domain, stay to pay your "fair share" of the taxes to prop up the outlet mall.
Amused Slew

Seattle, WA

#12 Jan 7, 2013
My posts TAUGHT you to spell Guinness, loser.

Pretty funny how your "mind" "works"...Especially , the part that pretends to process "facts"....

You are obsessed with something that Eagan is strongly in favor of. And you don't even live in Eagan.
A blighted area - a nearly vacant decaying mall - will be rebuilt as a beautiful addition to the city, will add thousands of long term jobs and several hundred construction jobs, and will add to the city tax base.
Plus this will spur development on the remaining 15 or so acres and areas around the outlet mall.
This is a win-win proposition for Eagan - only a fool could fail to see this.
Will he get the "Guinness" World Record, too ???
Ps- Pretty lame, NUTCASE~!!!
non-starter

Saint Paul, MN

#13 Jan 7, 2013
Amused Slew wrote:
My posts TAUGHT you to spell Guinness, loser.
Pretty funny how your "mind" "works"...Especially , the part that pretends to process "facts"....
You are obsessed with something that Eagan is strongly in favor of. And you don't even live in Eagan.
A blighted area - a nearly vacant decaying mall - will be rebuilt as a beautiful addition to the city, will add thousands of long term jobs and several hundred construction jobs, and will add to the city tax base.
Plus this will spur development on the remaining 15 or so acres and areas around the outlet mall.
This is a win-win proposition for Eagan - only a fool could fail to see this.
Will he get the "Guinness" World Record, too ???
Ps- Pretty lame, NUTCASE~!!!
And yet you can't comprehend that 45 - 29 - 6 = 10, not 15. Maybe you should start on some remedial math classes, no wonder you think you get 80% returns on stocks..........you probably just get 80% of your original investments back.
Amused Slew

Seattle, WA

#14 Jan 7, 2013
15 or so, son..

Words have meaning, they don't NEED your twist.

Try less Guinness...
non-starter

Saint Paul, MN

#15 Jan 7, 2013
Amused Slew wrote:
15 or so, son..
Words have meaning, they don't NEED your twist.
Try less Guinness...
That is just it, words do have meanings. 15 acres is 50% more than 10 acres, but hey, for a guy that claims 80% returns every other day, it explains a lot. Now run off and find a new mover on the Dow Jones to claim you bought six months ago for a pittance.
Amused Slew

Seattle, WA

#16 Jan 7, 2013
http://www.cityofeagan.com/live/ (S(w40za455gkbtrn45egan2sn2))/ news.aspx?cid=38588&id=496 66&AspxAutoDetectCookieSup port=1

LOOKS FANTASTIC !!! LMAOROTFu~!
Bridgework

Lincoln, NE

#18 Jan 7, 2013
Consistent wrote:
You have an unhealthy obsession with this outlet mall. Have you considered seeking mental health assistance?
So says the person who started this thread about the outlet mall?
Amused Slew

Seattle, WA

#20 Jan 7, 2013
In your "mini-mind" the jobs, shopping, and increased quality of life have no value....

SUCKS to be you.

Nobody else matters, to your moron "mind"...

Poor pair of liars...

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