Eagan makes way for outlet mall by '14

Eagan makes way for outlet mall by '14

Posted in the Minneapolis Forum

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Consistent

Minneapolis, MN

#1 Jan 6, 2013
Experts say major outlet mall wouldn't steal much business from the MOA or regional malls.

A new $100 million outlet mall with nearly 100 stores was approved last week by the Eagan City Council and could open by November 2014, becoming the first major outlet mall to be within the metro area rather than on the periphery.

Eagan officials said the city had hired an outside marketing consultant to make sure the outlet mall, proposed by Baltimore-based Paragon Outlet Partners, had a sustainable business plan. The study found that the outlet mall would be feasible based on a projected Twin Cities population increase that is expected to push retail spending in the metro area from $2.9 billion in 2014 to $3.7 billion in 2020.

"Our study showed that an outlet shopping mall draws traffic in a different way than other retail, and that it can be complementary to an unusual retail destination such as the Mall of America," Jon Hohenstein, Eagan's community development director, said in an interview Monday. The mall's location on a 29-acre tract south of the Minnesota River near Cedar Avenue and Hwy. 13 is less than 5 miles south of the Mall of America. Between now and January, Paragon must show the City Council that the plan is progressing in accordance with what was approved.

It's possible that some Mall of America stores also might be present at the outlet mall, selling different merchandise at a different price, said Tom Hedges, Eagan's city administrator.

Paragon, which did not return phone calls Monday, has not disclosed which retailers would open stores in the new outlet mall. But Eagan officials point to malls that Paragon recently opened in Texas and California, which include retailers such as Burberry, Calvin Klein, Jos. A. Bank, Wilson's Leather, Fossil and Brooks Brothers.

Retail experts interviewed Monday said a new outlet mall probably would draw no more than a few percent of customers away from the Mall of America, Southdale, Eden Prairie Center and Burnsville Center. That is not enough to cause the mall operators and their shop owners much discomfort, they said.

The proposed 441,000-square-foot Paragon development "does not represent a significant increase in retail space in the south metro area," said Jim McComb, president of Minneapolis-based McComb Group, a retail and real estate consulting firm. "So I don't see it as an important threat to any regional malls or retailers across the south metro."

Herb Tousley, director of real estate studies at the University of St. Thomas in Minneapolis, agreed.

"The outlet stores will not compete directly with the Mall of America," Tousley said. "Outlet stores draw a different kind of shopper. They will compete mainly for customers that currently go to other outlet stores" such as those in Albertville, North Branch and Medford, located beyond the metro area.

http://www.startribune.com/business/180936641...
non-starter

Saint Paul, MN

#2 Jan 6, 2013
Consistent wrote:
Experts say major outlet mall wouldn't steal much business from the MOA or regional malls.
A new $100 million outlet mall with nearly 100 stores was approved last week by the Eagan City Council and could open by November 2014, becoming the first major outlet mall to be within the metro area rather than on the periphery.
Eagan officials said the city had hired an outside marketing consultant to make sure the outlet mall, proposed by Baltimore-based Paragon Outlet Partners, had a sustainable business plan. The study found that the outlet mall would be feasible based on a projected Twin Cities population increase that is expected to push retail spending in the metro area from $2.9 billion in 2014 to $3.7 billion in 2020.
"Our study showed that an outlet shopping mall draws traffic in a different way than other retail, and that it can be complementary to an unusual retail destination such as the Mall of America," Jon Hohenstein, Eagan's community development director, said in an interview Monday. The mall's location on a 29-acre tract south of the Minnesota River near Cedar Avenue and Hwy. 13 is less than 5 miles south of the Mall of America. Between now and January, Paragon must show the City Council that the plan is progressing in accordance with what was approved.
It's possible that some Mall of America stores also might be present at the outlet mall, selling different merchandise at a different price, said Tom Hedges, Eagan's city administrator.
Paragon, which did not return phone calls Monday, has not disclosed which retailers would open stores in the new outlet mall. But Eagan officials point to malls that Paragon recently opened in Texas and California, which include retailers such as Burberry, Calvin Klein, Jos. A. Bank, Wilson's Leather, Fossil and Brooks Brothers.
Retail experts interviewed Monday said a new outlet mall probably would draw no more than a few percent of customers away from the Mall of America, Southdale, Eden Prairie Center and Burnsville Center. That is not enough to cause the mall operators and their shop owners much discomfort, they said.
The proposed 441,000-square-foot Paragon development "does not represent a significant increase in retail space in the south metro area," said Jim McComb, president of Minneapolis-based McComb Group, a retail and real estate consulting firm. "So I don't see it as an important threat to any regional malls or retailers across the south metro."
Herb Tousley, director of real estate studies at the University of St. Thomas in Minneapolis, agreed.
"The outlet stores will not compete directly with the Mall of America," Tousley said. "Outlet stores draw a different kind of shopper. They will compete mainly for customers that currently go to other outlet stores" such as those in Albertville, North Branch and Medford, located beyond the metro area.
http://www.startribune.com/business/180936641...
"It's a very big step," city administrator Tom Hedges said of the purchase agreement. "We're excited about (Paragon's) ability to develop the property -- we feel it's consistent with our long-term plans."

The purchase agreement includes $5.8 million for the land, an additional $3.5 million for the relocation of Cedar Grove Boulevard and $1.2 million to move a gas pipeline.

Paragon is also chipping in $4.2 million for a $19 million
multi-level parking ramp the city will build, own and maintain, said Gene VanOverbeke, Eagan's director of administrative services.
The city had hoped Paragon would buy an additional 6 acres for the ramp and also own it, he said, but the company had no desire to do so.

The plan is for the city to issue bonds to pay for the ramp and repay them through tax-increment financing revenue.
Phil

Minneapolis, MN

#3 Jan 6, 2013
This will be a good use of that dead spot in Eagan.
non-starter

Saint Paul, MN

#4 Jan 6, 2013
Phil wrote:
This will be a good use of that dead spot in Eagan.
Nice answer to your own post under a different name low integrity poster.
Amused Slew

Kent, WA

#6 Jan 6, 2013
non-starter wrote:
<quoted text>Nice answer to your own post under a different name low integrity poster.
Nice "accusation" without proof, typical POS liar about most everything....
non-starter

Saint Paul, MN

#7 Jan 6, 2013
Amused Slew wrote:
<quoted text>Nice "accusation" without proof, typical POS liar about most everything....
Good retort, you low integrity posters have to stick together after all......
Amused Slew

Kent, WA

#8 Jan 6, 2013
Good nothing...seems it's all you've got as your proof of anything... Tell mommy, the "big boys" are mean NEXT !

Nice "accusation" without proof, typical POS liar about most everything....
Sam Segal

Saint Paul, MN

#9 Jan 6, 2013
non-starter wrote:
<quoted text>Good retort, you low integrity posters have to stick together after all......
It's easy to stick together when you're a schizophrenic troll.
They're all the same Slewer Rat!
Amused Slew

Kent, WA

#10 Jan 6, 2013
As "right", as your election pick, pal... LMAOROTFU~!
Amused Slew

Kent, WA

#12 Jan 6, 2013
3 scared mice, NO SHOWS !!!

Three scared mice,
Three scared mice
See how they run,
See how they run!

They all ran after
Seattle Slew
He cut off their balls
With a razor wit
Did you ever see
Such a sight in your life
As three scared mice?
Amused Slew

Kent, WA

#13 Jan 6, 2013
Eagan, come for the fruit loops, stay to annoy the whiny bytches.. Who DON'T believe in quality of life, improving job prospects, or development..

So, you know nothing about improving property value and everything about spamming, right troll ???

Let me guess, if we kill jobs and development, we can blame Obama later, right ???

I see why you can't afford a home, no instant cash flow, right L-O-S-E-R ~!
non-starter

Saint Paul, MN

#14 Jan 6, 2013
Amused Slew wrote:
3 scared mice, NO SHOWS !!!
Three scared mice,
Three scared mice
See how they run,
See how they run!
They all ran after
Seattle Slew
He cut off their balls
With a razor wit
Did you ever see
Such a sight in your life
As three scared mice?
A razor wit? Oh, you mean like the little two wheeled Razor brand scooter, soft polyurethan wheels. Your intellect can't even cut through your own delusions.
non-starter

Saint Paul, MN

#15 Jan 6, 2013
Amused Slew wrote:
Eagan, come for the fruit loops, stay to annoy the whiny bytches.. Who DON'T believe in quality of life, improving job prospects, or development..
So, you know nothing about improving property value and everything about spamming, right troll ???
Let me guess, if we kill jobs and development, we can blame Obama later, right ???
I see why you can't afford a home, no instant cash flow, right L-O-S-E-R ~!
I get it now, I get it now. You are attempting to break the Guiness Book of World Records record for most stupid posts in a second, minute, hour, day, week, month, year, and decade. I think you are a shoo-in. Good luck.
Amused Slew

Kent, WA

#16 Jan 6, 2013
My intellect, can properly use commas... Let me know if you catch up, jw the hypocrite/liar.
non-starter

Saint Paul, MN

#17 Jan 6, 2013
non-starter wrote:
<quoted text>I get it now, I get it now. You are attempting to break the Guiness Book of World Records record for most stupid posts in a second, minute, hour, day, week, month, year, and decade. I think you are a shoo-in. Good luck.
You should post more under a single moniker though so you are sure to get credit for them all when the Guiness people review them.
Amused Slew

Kent, WA

#18 Jan 6, 2013
Sure, just like you, right hypocrite ??? LMAOROTFU~
Amused Slew

Kent, WA

#19 Jan 6, 2013
non-starter wrote:
<quoted text>I get it now, I get it now. You are attempting to break the Guiness Book of World Records record for most stupid posts in a second, minute, hour, day, week, month, year, and decade. I think you are a shoo-in. Good luck.
If you mean Guinness World Records, I see you're wrong, again... Good for you, at least you're establishing your legimate claim to spamming stupid posts....
non-starter

Saint Paul, MN

#21 Jan 6, 2013
Consistent wrote:
This non-starter guy is a total clown and is obsessed with the new outlet mall.
You seem to be obsessing about responding, on every thread.

Eagan, come for the eminent domain, stay for the outlet mall.
Consistent

Minneapolis, MN

#23 Jan 6, 2013
You have a mental obession with the outlet mall.

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

#24 Jan 6, 2013
Consistent wrote:
You have a mental obession with the outlet mall.
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.
You mean the remaining 10 acres, the parking ramp that Eagan is building for the developer at a cost of $15 million to the city($19 million total) is going to take up 6 acres, the developer has been sold 29 acres, so that leaves about 10 acres.

As for a beautiful addition to the city, I think you may be right, outlet malls are often on the lists of 10 most beautiful things to see before you die. Maybe after its built you can work hard and get it added to the UNESCO world heritage sites.

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