Retail in Richmond

[joey]

Stony Point is far superior in quality, tenant mix and LOCATION (being inside the City) than Regency. I wish Regency well, but i would not have wanted an expansion of Regency instead of the construction of Stony Point.

With regard to tax dollars, I suppose it's valuable being in the City (for city residents, and arguably for the region), but Regency is far better located if you value mixed uses and general accessibility in development.

That whole Parham commercial corridor is jam-packed with neighborhood (and regional) draws and is surrounded by established residential areas. Stony Point is accessible only by expressway and is surrounded by some of the lowest density development west of the urban core. With the exception of the few offices and an apparently new apartment community adjacent to it, any other office-workers or residents have to drive a minimum of two miles just to get to it. Even the homes that back close up to Stony Point are a 5+ mile circuitous drive from the center.

On the contrary, I wish that Henrico had looked to reconfigure that Parham/Quioccasin intersection into an urban village when the cinema shut down. It has all the makings of a great new-urbanist center, including nearby affordable housing, established neighborhoods with decent road connectivity and density, three schools in walking distance, and a level of use-mixing not found in most of the County. It also seems to be entirely unencumbered by NIMBYism because the immediate surroundings are not high-income (though there are lots of high-incomes in a 3-mile radius). I think it would have been great if, instead of building Stony Point, Taubman had worked with Henrico to build a Reston Town Center styled project around Regency Square instead of the suburban mall-without-a-roof that we have now across the River.

Edited January 28, 2007 by joey

[burt]

Steven Rock, maybe you can explain to us how Metro Richmond can absorb all the retail space it has with a retail vacancy of 7.3%.

And today's RTD business page tells us that we can expect another 7.3 million s/f in a few years. (Odd that expacted square foot expansion equals the vacancy rate figure.)

I'm going to post the Times Dispatch story thru the magic of linkage, but it will probably be in a new frame below, because I don't know how to add it here (thoughI'll try.)

[burt]

Steven Rock, maybe you can explain to us how Metro Richmond can absorb all the retail space it has with a retail vacancy of 7.3%.

And today's RTD business page tells us that we can expect another 7.3 million s/f in a few years. (Odd that expacted square foot expansion equals the vacancy rate figure.)

I'm going to post the Times Dispatch story thru the magic of linkage, but it will probably be in a new frame below, because I don't know how to add it here (thoughI'll try.)

http://www.timesdispatch.com/servlet/Satel...sPN=%21business

Hey!!! I think it worked.

[burt]

A revered Jewelery name is restored in Richmond. SCHWARZSCHILD Jewelers, under new ownership, is back in business and better than ever at three locations: Short Pump Town Center, in Carytown and at Alverser Plaza in Chesterfield.

It has been bought by the highly regarded Schiffman's Jewelers of Greensboro, N. C.

[StevenRocks]

Steven Rock, maybe you can explain to us how Metro Richmond can absorb all the retail space it has with a retail vacancy of 7.3%.

Bigger stores for one thing. The average Ukrop's and Wal-Mart stores, for example, are a lot bigger than they used to be.

You also have to factor in the disappearance of a lot of old retail space that became outmoded and the growth of the suburban markets.

[BreakfastPills]

Whever I visit Stony Point, it feels more vacant than Regency. Then again, I often go during the middle of the workday.

[burt]

Coupe has posted this infor in the Ric Econ/Biz/Real Estate thread, but I thought it should be mentioned here, also.

The new Goodwill thriftshop called Second Debut at 3114 West Cary is high end, indeed. Designs by some big name couturiers like del la Renta and Donna Karan can be found in the chic new shop. Many of the childrens selections still have their original tags. But, if musically inclined, you could also purchase a trumpet or violin.

Goodwill, which has a number of locations in Metro Richmond, says it is not robbing other stores to supply the new low-lighted, carpeted Carytown shop. There's plenty of up scale material to go around.

[Shakman]

A couple of retail notes:

The location of the former Ritz (Sheppard and Patterson) is being fitted for a new tenant. Don't know who of what it is going to be.

It appears that work may be starting on the interior fit out for Blackfin (ROTJ).

What is going on with Blanc Bleau?

[wrldcoupe4]

Speaking of what's going on, what's going on with Shakman? Your updates are missed.

[burt]

Speaking of what's going on, what's going on with Shakman? Your updates are missed.

Absolutely, Coupe. I need a fix on the National soon or I may have DT's. Give old Burt an update, Shak. Aren't you still downtown?

The Ritz is right across Sheppard from Caliente, isn't it? Been there for years; in fact it was a beer bar before liquor by the drink was legalized.

At last! Some activity at Blackfinn. But somebody better get to work on Blanc Bleu or we'll sic Wilder on 'em.

More postings please, Shak.

[StevenRocks]

The new Goodwill thriftshop called Second Debut at 3114 West Cary is high end, indeed. Designs by some big name couturiers like del la Renta and Donna Karan can be found in the chic new shop. Many of the childrens selections still have their original tags. But, if musically inclined, you could also purchase a trumpet or violin.

This I gotta see. Richmond already tends to have better Goodwills than most cities, so this should be something else.

[wrldcoupe4]

haha what a great excuse for you to come check out Carytown!

[wrldcoupe4]

Looks like the new Kroger proposed for Chippenham Place (Cloverleaf Mall redevelopment project) has been increased in size from 80,000 to 100,000 sf. This will make it the largest grocery store in the Richmond market. By comparison, most of the newer Ukrop's stores are in the range of 50,000-60,000+ SF.

I wonder if we'll see a trend where Ukrop's will begin to consolidate its smaller stores into much larger ones?

[mrd3b]

The fact that Ukrop's closed their popular store on Patterson recently citing its size as the reason may be a sign of a move in that direction

[burt]

Has anyone heard how American Apparel is doing in Carytown? Isn't that the name of the shop that has sort of risque clothes for sale?

[wrldcoupe4]

It's not the clothes that are considered "risque," it's the advertising. The clothes seem to be heavily inspired by popular styles in the 70's and 80's that can still be pulled off today. They seem to do pretty well, and there are always people in there when I've been. The gf has bought a few things in there and always recommends it to people heading to an 80s themed party.

[StevenRocks]

Looks like the new Kroger proposed for Chippenham Place (Cloverleaf Mall redevelopment project) has been increased in size from 80,000 to 100,000 sf. This will make it the largest grocery store in the Richmond market.

Kroger has been going the meagstore route in my neck of the woods for a while. All the newer suburban stores have been around 80,000 square feet.

[burt]

Looks like the new Kroger proposed for Chippenham Place (Cloverleaf Mall redevelopment project) has been increased in size from 80,000 to 100,000 sf. This will make it the largest grocery store in the Richmond market. By comparison, most of the newer Ukrop's stores are in the range of 50,000-60,000+ SF.

I wonder if we'll see a trend where Ukrop's will begin to consolidate its smaller stores into much larger ones?

Coupe, several pages back (page 33, I think) is a quote from Greg Gilligan that a new Kroger in the Atlee section may be as big as 103,000 s/f.

Greg Gilligan says in today's RTD that the Wal*Mart Supercenter on Parham Road in the far West End (near Regency Square) will open January 22nd.

It will be one of the chain's seven experimental stores offering a sushi bar and expanded wine and electronics departments. Customers will be allowed to buy coffee, soft drinks and newspapers on the honor system toward the front of the store.

Carryout service to customer's cars is being considered.

At 104,000 square feet, it is about half as large as most of the chain's superstores.

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Gilligan also reports that Kroger is seriously considering a 73,000 to 103,000 s/f store in a place called Rutland Commons along US 301 near Atlee Road.

That's about half way to Hanover Court House, if my memory serves.

Here's the Gilligan piece,Coupe.

[wrldcoupe4]

I was quoting the Chesterfield Observer, which stated that the 100,000 sf store would be the largest in the region. Gilligan gave a pretty wide range of potential size for the Atlee area... perhaps they settled on something less than 103k?

[BGW]

The fact that Ukrop's closed their popular store on Patterson recently citing its size as the reason may be a sign of a move in that direction

I think the fact that there were 2 others within a couple miles was as much a reason there. The relatively new (and utterly dreadful) Stratford Hills store is quite small as their stores go, so they're not solely building megastores.

[Downtowner]

That Patterson Ukrops is like right next to my Neighborhood. Me and my Parents loved that one and were sad to see it go and I wish they would hurry up and develop that property because with nothing there right now is a bummer and I hope something takes its place.

[mrd3b]

It is a difficult size being deemed to small for a supermarket and too large for many other types of stores. I could see it being divided up into two or three smaller stores. Hopefully it dosen't stand vacant as long as the somewhat similarly sized old Farmer Jack down the street did before being redeveloped.

[Cadeho]

The one at Three Chopt and Patterson?

[mrd3b]

The one at Three Chopt and Patterson?

No Gaskins

[Cadeho]

Ah ok thanks. I'm not familiar with that one though.