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The "dead" University Mall


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I was disappointed. If you really look at it we're not talking about buildings with multiple uses, we're talking about a couple of mid-rise residential towers, some medical office space and a Target thrown in the back for good measure. In total it would have 150k SF of retail except the Target, which ain't much. That would be like calling Park Plaza mixed use because it has houses behind it one side and a school and office building behind it. They're separate components, not genuine mixed use the way say First Security Center is.

I'm no architect but to me it looks very generic, it reminds me of something in the Dallas or Atlanta burbs.

As much hype as there was about parking decks in the press release, I see a sea of asphalt on the drawing. There was a single parking deck, which I'm assuming is for the office space.

Reading between the lines abit, Target might be resistant to Simon's push for a multilevel store there and that's being negotiated.

Costco is interested in Little Rock somehow. I don't see them at this site but could see them elsewhere, though.

I like the idea of the fitness center and bookstore there but what happened to the cinema?

This project will define the Midtown area, it's the only large tract of developable land available in the area. I just don't see this as something that will define the area. What's Simon's real risk here? There's no risk in the medical office space, which will be all preleased and SVI would build anyway. Target is also zero risk. The only risk I see is the speculative condo building, which albeit a bit risky is something I could do without as it would only compete with downtown projects. I'd prefer apts/lofts built over ground floor retail extensively thoughout the whole project. It's good enough for Charlotte, Ft Myers, and Austin but when it comes to Little Rock they make it look like an office park.

I hope the owners don't help Simon a bit, they'd do better than this on their own.

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I was disappointed. If you really look at it we're not talking about buildings with multiple uses, we're talking about a couple of mid-rise residential towers, some medical office space and a Target thrown in the back for good measure. In total it would have 150k SF of retail except the Target, which ain't much. That would be like calling Park Plaza mixed use because it has houses behind it one side and a school and office building behind it. They're separate components, not genuine mixed use the way say First Security Center is.

I'm no architect but to me it looks very generic, it reminds me of something in the Dallas or Atlanta burbs.

As much hype as there was about parking decks in the press release, I see a sea of asphalt on the drawing. There was a single parking deck, which I'm assuming is for the office space.

Reading between the lines abit, Target might be resistant to Simon's push for a multilevel store there and that's being negotiated.

Costco is interested in Little Rock somehow. I don't see them at this site but could see them elsewhere, though.

I like the idea of the fitness center and bookstore there but what happened to the cinema?

This project will define the Midtown area, it's the only large tract of developable land available in the area. I just don't see this as something that will define the area. What's Simon's real risk here? There's no risk in the medical office space, which will be all preleased and SVI would build anyway. Target is also zero risk. The only risk I see is the speculative condo building, which albeit a bit risky is something I could do without as it would only compete with downtown projects. I'd prefer apts/lofts built over ground floor retail extensively thoughout the whole project. It's good enough for Charlotte, Ft Myers, and Austin but when it comes to Little Rock they make it look like an office park.

I hope the owners don't help Simon a bit, they'd do better than this on their own.

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Check the rendering again. There are at least two decks. One behind the Med. office building and the other behind the two residential towers. Also, you did not mention the number of restaurants to be located in the development. As for a cinema I think it is not that important. Most cinema projects do not have a long life span. What I would like to see is a transit feature added to the project. Something that would run North/South on University to UARL. Connect it to an East/West extension to UAMS with future plans to connect it to downtown.
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I'm disappointed that there is less of a retail component in this development. Possibly a Target or Costco and few other retailers and a few restaurants on the outparcels. I agree with Apork in that any residential should be built on upper levels of retail instead of having a seperate tower.

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I'm disappointed that there is less of a retail component in this development. Possibly a Target or Costco and few other retailers and a few restaurants on the outparcels. I agree with Apork in that any residential should be built on upper levels of retail instead of having a seperate tower.
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  • 1 month later...

It's been quiet for more than a month but apparently there has been more going on.

Simon made an offer to purchase the property from the owners in mid-December. There's been no response from the owners. It's frustrating to some degree that Simon made an offer to buy out the lease and leave the property a few months ago and now they made an offer to purchase the property and neither has garnered a response or couteroffer.

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It's been quiet for more than a month but apparently there has been more going on.

Simon made an offer to purchase the property from the owners in mid-December. There's been no response from the owners. It's frustrating to some degree that Simon made an offer to buy out the lease and leave the property a few months ago and now they made an offer to purchase the property and neither has garnered a response or couteroffer.

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Simon's proposals are components of a public relations campaign. Unless I missed something, the judge has not yet ruled in the lawsuit between the landowners and Simon. The last update I heard on the lawsuit was that Simon had asked for and received permission to depose Porter Brownlee about his independent report for the judge. Prior to that, Brownlee's report confirmed a substantial amount of the landowner's case.

Simon's PR efforts are damage control. They are a sincere attempt to avoid being on the losing end of a lawsuit to the tune of several million dollars and a much bigger PR problem. It seems to me that the landowners are confident with their case; therefore, I doubt a PR campaign is going to help Simon. I also don't think the PR campaign is working. Consider what the Park Plaza owners were able to do with public sentiment during the Summit Mall soap opera. The contrast is huge. Right now, that same sentiment is just not in LR. I think the landowners are going to resist whatever public pressure that Simon is able to garner.

I am not optimistic that any work will begin on the site until the dispute is resolved. If/when the judge rules, the lawsuit will go to appeal. Predicting redevelopment start dates is futile.

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  • 3 weeks later...
  • 4 weeks later...

St. Vincent Breaks Ground on $46 Million Expansion

http://arkansasbusiness.com/article.aspx?a...55.55852.109600

"Construction will "change the face" of St. Vincent on University Avenue with a four-level, glass-bay structure immediately south of Markham Street."

With all that glass, St. Vincent will become the skybox for the Simon Properties vs Patterson Family fight. And, as Apork points out, with all that action, St. Vincent should consider leasing window space to pay for the expansion. :rofl:

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St. Vincent Breaks Ground on $46 Million Expansion

http://arkansasbusiness.com/article.aspx?a...55.55852.109600

"Construction will "change the face" of St. Vincent on University Avenue with a four-level, glass-bay structure immediately south of Markham Street."

With all that glass, St. Vincent will become the skybox for the Simon Properties vs Patterson Family fight.

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I'd love to see a development like this at the current UM location. I know something similar has been discussed, but it doesn't appear to be on this level.

http://shopthegateway.com/

gateway-utah.jpg

I was at this shopping center in December. Great mix of Retail, Restaurant, Condo/Apt, Hotel, and a movie cinema. This one was actually in downtown SLC. That may not be practical for LR yet, but still a cool location that added a lot to their downtown development.

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I'd love to see a development like this at the current UM location. I know something similar has been discussed, but it doesn't appear to be on this level.

http://shopthegateway.com/

gateway-utah.jpg

I was at this shopping center in December. Great mix of Retail, Restaurant, Condo/Apt, Hotel, and a movie cinema. This one was actually in downtown SLC. That may not be practical for LR yet, but still a cool location that added a lot to their downtown development.

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I am glad you posted this. I dig it. It is a great model for the ideal redevelopment of the SE quadrant of the University & Markham intersection. If there were only a developer with the cajoones to do it in LR.

My guess is that the Gateway had quite a bit more square footage to build on. I lived in Salt Lake 96-98. The city blocks are generally larger than Little Rock's city blocks. That is a very well thought-out city in my opinion. The streets were originally designed wide enough to allow a horse and buggy to make a U-Turn without having to circle the block.

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