ICCF Wealthy and Division Mixed-Use Project

[GRDadof3 2737]

ICCF unveiled their newly refined vision for Division and Wealthy, featuring over 200,000 square feet of new construction between Division and Jefferson. They're apparently getting very close to signing with a major retail tenant. If they do that, it goes a long way toward making this a reality. This is also where a proposed BRT stop would land.

The corner of Division and Wealthy would be in the upper right hand corner.

More here at Chris Knape's blog.

[jbr12 1]

That entire corner is definitely going to be dramatically different in the next few years! The 'inner core' parking arrangement is rather nice!

[yankee_farmer 0]

Excellent!

[AlexPKeaton 1]

It says that rendering is "preliminary," so does that mean it's meant to show the massing and arrangement of buildings only, or should we expect the style to be similar as well?

[ArsEcclesiae 0]

LOVE IT!!!

Hope it all works out!

[GR_Urbanist 560]

<- these are tears of joy if the ICCF does this. I've always seen that area as a pedestal waiting for a monument.

And please include a grocery...PLEASE!!!!!!

...Oh and make the grocery store one that sells food that the majority of people can buy, not some hippy-dippy Harvest Health type of place

[GR Jackson 2]

Very ambitious. I hope it comes through.

[GRDadof3 2737]

<- these are tears of joy if the ICCF does this. I've always seen that area as a pedestal waiting for a monument.

And please include a grocery...PLEASE!!!!!!

...Oh and make the grocery store one that sells food that the majority of people can buy, not some hippy-dippy Harvest Health type of place

I think a large full service grocery store would be PERFECT for this location. Talk about creating an anchor for a revitalized South Division retail corridor! The issue that might come up though is the urban format that they are proposing here. D&W has never done it before. Meijer has never done it before. Not saying that that's who they are talking to, but it would make sense.

[Veloise 46]

I think a large full service grocery store would be PERFECT for this location. Talk about creating an anchor for a revitalized South Division retail corridor! ... Meijer ... Not saying that that's who they are talking to, but it would make sense.

Earmuffs, underwear, and a food oasis.

[d8alterego 1]

I love it. I think that it will be a great development and catalyst for that area. Although is this the only project or are there rumors of another? A certain Star Wars scene just popped into my head.

So we have 2 projects. Both sound exciting. I hope we will be hearing more soon.

I am glad they are in two very different-feeling parts of the city.

[fotoman311 50]

This is great news. We would most definitely shop there.

From Chris Knape:

and retail shops that help negate the need for a trek to the suburbs.

This is what gets me most excited.

I wonder what, if any, effect a full service grocery in this location would have on the planned D&W at Michigan & Fuller. Could they possibly feed off of each other and bring more residents into the downtown core? Or would one draw customers from the other. They aren't particularly close, so I think they could both be supported. That is, if Spartan ever actually does anything with what is becoming an empty eyesore on Michigan and Fuller. At the same time, I understand that building is not easy right now.

Question for anyone. Is the slow construction market forcing competing contractors into bidding wars, possibly lowering costs some? I don't know if this is how it works in reality, or not.

[MiGuyz 3]

I think a large full service grocery store would be PERFECT for this location. Talk about creating an anchor for a revitalized South Division retail corridor! The issue that might come up though is the urban format that they are proposing here. D&W has never done it before. Meijer has never done it before. Not saying that that's who they are talking to, but it would make sense.

Trader Joes would be more along the lines of what I'd expect for one of the retails spots.

[GRDadof3 2737]

Trader Joes would be more along the lines of what I'd expect for one of the retails spots.

Kind of like Whole Foods, it seems like it's just a matter of time before they set up here. There are now 6 in Southeast Michigan.

http://maps.google.com/maps/ms?ie=UTF8&amp...dba4c2f&z=9

Geez. If Northville can get one.

And Trader Joe's seems to like mixed use developments. Throw in a CVS and they'd have a hit.

[metrogrkid 34]

I think a large full service grocery store would be PERFECT for this location. Talk about creating an anchor for a revitalized South Division retail corridor! The issue that might come up though is the urban format that they are proposing here. D&W has never done it before. Meijer has never done it before. Not saying that that's who they are talking to, but it would make sense.

For success in that format out of the gate, get the masters in here: DOMINICK'S! They have urban formatted grocery stores all over Chicagoland.

[GRDadof3 2737]

More info on this project. They hope to start in 09 if one of the national retail clients they are working with signs on:

http://www.mlive.com/grpress/business/inde..._federatio.html

The $30 Million Phase I of the project will be heavily reliant on Federal New Market Tax Credits.

[mpchicago 294]

Are there any thoughts on who this national retailer would be? I would suspect Wal-Mart, maybe Target?

[GRDadof3 2737]

Are there any thoughts on who this national retailer would be? I would suspect Wal-Mart, maybe Target?

No, I can't imagine a big box like that going in there. It'd take up a huge chunk of the property. Even an urban designed Target is bigger than what they are showing in the preliminary plans.

[fotoman311 50]

No, I can't imagine a big box like that going in there. It'd take up a huge chunk of the property. Even an urban designed Target is bigger than what they are showing in the preliminary plans.

Plus, Target, like many retailers, is having some issues and tightening up their expansion plans (see below). Of course, they're still spending $3B on capital costs, much of which I would think is new construction. But, it is a reduction.

From WSJ a couple of days ago ( http://online.wsj.com/article/SB122693034399333201.html ):

Target Corp. posted its fourth consecutive quarterly slide in profit, which fell 24% as strapped shoppers were unswayed by the retailer's pitches for fashionable apparel and home goods.

Adding to the bleed on the company's earnings: more customers are defaulting on their Target credit-card bills. Bad-debt expense more than doubled to $314 million from a year earlier.

In another effort to preserve cash as the nation's economic outlook darkens, Minneapolis-based Target said it is reining in store openings for 2010, a move that will reduce its 2009 capital spending to $3 billion from $4 billion. The discount retailer also suspended ...

[GR_Urbanist 560]

It has got to be a grocery or a place with a significant food section. Anything else would be a joke.

[snoogit 0]

Now THIS is exciting! It would completely change the perception this area has now if it were to go through. It looks like it'll have quite a large residential footprint as well yes?

[Quercus 58]

With a grocery store this close to downtown, I know a number of people who would instantly begin the search for an apartment or condo in close proximity.

[yankee_farmer 0]

With a grocery store this close to downtown, I know a number of people who would instantly begin the search for an apartment or condo in close proximity.

I think beyond searching for apartments and condos, this would also jumpstart some restoration and "fixing-up" of some residential properties in the area, too.

[mpchicago 294]

So if it's not Wal-mart or Target, and it can't be big box due to size, but it's still a national retailer are we talking Kroger, Aldi? Can't see them putting a Whole Foods there in lieu of Orchard Hills.

[GRapcity 0]

It has got to be a grocery or a place with a significant food section. Anything else would be a joke.

I agree. Division/Wealthy has a ton of commuter traffic allowing everyone who lives downtown a route to 131 that doesn't require driving through downtown. In many cases I travel past there to go to Meijer on Alpine or even the Beltline. If we didn't see the downtown grocery store or even the drug store that people have been begging for then people would keep driving past that intersection to go get what they shouldn't have to drive several miles for.

[GRDadof3 2737]

So if it's not Wal-mart or Target, and it can't be big box due to size, but it's still a national retailer are we talking Kroger, Aldi? Can't see them putting a Whole Foods there in lieu of Orchard Hills.

Could be a national pharmacy paired with a Trader Joe's or D&W.