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QuoteLion's Gate plan is on track
By DIANA MIDDLETON -- The Times-Union,
The Times-Union
In April, it was announced that yet another shopping center would join the bustling St. Johns hub near I-95 and International Golf Parkway near the World Golf Village. Now, new details have eked out about the Weingarten Realty and Steinemann & Co. retail collaboration dubbed Lion's Gate. Last week, executives from both development companies privately met to hammer out the shopping center's progress. The Times-Union spoke about the development with developers Duke Steinemann and Michael Cills, and Lynn Dehlinger, Weingarten's regional director of new development. Check out what's new:
What is Lion's Gate?
It's a hybrid center that will have one dominant anchor tenant with several junior tenants as well as "outparcels," or pockets of smaller, high-end lifestyle shops. The 700,000 square feet of retail (compared with the 1.05 million square feet at the St. Johns Town Center) will face a 25-acre lake, which will be lined with an outdoor pavilion and restaurants. Lion's Gate will be the cornerstone of the World Commerce Center, a 966-acre development that is already home to Ring Power's headquarters. Also planned for the site: 200 hotel rooms, 300,000 square feet of office space - and, if the housing market improves, a residential component.
Which tenants will be included in the lineup?
While the developers were tight-lipped about the retailers' names, Weingarten's Dehlinger says they have received several letters of intent from interested retailers. She also offered up some hints about the future tenant mix: "We are approaching the usual stable of retailers we have used in the past," she said. (Weingarten has many centers that include Target, for example.) There will be a mix of restaurants from lakeside sit-down steak and seafood places to quick service joints (such as Chili's), she said. And "definitely" expect fast food such as McDonald's. They are also in talks with Starbucks. Official names will be released when the center breaks ground.
How close to construction is the shopping center?
Upon final approval of building permits, construction will begin by the first quarter of 2008. The process has been quicker than most, according to Steinemann, because the property was already zoned when the project was conceived. The development's regional impact report has also been approved. Construction has already begun for St. Johns Parkway, a roadway that will run through the property and parallel I-95. Now, the minutiae must be approved, from the look of freeway-side signs to routes for emergency workers. "Each committee looks over the plans, and if there's one little problem, we have to fix it before we proceed," Cills said.
How much will it cost, and when will it open?
The estimated cost for the retail project is $200 million, according to Steinemann. The mall is tentatively expected to open by late 2009 or early 2010.
This story can be found on Jacksonville.com at http://www.jacksonville.com/tu-online/stories/092807/bus_203478696.shtml.
One dominant anchor tenant? Wal Mart?
Not just Wal-Mart, but RING POWER!
A CAT in every garage! Got to love this stuff...
Ocklawaha
Dirt is being trucked in like crazy and road infrastructure is starting to take shape out there. Looks like everything could be on track to see a completed project as scheduled.
I hope they make interchange improvements before construction is complete.
There aren't any planned yet, that I'm aware of. There shouldn't be too many improvements necessary for quite a while though, other than 2 laning some of the on and off ramps.
I was thinking of a light going up on the exit off 95.
That'll likely happen.
Here are a couple snapshots of the site. Looks like landscaping is starting to go in along the new roadway.
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Well, the roadway I snapped picks of is not for the Lion's Gate development. It looks like it is for access to outparcels.
Here are a couple shots of the real Lion's Gate Development...
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Just site work for now but when the buildings start to rise I'll get some more snapshots.
The Esplanade has been delayed because of the slowing market. If Lion's Gate moves forward as scheduled it may give them the upper hand on the race for tenants.
The site work is moving ahead full steam from what I can tell. There have been all kinds of heavy equipment turning dirt for months now.
They are just moving dirt around. I do not think anyone has closed on the property yet.
Economy is in the tank and both Lions Gate and Esplanade are chasing the same tenants for now. Many retailers are probably going to wait out this cycle before really commiting to either project.
If I had to guess, I would say mall type retailers will flock to Ben Crater's Esplanade. Lions Gate will probably be be a magnet for Big boxes like Wal-Mart.
Thre is a lot of work going on now. Yes, lots of dirt being moved around, but when I spoke with a realtor friend of mine, he said they had to do the plumbing part first before moving on, and that is what it looks like is going on. There has been a significant increase in machinery in the last few weeks, so it looks like something is happening.
^ You're right. Utilities have been going in (sewer, water, power, telecomm) and it looks like we'll start to see some roadways shape up in the next few weeks.
Duke was smart to delay. During hard economic times. pulling your horns in is the best strategy.