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Cincinnati: $10M Tri-County Mall expansion

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From the 2/12/05 Enquirer:

 

 

For Tri-County Mall, a $15 million boost

By Ken Alltucker

Enquirer staff writer

 

A New York-based developer that acquired Springdale's Tri-County Mall for $180 million said Friday that it plans to spend another $15 million to dress up the region's second-largest mall.

 

Representatives of Thor Equities have not yet unveiled a blueprint for recharging the 1.3 million-square-foot mall anchored by Dillard's, Sears, Lazarus-Macy's and JC Penney.

 

But the mall faces added pressure from the newly renovated Cincinnati Mills in Forest Park, located just four miles and one Interstate exit away. Another setback looms if anchor JC Penney shutters its store when it opens a new stand-alone location at the $70 million Bridgewater Falls under construction in nearby Fairfield Township.

 

Thor Equities Chief Executive Joseph J. Sitt could not be reached. In a prepared statement, he said his company "is prepared to invest in this property to ensure that it lives up to its full potential as a retail center."

 

 

E-mail kalltucker@enquirer.com

 

http://news.enquirer.com/apps/pbcs.dll/article?AID=/20050212/BIZ01/502120348/1002/BIZ

 

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An update from the 3/22/05 Cincinnati Post

 

 

Under new management

Tri-County's new owner plans to spend up to $25M in renovation

By Alexander Coolidge

Post staff reporter

 

The new owner of Tri-County Mall has been known for years as a firm that specialized in ethnic and urban retail, so its $179 million acquisition in Springdale represents its biggest departure yet from its business plan.

 

Officials at New York-based Thor Equities plan to spend $15 million to $25 million to overhaul the 45-year-old mall. With the pending departure of anchor J.C. Penney at the end of the year, the developer is considering replacing it with another department store or major specialty retailer, a movie theater or a mix of retailers and restaurants, said Jeff Tulloch, Springdale's economic development director.

 

Thor CEO Joseph Sitt said the amount of investment will depend on how much assistance he gets from Hamilton County and Springdale. He said he's still working out issues with the county, particularly the mall's taxable value, which county officials have indicated they want to increase.

 

 

http://www.cincypost.com/2005/03/22/tric032205.html

 

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Here's an article from the 5/6/05 Enquirer regarding J.C. Penney's pullout from the Tri-County Mall:

 

 

J.C. Penney leaving Tri-County

Mall's new owners may subdivide anchor space

By Mike Boyer

Enquirer staff writer

 

SPRINGDALE - The new owner of Tri-County Mall said Thursday it is looking at several options to fill the space being vacated by J.C. Penney Co., one of the main anchors of the mall.

 

Penney's this week confirmed what has been widely speculated for months: It will close the 160,000 square feet Tri-County store and relocate to a 98,000-square-foot store at the Bridgewater Falls retail center at Bypass Ohio 4 and Princeton Road in Fairfield Township.

 

Quinton Crenshaw, Penney's spokesman, said the Tri-County store, which opened in 1988, will close July 30 and the new Bridgewater Falls store will open the next day.

 

Carl Reggie, marketing director for Thor Equities, which acquired the 1.3 million-square-foot Tri-County Mall in February for $180 million, said alternatives could include finding a new anchor, subdividing Penney's space among several smaller anchor-type stores or devoting it to some type of entertainment attraction.

 

 

E-mail mboyer@enquirer.com

 

http://news.enquirer.com/apps/pbcs.dll/article?AID=/20050506/BIZ01/505060361

 

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new Bridgewater Falls

 

Huh?  Where is this?  Is there possibly a retail outlet in Cincinnati that I haven't been to yet?  Not sure if I have been on bypass 4 before.  I have been on 4, going to Jungle Jim's so where is the bypass?

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275 to Route 4 north.  Before you pass Jungle Jim's, By-Pass 4 will be on the right.  It eventually connects back with Route 4 north of Hamilton, thus bypassing all of Fairfield and Hamilton traffic.  Bridgewater is at the by-pass and Princton Rd, just north of the Rt. 129 Hamilton Connector.

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From the 7/30/05 Enquirer:

 

 

PHOTO: Employees Aimee Bayes (foreground) and Jessica Roberts adjust clothing displays at the new JC Penney store on Princeton Road. The store opens Sunday.  The Enquirer/Steven M. Herppich

 

Loss of Penney's anchor not necessarily bad news

By Mike Boyer

Enquirer staff writer

 

The closing of a JC Penney's store in Tri-County Mall today is more of a new beginning for the 45-year-old mall than an ending, says the retail consultant for Springdale.

 

The closing of the 160,000-square-foot store, "opens up one of the best retail locations in northern Hamilton County for new development," said Stan Eichelbaum, president of Cincinnati's Market Developments Inc.

 

Penney is moving the store to a new-format, 98,844-square-foot store in Bridgewater Falls Shopping Center off Princeton Road in Fairfield Township. It opens Sunday.

 

Once viewed as a major blow, the loss of an anchor store is now considered an opportunity, said Eichelbaum, as enclosed malls try to reinvent themselves with new types of stores, eateries and attractions to draw shoppers.

 

Thor Equities, which acquired the 1.3 million-square-foot mall last February for $180 million, plans to invest $15 million to dress up Tri-County Mall and add streetscapes, restaurants and other stores in Penney's old spot.

 

 

E-mail mboyer@enquirer.com

 

http://news.enquirer.com/apps/pbcs.dll/article?AID=/20050730/BIZ01/507300338/1076/rss01

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From the 10/29/05 Enquirer:

 

 

Mall getting $10M upgrade

Tri-County to redo old Penney's site

By James Pilcher

Enquirer staff writer

 

SPRINGDALE - The new owners of Tri-County Mall are planning a $10 million face-lift and renovation of the space formerly occupied by JC Penney.

 

The project would be the first such improvement to the 45-year-old shopping center since a second floor was added in 1990, and would follow a recent trend of creating a more open-air feel to area malls.

 

"We're hoping to make the center exciting to our customers," said Sandra Holzwarth, marketing director for the mall, which New York-based Thor Equities bought in February for $184 million from the Blackstone Group.

 

Thor's plans for the 1.35 million square-foot mall include dividing the old JC Penney space to accommodate several retailers and restaurants and enclosing the space in glass. The outside of the mall would also be updated, although the actual retail space would not be expanded.

 

 

E-mail jpilcher@enquirer.com

 

http://news.enquirer.com/apps/pbcs.dll/article?AID=/20051029/BIZ01/510290355/1076/rss01

 

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Tri-County to join open-air mall trend

New owner proposes multimillion-dollar face-lift

Lisa Biank Fasig

Staff Reporter

 

In a bid to revive the aging Tri-County Mall, the center's new owner is planning a major renovation that could transform its brick facade into an open-air marketplace, with a glass-enclosed atrium, new restaurants and several streetside storefronts.

 

The plan, estimated to cost more than $10 million, follows similar concepts by Kenwood Towne Centre and more recently Northgate Mall, which also is in the planning stages of an open-air expansion.

 

If approved, Tri-County would add a similar "streetscape" feature that would span Princeton Pike, from Macy's through to the former J.C. Penney site. It would require the complete reconstruction of the Penney space, vacated in July, into at least two stories of specialty shops, enclosed floor-to-ceiling by glass. The facade from Penney to Sears, facing Kemper Road, also would be updated to be more inviting to commuters.

 

"Tri-County has always kind of been the jewel in the crown, (but) it hasn't undergone any redevelopment or improvement in 15 years," said Jeff Tulloch, Springdale's director of economic development. "What's going on at Tri-County Mall is going to foster more improvements to other retail centers in the retail district."

 

http://cincinnati.bizjournals.com/cincinnati/stories/2005/10/31/story1.html?page=2

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It is simply not possible that all those malls near one another can succeed (Northgate, Cincinnati Mills, Tricounty).  One must go....I mean really malls are just the biggest of all big box developments, whether they are open air or not.

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Thank god, I was there this weekend and it is hurting since Penny's left.  Kenwood is leaps and bounds ahead of the rest of the malls in the metro.  Apple, Kenneth Cole, Sony, Discovery, Sharper Image...  I can spend hours in that mall while the women browse their stores.  For an upscale mall, Kenwood offers plenty of variety for the shopping "male".  Many upscale malls cater to only women so it is nice to see.

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From the Community Press, 11/23/05:

 

 

Tri-County Mall owners plan to update facility with $10 million renovation

Open-air marketplace, new eateries proposed

BY ANDREA REEVES | COMMUNITY PRESS STAFF WRITER

 

A $10 million revitalization of Tri-County Mall could begin as soon as February.

 

The plan calls for adding a new open-air marketplace, similar to Kenwood Towne Center, along the Princeton Pike frontage from Macy's to JC Penney.

 

JC Penney would be remodeled as well, into several smaller retail businesses with floor-to-ceiling glass.

 

The facade from Penney to Sears would also be updated to blend with the rest of the mall's new look.

 

Two restaurants and some retail shops may move into the Princeton Pike frontage space, according to Springdale Economic Development Director Jeff Tulloch.

 

 

http://news.communitypress.com/apps/pbcs.dll/article?AID=/20051123/NEWS01/511230868/1075/Local

 

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From the 12/28/05 Tri-County Press:

 

 

ELEVATION: The renderings for the Princeton Pike facade of Tri-County Mall include landscaping, architectural graphic panels and floor-to-ceiling glass in the old J.C. Penney building.

 

ELEVATION: The concept for the Princeton Pike frontage of Tri-County Mall will carry over to the Kemper Road frontage.

 

Mall may offer a taste of 'Paradise'

BY ANDREA REEVES | COMMUNITY PRESS STAFF WRITER

 

SPRINGDALE -- The Jimmy Buffet-inspired Cheeseburger in Paradise and Carrabba's Italian Grill may be coming to Tri-County Mall.

 

BHDP Architect Bob Rich told Springdale City Council last week that those two Outback Steakhouse Inc.-owned restaurants may move into the Princeton Pike frontage of Tri-County Mall.

 

Also, an upscale furniture store may move into the lower level of what is now the vacated J.C. Penny Co. building, Rich said.

 

No plans for the restaurants or other retail stores in the mall, however, have been finalized, he said.

 

The two restaurant names surfaced during Rich's presentation of preliminary plans for the $10 million mall revitalization, plans that have already been approved by Springdale Planning Commission.

 

Council approved the plans unanimously. The project could begin in February.

 

 

areeves@communitypress.com

576-8246

 

http://news.communitypress.com/apps/pbcs.dll/article?AID=/20051228/NEWS01/512280315/1075/Local

 

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From the 3/12/06 Enquirer:

 

 

RENDERING: The new main entrance to Tri-County Mall in Springdale will be built in the space vacated by J.C. Penney. This rendering shows its main feature, a three-story glass atrium  Provided image

 

PHOTO: This Tri-County Mall building was once home to a J.C. Penney store, but has been vacant since the store relocated to Bridgewater Falls in Fairfield Township. It will be renovated as a mall entrance.  The Enquirer/Glenn Hartong

 

Tri-County remake keys on new entrance

Glass atrium planned in old J.C. Penney space

BY MIKE BOYER | ENQUIRER STAFF WRITER

 

SPRINGDALE - Work could start within the next month on the $10 million renovation of Tri-County Mall that includes a new main entrance where the J.C. Penney store was located and several new tenants.

 

Carl Reggie, marketing director for mall owner Thor Equities Inc. in New York City, said renovation plans are being finalized. He declined to discuss specifics until store leases are signed.

 

But plans approved last month by the Springdale planning commission indicate the mall plans to add two restaurants flanking the existing main entrance on the mall's west side off Princeton Road.

 

Each of the restaurants would be 6,400 square feet on street-level bump-outs from the existing mall. One would be a Cheeseburger in Paradise, the other a Carabba's Italian Grill.

 

 

E-mail mboyer@enquirer.com

 

http://news.enquirer.com/apps/pbcs.dll/article?AID=/20060312/BIZ01/603120362/1076/rss01

 

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I grew up 1 mile from Tri-County, a wee little tot when it was built, funny to me because it was "open air" when it was built!!  What goes around...

 

I can't believe it has been 15 years since they added that 2nd floor?  I'm sure they are just trying to draw all those folks from West Chester down there.  There is a particularly nasty railroad crossing just north of it on 747 (direct connect to West Chester and points north), they have been working on that for many months. 

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Trash-County Mall has been stuck in the 80's SINCE the 80's.


"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

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Go to Springdale and see for yourself.


"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

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^Is that even possible?

 

Don't you know that ColDay is ALWAYS right?!?!  Its not even worth your time to argue with him :speech:

 

Finally.  The University of Cincinnati has given those college loans and grants some use.


"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

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^I can't go back to the 80's, Jack.

 

 

The old blue Schillitos (sp?) tiles on Lazarus Macy's and the awnings on Sears are repulsive, but the inside isn't all that bad, gives one a Fairfield Commons feel. I'm not really one for malls, but if I'd want to see one survive outside an urban place, it would be Tri-County, which is ironic because it was the mall that stole all of downtown Hamilton's retail.

 

 

What is left of Swifton Commons, BTW?

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Just that.  Swifton Commons.


"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

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^^ehh...not close.  Parents money does not equal my money!  I've been working hard to pay my way through!!!

 

So you're college rich.  Gotcha.


"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

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I will agree with inkaelin that the inside of Tri-County is nice and can see the comparison to Fairfield Commons but the outside lures people to the region.

 

(Take any Swifton Commons discussion to another thread)

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Isn't the the Penny's building the old Pogue's store?  I remember that from when I was younger...and the Gold Circle that was close by.

 

The inside of TriCounty isn't bad.  And the McAlpin's/Dillards store is one of the nicest around.

 

I never understood why they built Forest Fair/Cincy Mills so close by.

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I don't care what you guys say. Tri-County has a guitar shop and a store that sells old Transformers and NES Games. It kicks ass.

 

If you want a store that sells old Transformers, you need to check out the toy store in Pleasant Ridge.  For guitars, Sam Ash is right next to Dave & Busters. :)

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^^ I was actually in the store at Pleasant Ridge the day I wrote that. It looked like somebody cleaned 'em out as far as Transformers went; well, at least the original "real car"-based ones. The ones at the mall are just beat up enough to make them cost $7 instead of $50, although they have the nicer ones as well.

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