Project Profiles
ONE JAMAICA CENTER
QUEENS, NEW YORK, NY
The 210,000-sq.ft. One Jamaica Center promises to become an economic draw when it opens in spring 2002. After an uphill struggle of four years, the Mattone Group has carried this property from being used as a parking lot closer to its eventual use as a three-story entertainment and retail center.
One Jamaica Center
One Jamaica Center is being billed as the way to bring nightlife to the area with a 15-screen National Amusements multiplex cinema providing an entertainment anchor. The 3,300-seat theater will offer Dolby digital stereo and rocking recliner stadium-style seating. Golden Crust, a Caribbean restaurant, and Pizza Max have signed leases, and negotiations are underway for a table-service restaurant. Old Navy has committed to a 30,000-sq.ft. store and Gap and Gap Kids have signed on. Another 25,000 sq.ft. has been reserved for Bally Total Fitness and Walgreen’s will occupy the corner at 160th Street and Jamaica Avenue.
The development cost is estimated at $77 million, with $58 million supplied by the AFL-CIO through a pension fund loan. Other funding was obtained from New York State’s Empire State Economic Development Fund and the New York City Economic Development local council. The city-owned lot is bounded by Jamaica Avenue, Parsons Boulevard and 160th Street where the demographics within the primary market area include a population of 365,907 earning an average income of $52,867.
The daytime population, with draws including York College and the Joseph Adaho Social Security Building, is 25,000. This downtown area has enjoyed a low vacancy rate in its retail district, which until now was mostly leased to local and regional businesses. The appearance of major national retailers plus the multiplex theater are expected to increase both the daytime use of the neighborhood as well as evening and weekend traffic. The new cinema is projected to draw more than 1.5 million people annually.
For lease information, contact Dana Beecher, Mattone Group Jamaica Co., LLC, 718-353-5500, Fax 718-353-0704.
CAPITOL HEIGHTS
DENVER COLORADO
Capitol Heights, an eight-story mixed-use project in Denver, Colorado, is due to completely open during January 2001. The urban center will be anchored by Panera Bread, which has signed for 4,700 sq.ft. and will open this October. Panera operates 12 other locations in Ohio, specializing in baked goods, soups, sandwiches and
expresso.
Capitol Heights
The $22-million project will offer 13,390 sq.ft. of retail space on the ground level. Spaces of 4,000 sq.ft. and 5,500 sq.ft. are available. The upper levels of Capitol Heights will house 145 apartment units, and 254 parking spaces will be included on the site.
Heitler Development is the developer of the project, which is partially funded by bonds issued by the City of Denver. The contractor is Calcon Construction and the architect was Studio Completivo, both of Denver. Capitol Heights is located at the intersection of East 13th Avenue and Grant Street. Area demographics include a population of 177,838 within a three-mile radius earning an average income of $48,484 plus an office population of 281,293. The daily traffic count at the site is 83,200 cars.
The project is close to downtown Denver with such attractions as the city library, State Capitol, U.S. Mint and the art museum. Sports attractions in the area include Coors Field and Mile High Stadium.
For lease information, contact Susan Karsh, Frederick Ross Company, 313-892-1111, Ext. 315, Fax 303-892-6338.
EASTCHASE CENTER
MONTGOMERY ALABAMA
EastChaseCenter is a master planned development that will combine retail, entertainment and multi-family residential uses on 330 acres located in Montgomery, Alabama. Adjacent to I-85 between Taylor and Ryan Roads, the project is planned to be built in two phases, with Phase I including a 350,000-sq.ft. retail center slated to open spring 2002 with one anchor tenant. Phases II and III will incorporate office space, a corporate campus, multi-family residential, restaurant and entertainment venues.
Jim Wilson & Associates, Inc. is both the developer and leasing agent for the mixed-use project, in partnership with Alfa Real Estate, both of Montgomery. Design architect Crawford McWilliams Hatcher, of Birmingham, incorporated a main street theme with trees, fountains, plazas, brick paving and streetlights in the design of the lifestyle center.
EastChaseCenter
The open-air retail center at EastChase will have a village feel and provides curbside parking at many stores. The architecture is described as neo-traditional and will incorporate tower and rotunda elements, recalling some of the state capitol buildings.
Capital City, the third largest MSA in the state of Alabama, is nearby, as is a strong military presence. Within a three-mile radius resides a population of 395,229 earning an average income of $60,480.
For more information, contact Will Wilson, Jim Wilson & Associates, Inc., 334-260-2500, Fax 334-260-2533.
DEERWOOD TOWN CENTER
JACKSONVILLE, FLORIDA
Deerwood Town Center is a 1.2 million-sq.ft. mixed-use center to be built on 175 acres. Touted as a new premier development for Jacksonville by developer Ben Carter Properties, the center will combine streetfront shopping, dining and entertainment venues. Retail shops are projected to cover 300,000 sq.ft., with 450 multi-family residential units, 400,000 sq.ft. of office space and a 250-room hotel to be included in the project.
Deerwood Town Center
Although leasing commitments have not been released, Deerwood Town Center is expected to include four upscale department stores and four specialty anchors plus other assorted boutiques and retail shops. The retail portion alone will cost an estimated $200 million to develop and is projected to open in August 2003.
It is hoped that the center will encourage further development in the area by building a community which offers most things families look for, including daily necessities and unique amenities. Projected demographics for 2004 include a population of 466,000 residing within a three-mile radius earning an average income of $77,200.
The design, by Thompson, Ventulett, Stainback & Associates, Inc. of Atlanta, is patterned after historic buildings found in Northern Florida. The development will consist of two- and three-story buildings. Deerwood Town Center is expected to combine a shopping center with a pedestrian-friendly streetscape in an open air atmosphere, inviting both residents and tourists alike to visit repeatedly. It will offer interactive fountains, gardens, plazas, and an outdoor performance stage, all located among tree-lined, landscaped sidewalks and pedestrian vistas.
For leasing information, contact Ben Carter, Ben Carter Properties, 404-869-2800, Fax 404-869-7171.