Project Profiles
Triangle Town Center
Raleigh, North Carolina
Triangle Town Center, the new 1.2 million sq.ft. enclosed super regional mall, is being touted as more than a retail facility. Instead, it is being advertised as the centerpiece of a housing and business boom going on in the northeast sector of the Raleigh, North Carolina market. Located on 200 acres, the center will have its own exit off the new Northern Wake Expressway (I-540) and is slated to open in March, 2002.
The Richard E. Jacobs Group is the developer of the mega-center and is handling the leasing of the 1.2 million sq.ft. of retail and entertainment space. To date, the following anchors have been signed or given letters of intent: Belk 180,230 sq.ft.; Dillard’s 204,022 sq.ft.; Hecht’s 211,000 sq.ft.; and Sears 145,578 sq.ft. The center will also have a mid-mall food court on its lower level, positioned at the hub of mall traffic with al fresco dining. The enclosed mall will also offer 100,000 sq.ft. of entertainment space.
The concept of the enclosed mall with an open-air retail village was developed with the help of TVS in Atlanta as well as Callison Architecture of Seattle. A major water element in the form of a river channel starts in the open-air concourse and then flows into and through the enclosed mall. Hoar Construction is the general contractor who will be constructing the center.
The center is located in the growing area surrounding Research Triangle Park and boasts a population of 462,000 within the trade area, earning an average income of $69,500. Developers project an increase in both resident and daytime population around the new exit off I-540. The site is located near Route 1 which intersects with Old Wake Forest Road.
For more information, contact Tom Henneberry, The Richard E. Jacobs Group, 440-871-4800; Web site: www.TriangleTownCenter.com.
Village of MonteLago
Lake Las Vegas Resort, Nevada
Lake Las Vegas Resort is a $4 billion, 2,245-acre residential, golf and resort community. In keeping with the Mediterranean theme reflected in the overall design and ambiance, Lake Las Vegas will feature hotel/casinos, 30,000 sq.ft. of world-class spa facilities, at least three 18-hole championship golf courses, a commercial village and restaurants as well as residential properties.
This addition will accentuate the exclusivity of the SouthShore residential community also planned for Lake Las Vegas. Located on the northern side of the 320 acre privately-owned lake, $500 million will be used to build the Village of MonteLago, encompassing 1,370 acres. The village will feature a bridge with guest rooms spanning the western end of the lake designed to emulate Italy’s Pontevecchio Bridge. This expansive structure, part of the planned Ritz-Carlton luxury hotel, will offer 75 of its 350 total rooms with sweeping views as well as an exclusive retail boutiques and a pedestrian promenade.
Adding to its Mediterranean feel, the lakeside resort will be terraced into the hillside with 900 residential condominiums worked into the plan of the Village itself. White beaches, nearly a mile of lakeside walkways and harborside boat docks will create a European atmosphere. Water taxis will transport guests and residents throughout the entire community. 40,000 sq.ft. of casino space is also planned for the resort.
The commercial portion of the Village will encompass 125,000 sq.ft. housing retail as well as waterside restaurants and specialty outdoor cafes. Office space will total 50,000 sq.ft. The project is expected to break ground late this year with a 2002 opening planned. The Village of MonteLago will be located within 17 miles of the Las Vegas Strip.
The master plan for The Village was designed by Eldon Beck Associates of Mill Valley, Barry Berkus of Santa Barbara, California and Glover Smith Bodie Architects of Oklahoma City. The development group of The Village of MonteLago includes The Ritz-Carlton Hotel Company, L.L.C. of Atlanta, Georgia; Intrawest Corporation headquartered in Vancouver, British Columbia; CIRI based in Anchorage, Alaska; and Lake at Las Vegas Joint Venture, a partnership comprised of Transcontinental Properties Inc., as the managing general partner, and individuals and entities associated with Sid Bass and Lee Bass of Fort Worth, Texas, as limited partners.
For more information, contact Kristin Dattani, Intrawest, 604-623-6620, Fax 604-669-0605; Karen Summers, Lake Las Vegas Resort 702-564-1600, Fax 702-565-3968; Web site
www.lakelasvegas.com.
The Incinerator Washington, D.C.
A part of the Georgetown section of Washington, D.C. is about to get a $150 million face-lift which is planned to both preserve the historic look of the region while building commercial traffic and tourism. Twenty luxury residences and a 93-room Ritz-Carlton boutique hotel will be constructed in the Incinerator site at Wisconsin Avenue and K Street NW. Retail venues will be expanded to 7,000 sq.ft. and will share the center with a 13-screen Lowes Theatres multiplex with stadium-style seating. The upscale mixed-use project will restore the landmark smokestack and the brick incinerator building, using it for the lobby of the hotel and for a restaurant, thus creating public access to the incinerator building.
The project will cover the 500,000 sq.ft. area bounded by K Street, Wisconsin Avenue, 31st Street and South Street, one block from the Potomic River. Architects Gary Edward Handel & Associates of New York worked in collaboration with Shalom Baranes & Associates of Washington, D.C. to create a sense of openness, keeping an appropriate scale and light. Retail is planned along the Wisconsin Avenue and K Street perimeter at street level. The theatre and retail will occupy the space along K Street below the Whitehurst Freeway, with residential and hotel space located above the Freeway.
The historic Brickyard Hill houses will be retained along with two carriage houses, and there will be pedestrian and automobile access to the hotel and condominium units. No new structures will be permitted taller than the cornice line of the existing incinerator building. Connections will be made from the outlying structures to the incinerator through underground passageways. The Ritz-Carlton Hotel, Lowes Theatres multiplex, boutique retail shope and luxury residences are clustered around a series of landscaped courtyards to give the effect of a multi-use neighborhood or community. The project is slated for a fourth quarter 2001 completion.
For more information, contact Matthew Hall, Millenium Partners, 212-595-1600, Fax 212-595-1831.
Legends Sports Complex
Oklahoma City, Oklahoma
The Legends Sports Complex mixed-use facility is designed to be a one-stop family sports facility for Oklahoma City and the surrounding area. The sports complex, which broke ground last month, is being built on 73 acres and will have easy access to Routes 40, 35, 235 and the Kilpatrick Turnpike. It will consist of 9,600 sq.ft. of retail, 2,200 sq.ft. of entertainment and 1,200 sq.ft. of office space.
The 12 different fields, patterned to resemble professional fields, will offer facilities for sports including everything from tot lots to league-sanctioned playing fields for adults. Accurate replicas of nationally-known major league baseball parks including Fenway Park and Wrigley Field are also planned for the complex. Professional instruction in sports ranging from baseball, softball, soccer and football will be available. Batting cages will be available, as well as walking trails and an outdoor fishing pond.
The financing for the approximately $4 million cost is being provided by Edmond Bank & Trust. W. Brad Troutman is the developer as well as the president of the Legends Sports Complex. MGR Inc. is the engineering firm. Area demographics include a population of 1.2 million within a 40-mile radius earning an average income of $60,000. Other attractions in the general vicinity include the Cowboy Hall of Fame, the Softball Hall of Fame, Frontier City Premier Park and the North Park and Quail Springs Malls.
Legends is slated to open for play in September. If successful, the center will eliminate the need for families to go to different fields for different sports, and will offer a variety of athletic opportunites for professional teams as well as schools and local leagues.
For more information, contact Brad Troutman, Legends Sports Complex, Inc., Box 72045, Oklahoma City, Oklahoma 73172-0945; 405-775-0505, Fax 405-722-2680: Web site: www.legendssportscomplex.com.