High End Shopping Mall Complex Proposed Again (Houston, Dallas: apartments, rent)

[HookTheBrotherUp]

So, what happened? Did anyone attend the hearing?

[Muhnay]

High-end shopping mall again proposed for Farah site - El Paso Times

When I read that, it looks like it wont happen.

[6 FOOT 3]

From whay it says is that the developers only gave the presentations to the city council and then in 2 weeks they'll vote on it.

KVIA.com El Paso, Las Cruces - Weather, News, Sports - Developers pitch incentives package to council

[utelpaso88]

I think what the reporter meant top say was on and not off. Anyway I hope this thing happens beacuse that old building is really an eyesore and needs to go soon.

[Chuco]

Hi everyone! Was gone for a while due to some personal and family issues.. but life seems to be back to normal, so I'm glad to be back on here.

Back to this topic: this really looks like a no-brainer IMO, this project should be approved immediately. This eyesore (abandoned farah building) that we have now contributes absolutely nothing positive to this city. It gives El Paso no jobs, it looks terrible, it produces no new taxes for the city, it is located in a great location but brings down values all around it..

I know that the Fountains are not bringing the hi tech jobs that El Paso is looking for, but it is something else that will help El Paso in modernizing itself. It will provide new jobs, and millions more in taxes for the city. I saw some renderings of this new fancy center and it really looks top notch and nicer than almost any other shopping center I've seen. Replacing that eyesore we have now with this new upscale mall would be huge for El Paso and our future.

This time around I think the council will give the Foster/Regency group what they want. Foster has done so much for El Paso already..that I think the city won't have a problem helping him back.

Even many other area developers including River Oaks and Mimco are on his side, supporting The Fountains. The only main opponent is Simon Property Group.. which owns Cielo Vista and Sunland Park malls. I totally understand why Simon would be opposed since the Fountains will compete directly across the street from Cielo Vista Mall..but I dont think they will have enough support to bring this down by themselves.

The County has a long history of screwing things for El Paso, so they might screw it up again with this..but I think the city council will give this project what they are asking for.

With Byrd, Lilly, O'Rourke, Ortega, and Mayor Cook as the swing vote, I am almost sure the tax incentive package will be approved by the city. The only people dumb enough to vote against this are Castro, Quintana, and Holguin Jr.. Good thing they are out numbered.

[Miner72]

Council and court know the people are really for this project. This is a Power Lifestyle Center that will afford much to this region.

It eliminates the blight, no risk to government, builds a nice retail center, and brings new investment to an aging infrtastructure. Council is moving closer to approving..bet on it. The Court..work to do..but it is positive..

This is an incredible opportunity to pass up. El Paso will benefit from it.

[Muhnay]

I so agree what this person had to say on the El Paso Forums at Topix.

ICEPICK SAID: Other cities have more cosmopolitan areas because they allow tax incentives for developers, provided there is truly going to be a return on the investment. According to the proposal, if these are new retailers to the area, much of the revenue they generate could be that which is already spent by El Paso-area consumers, but in Dallas, Scottsdale, or on the Internet as opposed to here at home.
Again according to the proposal, if this is "new" revenue generated, then any sales taxes collected are over and above what is presently collected without a new mall. There is nothing truly "out of pocket" for the El Paso taxpayer IF the proposal is what actually goes through. They're looking to receive half of what the city and county's take of sales taxes on their sales is - that amounts to .5% and .25% of the amount of the sales that they generate. I find it hard to believe that would be an unbearable burden, as the revenue won't be there at all if the new development is squashed.
And yes, El Paso could use 2500 minimum-wage jobs - aside from the fact that most upscale retail jobs pay notably more than minimum wage.
Both El Pasoans and visitors to the city are quick to point out the lack of redeeming "big city" retailers and upscale facilities. Here's the opportunity - with the FBI taping everyone's phones in the county and city offices, perhaps a developer can actually get something accomplished in this town without facing a line of buffoons in the public trust holding their hands out for a donation to expedite the process.
That's the real reason we don't have a riverwalk, a downtown we can be proud of, or a real sports arena with a decent team - too many elected officials trying to line their pockets or steer every deal to their brother-in-law's construction company. El Paso has so much potential - but it is its own worst enemy.
El Paso has historically been short-sighted in terms of what is possible economically and developmentally. I hope that a better attitude will prevail and allow some of the finer things to come to this city.

[6 FOOT 3]

Good to see you post again Chuco !!!!

6/3

[anelizk]

I say move the tax incentives in the direction of industries that foster a more substantive job market (as Clashman suggested), build up that better job market & El Paso's economy, AND THEN build a high end shopping district. Honestly, I can't see (& I could have a misguided opinion) stores like Burberry or Versace (if that's the kind of high end that's being proposed) surviving in EP just yet.

Also, I agree w/Muhnay's comment about it being turned down unless the c.council can make a personal buck off it. My father is a r.e. developer in EP & the bureaucracy & (sometimes) "greediness" of the council can border on corrupt (& I'm not calling the c. council corrupt, all city council's everywhere can be crooked).

[Chuco]

Originally Posted by 6/3

Good to see you post again Chuco !!!!

6/3

Thanks 6/3! Its good to see that you are still here.

Hopefully this thing gets built, because I really do think it would be extremely successful.