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Old 08-22-2014, 05:35 PM
 
568 posts, read 698,627 times
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There goes the destination....
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Old 08-22-2014, 11:34 PM
 
Location: Savannah, GA
4,582 posts, read 8,973,624 times
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Quote:
Originally Posted by -StarBright- View Post
Well, I can't say that I'm shocked. Was there ever even anything about the mall posted on his website? There weren't many details about the project in the first place, and a lot of the store he was trying to attract were already in the market, and the location was kinda bad. You can't say anything is definitely going to happen until it break ground, or really until its built(some projects stop construction for various reason). Projects come and projects go, but trust me, losing a mediocre outlet mall isn't the worst project to lose. Plus, he isn't the most credible developer. If he had to cancel one project to focus more of Broughton Street, thats not a good sign.
Even after ground is broken, there are no guarantees it will be completed. I still know of at least one place in my area that construction begun prior to the recession and then was abandoned. Structure incomplete.
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Old 08-23-2014, 05:16 AM
PJA
 
2,462 posts, read 3,176,740 times
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Quote:
Originally Posted by Newsboy View Post
Never mind. Found the brief item on the Chronicle website. In hindsight, I think it's pretty obvious this was a speculative project from the get-go that never had solid financial backing. The prospectus was COMPLETELY bogus (1.8 million trade area?) and nothing was ever posted to Ben Carter's website, right?

And as I stated above ... he's got his hands full in Savannah right now. The Pooler mall is "reportedly" 90 percent leased, but who knows for sure? And he had to sell off part interest in St. Johns TC and partner with Tanger to make that happen.
Quote:
Originally Posted by Columbus1984 View Post
Or possibly the market couldn't support an outlet mall.
I love when you have "experts" who know more than those that actually work in the field.



Quote:
Originally Posted by WanderingImport View Post
Even after ground is broken, there are no guarantees it will be completed. I still know of at least one place in my area that construction begun prior to the recession and then was abandoned. Structure incomplete.
Yes I'm just glad that the project hadn't started construction and then was canceled. With Costco and Cabela's and the new movie theater on the site, something will develop there. Maybe we can get the actual lifestyle center we were supposed to get instead of the outlet mall.
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Old 08-23-2014, 06:13 AM
 
Location: Columbus, GA and Brookhaven, GA
5,616 posts, read 8,653,289 times
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Quote:
Originally Posted by PJA View Post
I love when you have "experts" who know more than those that actually work in the field.





Yes I'm just glad that the project hadn't started construction and then was canceled. With Costco and Cabela's and the new movie theater on the site, something will develop there. Maybe we can get the actual lifestyle center we were supposed to get instead of the outlet mall.
Actually do work in the field. Graduated with a Real Estate Finance degree from the Terry College of Business at UGA too. Worked with Ben Carter on an apartment project at his St. John's Town Center development in Jacksonville back in 2008.
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Old 08-23-2014, 06:33 AM
 
568 posts, read 698,627 times
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^^^^
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Old 08-23-2014, 06:36 AM
 
Location: The City in the Forest
322 posts, read 586,438 times
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Quote:
Originally Posted by Columbus1984 View Post
Actually do work in the field. Graduated with a Real Estate Finance degree from the Terry College of Business at UGA too. Worked with Ben Carter on an apartment project at his St. John's Town Center development in Jacksonville back in 2008.
So you think Augusta couldn't support one? Please, if Pooler can support one, Augusta can. According to Savannah news, he pulled out because he need to focus more of his attention to attracting retailers to Broughton Street. I notice that he seems to have trouble attracting retail to nearly all of his projects.
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Old 08-23-2014, 06:39 AM
 
Location: The City in the Forest
322 posts, read 586,438 times
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Quote:
Originally Posted by WanderingImport View Post
Even after ground is broken, there are no guarantees it will be completed. I still know of at least one place in my area that construction begun prior to the recession and then was abandoned. Structure incomplete.
In my post, I said that "You can't say anything is definitely going to happen until it break ground, or really until its built(some projects stop construction for various reasons)."
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Old 08-23-2014, 07:11 AM
PJA
 
2,462 posts, read 3,176,740 times
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Quote:
Originally Posted by Columbus1984 View Post
Actually do work in the field. Graduated with a Real Estate Finance degree from the Terry College of Business at UGA too. Worked with Ben Carter on an apartment project at his St. John's Town Center development in Jacksonville back in 2008.
Well good for you! That knowledge will help you when it comes to where to build apartment complexes and other residential type developments...this however is a retail development.
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Old 08-23-2014, 07:36 AM
 
Location: Savannah GA
13,709 posts, read 21,921,752 times
Reputation: 10227
Quote:
Originally Posted by -StarBright- View Post
So you think Augusta couldn't support one?
According to the Augusta Chronicle ...

NATIONAL RETAILERS don't think Augusta can support one: Carter ... had said that Augusta’s demographics and 50-mile regional trade radius made the fashion outlet project attractive, "but some of the retailers just weren't there yet. Sadly, the right anchor stores are not showing interest and it's not the right time."

AUGUSTA DEVELOPER MATT MILLS doesn't think Augusta can support one Matt Mills ... said last year that outlet retailers were reluctant to locate in metro Augusta because of the city’s small market size ...

THE GM OF AUGUSTA MALL doesn't think Augusta can support one: Andy Wilke ... agreed that market size and competing stores can deter outlet retailers from choosing a particular site. "There is quite a bit of vacant retail space in the market already, so adding another 400,000-square-feet I think would have been a particular challenge.”

Last edited by Newsboy; 08-23-2014 at 07:50 AM..
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Old 08-23-2014, 07:46 AM
 
Location: The City in the Forest
322 posts, read 586,438 times
Reputation: 72
Quote:
Originally Posted by Newsboy View Post
According to the Augusta Chronicle ...

NATIONAL RETAILERS don't think Augusta can support one: Carter ... had said that Augusta’s demographics and 50-mile regional trade radius made the fashion outlet project attractive, but some of the retailers just weren't there yet ...

AUGUSTA DEVELOPER MATT MILLS doesn't think Augusta can support one Matt Mills ... said last year that outlet retailers were reluctant to locate in metro Augusta because of the city’s small market size ...

THE GM OF AUGUSTA MALL doesn't think Augusta can support one: Andy Wilke ... agreed that market size and competing stores can deter outlet retailers from choosing a particular site. "There is quite a bit of vacant retail space in the market already, so adding another 400,000-square-feet I think would have been a particular challenge.”
Good to know.

Last edited by -StarBright-; 08-23-2014 at 07:55 AM..
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