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Old 10-02-2019, 07:45 AM
 
Location: USA
6,899 posts, read 3,738,611 times
Reputation: 3499

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Quote:
Originally Posted by robr2 View Post
I will respectfully disagree. Mixed use continues to be the preference of developers and municipalities versus straight retail, commercial, or residential use. Mixed allows for multiple streams of revenue while reducing the risk of a slowdown in any single sector.

Even the owner of SoNo Collection - Brookfield Properties - is heavily invested in multiple mixed use developments. IMHO, when they bought the original developer of SoNo, the project was too far along to change. Further, if you look at their current projects - mixed use is key. Even existing retail centers are being renovated to include more than shopping.

As for financing, Brookfield took over from the original developer who originally planned mixed use. I don't know what happened to that plan. As for Brookfield, they have billions of dollars in assets - financing a development wouldn't be an issue for them. IMO, anyone trying to finance a straight retail development today like SoNo would be hard pressed to get funding.

I hope that SoNo does well. I just don't think it will be as successful as it could have been 20 years ago.
Ok I'll take your word for it, but I just don't see that concept fitting in Fairfield County anywhere. Can you name any in the area? We don't have large enough cities.
Stamford alone has about 30% office vacancy last I heard. There are numerous empty retail fronts scattered up and down Rt 1.
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Old 10-02-2019, 08:06 AM
 
1,888 posts, read 1,184,400 times
Reputation: 1783
Brookfield didn't just buy the SoNo deal, they bought out GGP for 14B. What Brookfield is doing now across their portfolio is reducing footprints or adding Apts/ hotels in struggling markets. In stronger markets they are just retail only. That said the landscape is constantly changing and not for the faint of heart!
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Old 10-02-2019, 08:48 AM
 
9,877 posts, read 7,207,036 times
Reputation: 11467
Quote:
Originally Posted by SteveM85 View Post
Ok I'll take your word for it, but I just don't see that concept fitting in Fairfield County anywhere. Can you name any in the area? We don't have large enough cities.
Stamford alone has about 30% office vacancy last I heard. There are numerous empty retail fronts scattered up and down Rt 1.
Mixed use doesn't have to contain live, work, play. Having two makes it mixed use.

As for concepts in FFC, check out:

Tradmark Fairfield
Fairfield Metro - corner of Ash Creek and King's Hwy
The Summit at Danbury aka Union Carbide
Brookfield Village
Corbin District in Darien


SoNo could have been a smaller retail footprint with a couple of hundred units of housing, limited commercial space, and some open space that could have taken advantage of the waterfront and Washington St.

Stamford does have an issue with office vacancy. 677 Washington represents a huge part of that 30%. I understand it's now 70% leased but it's taking tenants from other buildings in Stamford (KPMG and WWE.) I wouldn't be surprised to see WWE's current buildings be transformed into mixed use.
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Old 10-02-2019, 09:02 AM
 
Location: USA
6,899 posts, read 3,738,611 times
Reputation: 3499
Quote:
Originally Posted by robr2 View Post
Mixed use doesn't have to contain live, work, play. Having two makes it mixed use.

As for concepts in FFC, check out:

Tradmark Fairfield
Fairfield Metro - corner of Ash Creek and King's Hwy
The Summit at Danbury aka Union Carbide
Brookfield Village
Corbin District in Darien


SoNo could have been a smaller retail footprint with a couple of hundred units of housing, limited commercial space, and some open space that could have taken advantage of the waterfront and Washington St.

Stamford does have an issue with office vacancy. 677 Washington represents a huge part of that 30%. I understand it's now 70% leased but it's taking tenants from other buildings in Stamford (KPMG and WWE.) I wouldn't be surprised to see WWE's current buildings be transformed into mixed use.
Those are in a nutshell just apartments or glorified strip malls.
The Trademark is just an apartment building with an already closed down restaurant downstairs.

Sono Collection is shopping, dining (Yard House is one), heard about a rooftop beer garden, so I supoose it is mixed use then. Glad thats settled.
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Old 10-02-2019, 09:18 AM
 
Location: Coastal Connecticut
21,748 posts, read 28,070,632 times
Reputation: 6710
Quote:
Originally Posted by SteveM85 View Post
The Trademark is just an apartment building with an already closed down restaurant downstairs.
No shocker there. Weird ordering system, mediocre-at-best food, and an awkward accessibility/parking situation. It was born to close.

Milford is getting a smart mixed use building downtown by the train with a grocery store. New Haven has had a few successful ones, College and Crown, Metro Star. Saugatuck has some good ones.

The SoNo mall is NOT mixed use. It’s a mall.
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Old 10-02-2019, 09:27 AM
 
Location: USA
6,899 posts, read 3,738,611 times
Reputation: 3499
Quote:
Originally Posted by Stylo View Post
No shocker there. Weird ordering system, mediocre-at-best food, and an awkward accessibility/parking situation. It was born to close.

Milford is getting a smart mixed use building downtown by the train with a grocery store. New Haven has had a few successful ones, College and Crown, Metro Star. Saugatuck has some good ones.

The SoNo mall is NOT mixed use. It’s a mall.
I'm going to respectfully disagree and stick with the Live, Work, and Play concept. None of which those are.
There's no point in going any further with this since the narrative was changed.
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Old 10-02-2019, 11:31 AM
 
215 posts, read 148,153 times
Reputation: 192
Quote:
Originally Posted by JayCT View Post
The original plan for SoNo Collection included a hotel but that was dropped due to marketing and financing conditions. Jay
Might have something to do with the Marriott that opened this past spring in SONO, a block away from the main strip. I know that hotel took about 2 years to build so the planning for it was probably taking place as the same time as the SONO Collection.


does anyone know why the developers decided to have the outdoor space at the mall, and the foodcourt, over look 95, instead of the water?
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Old 10-02-2019, 11:55 AM
 
9,877 posts, read 7,207,036 times
Reputation: 11467
Quote:
Originally Posted by 1000fc View Post
does anyone know why the developers decided to have the outdoor space at the mall, and the foodcourt, over look 95, instead of the water?
Perhaps better enticement for travelers to see "we're not just a mall."
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Old 10-04-2019, 11:09 AM
 
Location: Near the Coast SWCT
83,513 posts, read 75,277,900 times
Reputation: 16619
I will never step foot in there. Prefer .com

Amazon’s First Retail Outlet In Connecticut Will Be In Norwalk

a variety of products, including books, Amazon devices, electronics, kitchen and home products, toys, books, games, and other items.

https://dailyvoice.com/connecticut/n...orwalk/776839/
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Old 10-04-2019, 12:35 PM
 
Location: USA
6,899 posts, read 3,738,611 times
Reputation: 3499
Quote:
Originally Posted by Cambium View Post
I will never step foot in there. Prefer .com

Amazon’s First Retail Outlet In Connecticut Will Be In Norwalk

a variety of products, including books, Amazon devices, electronics, kitchen and home products, toys, books, games, and other items.

https://dailyvoice.com/connecticut/n...orwalk/776839/
Someone had posted this already but that's ok.
My wife and BFFs are counting down the days and hours to Opening Day next week.
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