http://slog.thestranger.com/slog/archives/2009/04/17/stop-building-malls Comments On: Stop Building Malls by Dominic Holden en-us Copyright 2009 The Stranger. All rights reserved. This RSS file is offered to individuals, The Stranger readers, and non-commercial organizations only. Any commercial websites wishing to use this RSS file, please contact The Stranger. webmaster@thestranger.com (The Stranger Webmaster) Mon, 23 Nov 2009 00:00:01 -0800 Mon, 23 Nov 2009 20:45:00 -0800 Foundation http://blogs.law.harvard.edu/tech/rss
Sears doesn't seem to be an exact equivalent to Fred Meyer/Target, though. Is that a full-fledged Sears with all the departments?

If it is, then when the light rail opens they might get a little boost of business, since they are relatively close to the SODO station.

In the Rainier Valley next to the Safeway (north of Genesee) there is a sign up that says a Ross Dress for Less is moving in. So there is something else, though all discount.
Posted by litlnemo]]> Sat, 25 Apr 2009 17:50:57 -0700 The Stranger Posted by Samuel]]> Thu, 23 Apr 2009 11:42:24 -0700 The Stranger Posted by litlnemo]]> Sat, 18 Apr 2009 01:16:31 -0700 The Stranger
A little over 2 blocks from the streetcar that will go up Jackson (possibly by 2012)
Posted by Keo]]> Fri, 17 Apr 2009 21:06:59 -0700 The Stranger
Isn't this close to where the First Hill streetcar will go?

Posted by Keo]]> Fri, 17 Apr 2009 21:03:22 -0700 The Stranger
The pedestrian catchment area for a light-rail station is probably something like 500-800 yards. You appear to be under the impression that you are designing human behavior. You're not.
Posted by Fnarf]]> Fri, 17 Apr 2009 17:18:40 -0700 The Stranger
B) How many cars a building adds to Ranier ave will be in direct proportion to how many parking spaces it has. That there is the one thing that should concern the rest of the community. Less parking is better. Any other objection to a building is bullshit. If investors want to lose their money, or if they don't agree that a certain concept is a loser, that's their business.

C) 1.5 miles away from the light rail stop is an easily walkable distance. When people adjust their standards of walkable to something reasonable, this will be obvious to everyone. So this development is as good as on the line for anybody under the age of 80 with a working set of legs.
Posted by Luke Baggins]]> Fri, 17 Apr 2009 17:07:55 -0700 The Stranger

Posted by Cranky Old Man]]> Fri, 17 Apr 2009 16:11:28 -0700 The Stranger Posted by The Mask]]> Fri, 17 Apr 2009 16:05:05 -0700 The Stranger Posted by downtown clown]]> Fri, 17 Apr 2009 15:56:36 -0700 The Stranger
Watch it mate, you'll be charged as a racist for challenging the health standards in Asian restaurants. Afterall, who's ever gotten the shits in Bangkok or the runny farts in Ho Chi Minh City?
Posted by Stupid White Man]]> Fri, 17 Apr 2009 15:19:31 -0700 The Stranger 1) Mixed-income housing (including 200 affordable units) directly above the retail.
2) A nonprofit social services agency (Goodwill, with not only its retail outlet but training facilities, classrooms and administrative offices).

Also, this development is backed by a coalition of labor, neighborhood groups and business leaders -- from Little Saigon.
http://www.pugetsoundsage.org/article.ph…

There's much more to the story than what The Stranger is "reporting."

Posted by Build It Already]]> Fri, 17 Apr 2009 15:18:28 -0700 The Stranger
They have to disburse all their earnings, so this might have something to do with it.
Posted by Will in Seattle]]> Fri, 17 Apr 2009 15:13:49 -0700 The Stranger
Deutsche Bank AG recently pointed out that both REITs [GGP's mall operator peers Simon and Kimco Realty Corp.], which focus on investing in malls, have announced plans to strengthen their balance sheet by issuing more shares. The problem is that strategy only dilutes the stock and makes the companies payout more in dividends. Deutsche points out that Simon, which is the largest mall owner in the U.S., intends to avoid the scenario somewhat by paying 90% of its dividends in stock, but that obviously causes even more dilution.

It doesn't help Simon and Kimco that the market for retail space in malls like the economy is in a deep funk. Circuit City Stores Inc. and Steve & Barry's LLC, for example, filed for bankruptcy last year and its expected the recession may shutter even more retailers. And with Simon holding $2 billion in debt coming due this year and Kimco with $7.5 billion in overall debt, according to Green Street Advisors Inc., a dwindling revenue base only worsens their prospects for a recovery.

http://www.thedeal.com/dealscape/2009/04…
Posted by gloomy gus]]> Fri, 17 Apr 2009 15:01:14 -0700 The Stranger
Then explain Simon Property Group's relative strength... (up 8.15% in the pas 90 days, 45.85% in the past 30 days and continuing to pay out a 90 cent dividend with a 7.3% yield).

Simon, by the way, is the nation's largest mall operator. Perhaps a better indicator of then the nations second largest mall operator.


Posted by You_Gotta_Be_Kidding_Me]]> Fri, 17 Apr 2009 14:45:49 -0700 The Stranger
And what they're proposing here isn't what comes to mind when you say "mall". They're not building Southcenter (which is nowhere freaking near here, @1). Not that that means it's good. But you shouldn't automatically reject it out of hand, either.

Similar dilemma just getting under way up in Greenwood, where Fred Meyer wants to tear down their store and the Greenwood Market and build another Ballard-style store -- which is ten times worse than any mall.
Posted by Fnarf]]> Fri, 17 Apr 2009 14:33:54 -0700 The Stranger
@11, malls are in fact doing extremely poorly all over the continent, and that actually has led to unprecedented numbers of shuttered stores and drying-up revenue streams for mall owners like GGP, which doomed revenue streams are the exact reason GGP's creditors during months of discussion kept refusing to renegotiate the debt they held, which is more or less exactly, precisely, in a nutshell why GGP threw in the towel and filed for bankruptcy. Aside from that, of course, you're right.


Posted by gloomy gus]]> Fri, 17 Apr 2009 14:02:12 -0700 The Stranger Posted by d-squared]]> Fri, 17 Apr 2009 13:38:42 -0700 The Stranger
Oh, and Paul Krugman should STFU. Today's article was written while he was going thru PMS or maybe his tree allergies are acting up.
Posted by Will in Seattle]]> Fri, 17 Apr 2009 13:38:16 -0700 The Stranger
1)this is a multi-use project that includes residential as well as retail.

2)this is NOT a traditional enclosed mall development...it'll be a Target with probably a midsize chain and some small stuff...

oh, and that redesign you have pictured on the original post? looks like android Swedes would live/work there...
Posted by michael strangeways]]> Fri, 17 Apr 2009 13:25:05 -0700 The Stranger
Bad: the traffic in that area is already horrid; this development would make it far worse...a Target is fine, but we don't need a huge strip mall with 20 stores; also, in this economy what other stores are they going to get?...the proposed design is awful...it would kill the individuality of Little Saigon.

Good: yay! A Target within easy traveling distance of Capitol Hill...let's be honest: Little Saigon is a rat infested demi-slum with lots of great cheap restaurants, junky little shops and ugly, old, unsafe, low density buildings and very little residential opportunities.
Posted by michael strangeways]]> Fri, 17 Apr 2009 13:17:22 -0700 The Stranger
Well that's just being a stone cold liar... In the beginning of your post you said they were going to sell the street - not give it away.
Posted by JF]]> Fri, 17 Apr 2009 13:12:20 -0700 The Stranger its shallowness. If you really want to start worrying, don't waste your time with shopping malls. Start focusing on the issues that make up the multi-family housing sector of commercial real estate in this country and the impacts we'll start seeing when it starts failing.
Posted by Cranky Old Man]]> Fri, 17 Apr 2009 13:08:54 -0700 The Stranger Posted by Rotten666]]> Fri, 17 Apr 2009 13:06:02 -0700 The Stranger I agree. There must be a moratorium on construction of shopping malls. Especially now, after reading that one of the biggest developers of them filed for bankruptcy this week.
Posted by lark]]> Fri, 17 Apr 2009 12:54:47 -0700 The Stranger