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COVER STORY, OCTOBER 2005
MOVING MIXED-USE FORWARD
Developers are elevating their projects from mere mixed-use developments to true live/work/play destinations.
Lara Fuller
The mixed-use development is no longer the novelty it once was. Most cities in the United States have one, if not more, high-profile mixed-use developments. The challenge that developers face now is finding that unique element that sets their developments apart — all while offering a range of uses to attract both clients and customers. Heartland Real Estate Business takes a closer look at five midwestern mixed-use developments to see just how this is being accomplished.
THE BRIDGES OF SAINT PAUL
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St. Paul-based JLT Group is developing the 2 million-square-foot Bridges of Saint Paul along the Mississippi River in St. Paul, Minnesota.
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The 2 million-square-foot Bridges of Saint Paul, located along the Mississippi River in St. Paul, Minnesota, will be one of the largest mixed-use developments in the United States. However, its size isn't the only thing that will make the project unique. “The project's integration of retail, restaurants, entertainment, cultural and residential uses creates a true 24/7 riverfront village,” says Jerry Trooien, president of St. Paul-based JLT Group, developer of the project. The Bridges of Saint Paul will feature 1,150 residential units, a 250-room hotel, a cinema complex and 400,000 square feet of retail space. Included in the retail space will be more than 50 stores, 10 restaurants and cafes, and 300 square feet of cultural attractions. Other features of the project will include Bridges Avenue, a pedestrian experience that will feature fountains, water shows, fire and ice pools, art festivals and seasonal attractions; Garden Walk, a glass-ceiling garden walk with two botanical gardens; Grand Veranda, an area featuring a large stone fireplace, river views and public amenities; and Harvest Hall, a gourmet food component that includes cafes, a deli, meat and seafood vendors, seasonal produce, culinary and kitchen shops, coffee roasting and a flower market. Another distinctive element of The Bridges of Saint Paul will be known as Mythica. Mythica: The Center for World Mythology and Human Journey, will be a cultural facility designed to celebrate, explore and connect the people and cultures of the world through stories, performances, interactive exhibits, films, observation centers, rides, gardens and a children's Wonder Castle.
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The Bridges of Saint Paul will feature 1,150 residential units, a 250-room hotel, a cinema complex and 400,000 square feet of retail space.
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“The Bridges of Saint Paul, a riverfront community of international scale, will transform how people live, work, learn and enjoy life,” Trooien says. “The property along the Mississippi River has not been used to its full potential. The Bridges of Saint Paul will afford the community magnificent views and use of the river while creating a unique lifestyle.”
SAXONY
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Toledo, Ohio-based Republic Development Corporation is developing Saxony, a $500 New Urbanism project in Hamilton County, Indiana.
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Inspired by the New Urbanism movement, Saxony is a $500 million project located north of Indianapolis, in Hamilton County, Indiana. The 5 million-square-foot project sits on 725 acres and features 1 million square feet of retail space, 3.5 million square feet of office/industrial space and 1,300 residential units. Saxony also features street-front buildings, with bulk parking located behind buildings, and tree-lined streets with parks and wide sidewalks. “Saxony is a pedestrian walkable community that blends residential, business, retail, entertainment and recreational uses into one synergistically linked community providing an array of amenities, shopping, living and business opportunities,” says Richard Arnos, president of Republic Development Corporation. What sets Saxony apart from other mixed-use developments is the area in which it is being developed. Saxony is located in both Fishers and Noblesville, Indiana, communities with well-educated, affluent residents. “Family income levels within a 10-mile radius of Saxony exceed $110,000,” Arnos says. “In addition, Saxony has growth around it that will continue to be unabated for the foreseeable future, a privileged location in the heart of wealthy Hamilton County, a superior school system, and excellent visibility and easy access to Interstate 69 and other major thoroughfares.”
Construction on the Saxony project began in 2003 and is expected to continue for the next 10 years. Republic Development Corporation, based in Toledo, Ohio, is handling the overall development as well as serving as property manager. Bird Houck Collaborative is the land planner and project architect. Trademark Property Group is the retail developer for the project.
VALLEY VIEW VILLAGE
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Valley View Village, developed by Deer Road Properties, a joint venture of Oakbrook Terrace, Illinois-based Mid-America Development Partners and Bettendorf, Iowa-based Equity Growth Group, is the first project of its kind in the Quad Cities area (Rock Island, Moline and East Moline, Illinois, and Davenport, Iowa).
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Valley View Village, developed by Deer Road Properties, a joint venture of Oakbrook Terrace, Illinois-based Mid-America Development Partners and Bettendorf, Iowa-based Equity Growth Group, is the first project of its kind in the Quad Cities area (Rock Island, Moline and East Moline, Illinois, and Davenport, Iowa). “The scope and multi-use nature of the project make it the first of its kind in the Quad Cities and a welcome addition,” says Michael Firsel, chief executive officer of Mid-America Development Partners. “It will also create an eastern gateway to the city of Moline, something that has been lacking to this point. It has the potential to be a major retail destination, not only for local residents, but also for Illinois residents living as far as 100 miles from the site.” Valley View Village will sit on 130 acres between 60th and 70th streets in Moline. Included in the development is 750,000 square feet of retail space, a 75,000-square-foot hotel, restaurants, banks, gas stations and a drugstore. A pedestrian-friendly complex will combine the retail, restaurant, hotel and residential components, and the retail center will be designed as a downtown area, with shops and restaurants sitting along a landscaped parkway. “Other possible components of the project have not yet been defined,” Firsel says. “Among the ideas being considered are office space, an indoor sports and fitness center, senior housing, multifamily housing and student housing for nearby Blackhawk College.” An innovative bio-retention area, providing storm water detention capacity for the project as well as an ecological study area for Blackhawk College, is also being considered.
“We have identified a real need for the kind of sophisticated, lifestyle-oriented multi-use development that we envision for Valley View Village,” Firsel says. “We are working closely with local government, businesses and Blackhawk College to design a development that not only makes economic sense but also addresses the needs and long-term goals of its neighbors and its community.”
BURR RIDGE TOWN CENTER
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Burr Ridge Town Center in Burr Ridge, Illinois, vertically integrates retail, office and residential space in a suburban setting.
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One of the most distinctive elements of the Burr Ridge Town Center, located at the corner of Interstate 55 and County Line Road in Burr Ridge, Illinois, is the vertically stacked mixed-use buildings that will populate the development. “What makes this project so unique is the vertical integration of retail, office and residential in a suburban setting,” says Matt Nix, senior real estate director with Opus North Corporation, developer of the project. The vertical buildings at Burr Ridge Town Center, designed by RTKL Architects, will house 215,000 square feet of retail space, 33,000 square feet of office space, and 179 luxury lofts and condominiums. A 1-acre park, located at the north end of Village Center Drive, will be used as a venue for outdoor concerts, art festivals, farmers markets, and civic and cultural events. The area in which Burr Ridge Town Center will be located will help ensure the success of the project. “The strength of site demographics — population, home values and household incomes — makes this an ideal location for traditional lifestyle retailers to increase market share,” says Nix. “Furthermore, the lack of permits for new luxury multifamily housing, combined with the growing demand for empty-nester housing, will ensure success for the residential component.”
Development on Burr Ridge Town Center is expected to begin late this year or in early 2006. Once complete in 2007, the project will provide area residents with a place to live, work, shop and play. “While there are many lifestyle center projects underway or on the boards for the Chicagoland area, the Burr Ridge Town Center project represents a truly mixed-use village center, with a true sense of place created by the presence of shoppers, workers, residents and members of the surrounding community, all interacting in an architecturally pleasing environment,” Nix says.
COLUMBIA SQUARE
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Construction of the $34 million Columbia Square project in Cincinnati is scheduled to begin next month.
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Al. Neyer is expected to begin construction on the $34 million Columbia Square in November in Cincinnati after several years of work acquiring the 8 acres in an already developed area needed for the project. “Site assembly was challenging, because multiple owners made buying the 8 contiguous acres difficult,” says Gail Paul, director of corporate communications with Cincinnati-based Al. Neyer. “Al. Neyer was able to gain some of the parcels through land swaps and reciprocal easement agreements.”
Columbia Square, located in the historic Columbia Tusculum neighborhood at the intersection of Columbia Parkway and Delta Avenue, will fulfill Al. Neyer's desire to create a significant mixed-use development in an urban community. Columbia Tusculum dates back to 1788 and is a neighborhood rich in character and history. “Al. Neyer recognizes the value of redeveloping urban neighborhoods,” says Paul. “Al. Neyer wanted to develop a mixed-use project of significance — one that would function as a new, pedestrian-oriented town square in one of Cincinnati's oldest neighborhoods.”
On the northwest corner of the intersection, a signature mixed-use building will offer 36,000 square feet of office space and 14 to 18 residential condominiums over one level of parking. Located at the southwest corner and east along Columbia Parkway will be three buildings with 46 residential condominiums and 34,000 square feet of retail space. There will also be off-street parking for shoppers, residents and employees. The city of Cincinnati is funding several million dollars worth of street improvements, which will create additional rights of way and sidewalks. “This project is also a unique opportunity to create a town square within an established neighborhood,” Paul says. “It will reknit this neighborhood to create new opportunities for commerce and socialization.”
The project is being designed to blend with the existing structures, further integrating it with the surrounding community. “Signature architecture and a commitment to a modern interpretation of a town square will differentiate Columbia Square,” Paul says. “The project will define this neighborhood, and we're taking great care to create something that is of enduring value to the community, which values its ‘painted lady' Victorian homes and red-brick Federal style buildings nearby.”
The first phase of the project will be completed in November 2006. Construction on the second phase will begin in March 2006 and will be completed the following year.
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