As reported in the Jan. 16 East Valley Tribune, Phoenix-based Vestar Development Co. says weaker-than-expected population growth thanks to the housing market and competition from new retail openings has put the brakes on the planned Ironwood Towne Center and Vinyard Towne Center.
We're not sure if anyone cares about this news, especially since it has no impact on us in Oro Valley.
However, we find it interesting that the Vestar project manager stated: "The appetite for additional retail is not what it was 12 or 18 months ago."
What we do care about is the cannibalization we are experiencing here in Oro Valley where Vestar pockets almost 1/2 of our sales tax revenue from their OV Marketplace that opened in Oct. 2008, but is more empty rather than full, even with their main anchor, Walmart.
Here's the article:
http://www.eastvalleytribune.com/story/134209
8 comments:
We should all care as Vestar is responsible for keeping their word of giving us a nice or upscale shopping center!!
Well, where the heck is it?
We are waiting!!!!!!!!!!!!
I can't decide what is the bigger eyesore at the new mall, is it the roof on the Wal Mart or is it the
oracle rd entrance to the mall?
If those are an example of what Vester calls upscale or even acceptable, then again we got ripped off big time
Oro Valley Marketplace may never be completed as it looks like nothing further is being done
What a shame and Vestar is one con job of a company
Vinyard "Towne" Center.
How do you pronounce towne?
Is it town - ie? or just town?
How about Saddlebrooke?
What is up with the extra e?
I move we change the name of our fair town to: The Towne of Oroe valli and the 4 seasons.
nombe, the word 'towne' is not in the Merriam-Webster dictionary. Could it be that by adding an 'e' to the word 'town' that Vestar might be trying to Europeanize (that's not in the dictionary either)it in order to make it appear sophisticated? Or, perhaps the 'e' is added in order to disdinguish between the 'o'rdinary 'towno' and the extraordinary 'towne'. At any rate, nombe, are you really 'nomb' with a silent 'e', a nomb extraordinaire, or are you a nombie, a nomb with a little nomb's moniker? LOL!!!
Zev.
Nombe is Japanese. I will not provide the translation, but god how I hate the extra e in so called English.
Just another sign the developers are lacking in brain power.
Nombe Watanabe. desu.
Vestar spells it "Towne" to make it appear more sophisticated than it really is, but of course we're really just looking at lipstick on a pig again.
Or is that lipsticke on a pige?
Does the 'verdict' in the Phoenix/City North case have anything to do with the 'on hold' position of Vestar in going forward on projects without the ability to cannibalize taxpayer money? Hmmm....
V. COWGIRL:
LOL! (piggie)
Nombe W.
Excellent point, Zev. Vestar's timing on halting the Queen Creek development sure is suspicious!
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