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Old Posted Jun 6, 2007, 12:36 AM
ericm2031 ericm2031 is offline
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Join Date: Sep 2006
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Okay...first of all, Roseville does give Westfield a yearly subsidy of about $5 million per year (dependent on sales) and Westfield is investing $240 million total.

Although Target may not seem like a destination retailer, malls across the country are luring in Target because all of the smaller shops are requesting them specifically. Look at Westfield Topanga in LA. It has a Target, Nordstrom, Sears, Macy's, and is getting a Neiman Marcus. It also has stores such as Burberry. So Target seems to fit in well with luxury retail. Target is good because it brings in more traffic to the mall, which will then turn into sales in the existing stores and for new ones that will come with the addition. Like mentioned above, they need better sales from the mall in order to market it to potential tenants. So, it needs a renovation and a Target and the other improvements proposed, which will help give it a MINOR lift to a more acceptable level to pave the way for future changes.

And, just in case you were wondering why they do seem to do more with Roseville, besides the subsidy situation, is because the city doesn't seem to reject and criticise everything they do like what is being done on this thread and others. They never get any public support and city support. The city never works with them except tells them that they need to fix it. Roseville works with them along the way and helps Westfield improve their plan and it works out great and gives them a very close relationship.

Lastly, being in an urban setting, the cost of development is so much higher that they need something big that will offset the costs of the development. They need something big like a Target that will help pay for the renovation. They can't just pour money into it without a guaranteed return on investment.
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