Quote:
Originally Posted by Parkway
My understanding is that the Gallery renovation is moving so slowly because they are having problems getting any tenants to sign onto the project. The problem is that retail and fashion are very time sensitive industries and the last time I checked the reopening date was "2018 or 2019". Retailers who are looking for space in Philadelphia want it now not 3 years from now. Hell, Michael Kors as a brand exploded and became passe in the space of 3 years.
I think this is why the current focus has been on chain restaurants.
|
regardless of any timing issues the concentration on eateries was always going to be the case. Restaurants are not seen as vulnerable to e-commerce competition. Ive read articles describing how successful malls are increasingly reliant on restaurants and other attractions to draw patrons. I think the gallery should look to add some other non traditional tenants that will offer something other than generic mall retail. I'd like to see an upscale theater in the project but I doubt that will happen.