Posted Feb 25, 2008, 6:56 PM
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Registered User
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Join Date: Aug 2006
Location: Downtown Los Angeles
Posts: 20,294
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^^^
The cities in that immediate area are anxious to get the project up and going. What we are seeing right now is a phase I type situation. It's still going to be a very large project, but not as urban oriented, at least for the time being. They are leaving plenty of possibility for additional perks, if the market will prove itself. Right now, you have some very impressive retail and mixed use projects, such as CCC, the new Fashion Place, The Cottonwood, and the continued expansion of Gateway. The market is being asked to absorb a lot, given how the national economy is looking so skiddish at the moment, especially with housing and retail. Even if we are one of the highest growth areas, there's probably going to be a little bit of a 'phase game' with some of the projects such as Station Park. Even in a very strong market, phases are the norm. Situations like the City Creek or what we see in Vegas are rare.
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