[Stephy0519]

Originally Posted by JayCT

You do not seem to fully understand the retail business. It is very complex and more involved than you think. The Sono Collection will not cater to the same clientele that Stamford, Trumbull, Danbury and Milford cater to.

As CTArtist noted those malls cater to the middle class while this mall will cater more to the upper middle class and upper class which currently have very limited shopping options in Fairfield County. Most of these people currently shop in Westchester or Manhattan and the Sono Collection is looking to tap into that market.

Nordstrom is particularly savvy at this. They know that the market is there (they keep very close track of where their shoppers live) and that the new store will be successful otherwise they would not be investing in it. The same goes for investors paying to construct the center. They know that most brick and mortar stores are shrinking their footprints but upscale shopping is holding its own and expanding. It is all about experience and service rather than price. That said, you may see the Lord & Taylor in Trumbull and Stamford impacted but not likely any of the other stores there. Jay

I 100% agree with this.

I don't even currently live there full time and I am so psyched for the Nordstrom and the entire structure.

Also--I don't personally consider Lord & Taylor high end or any store in that mall, high end. I actually stopped going to the Milford Mall, years ago (with the exception of the theatre and Ulta--which is becoming a strong Sephora competitor,) and mostly Trumbull, as well. I am the person this new mall with be catering to (as are most of my and my fiance's friends) and it will 100% be successful...nor do I think it will take away from any of the other shopping malls OR downtowns. When home, depending on what kind of "feel" I want, I cycle between Westport (really, just for a few shops and Bartaco,) New Canaan, Greenwich, and the Nordie's in Westchester--but that was always a pain to drive to and I tended to shop online, for the brands I wanted there.

I'll also note, I have two HUGE Nordstroms within 4 miles of my current home. Both are always busy, as are both shopping malls.

[Stylo]

I’m sure the Nordstrom’s will do well. Personally I see very little reason to step foot in that or any mall. No matter how shiny or high end it is. I’m actually more looking forward to the high end outlet in West Haven.

[Stepfordct]

Originally Posted by Stylo

No way, no how. Maybe you’ve seen a 10+ year old Range Rover in Bridgeport but the class of cars you’ll see in either town is not. Even. Close.

Correct, my point was people aspire to have nice things whether then can afford them or not.

Frankly buying a 10 yr. old Range Rover or a Mercedes that delivers 95% of the experience for a mere fraction of the price a new one commands is smart. They depreciate horribly....

[Stepfordct]

Originally Posted by JayCT

You do not seem to fully understand the retail business. It is very complex and more involved than you think. The Sono Collection will not cater to the same clientele that Stamford, Trumbull, Danbury and Milford cater to.

As CTArtist noted those malls cater to the middle class while this mall will cater more to the upper middle class and upper class which currently have very limited shopping options in Fairfield County. Most of these people currently shop in Westchester or Manhattan and the Sono Collection is looking to tap into that market.

Nordstrom is particularly savvy at this. They know that the market is there (they keep very close track of where their shoppers live) and that the new store will be successful otherwise they would not be investing in it. The same goes for investors paying to construct the center. They know that most brick and mortar stores are shrinking their footprints but upscale shopping is holding its own and expanding. It is all about experience and service rather than price. That said, you may see the Lord & Taylor in Trumbull and Stamford impacted but not likely any of the other stores there. Jay

Jay, im not sure if you read my post entirely.
Have 20 plus years in this industry. Not saying im an expert, but too say i cannot grasp the subtle complexities of retail is disapointing.

I recall you quoting some data from ICSC earlier.....perhaps you are in the industry.

Again im not predicting the end of Trumbull or Stamford.
Just simply stating this is a zero sum game. Fairfield which is very close, and well to do now has another option.

This combined with the Amazon effect is not healthy for the existing malls.

As of today were all just forecasting. I will speak to my friends at Trumbull, to see what impact this had after the fact.

[Stepfordct]

Originally Posted by CTartist

I never implied that Fairfield "belongs" to the Trumbull Mall. I was just illustrating the drastic difference in incomes in the towns surrounding Trumbull and Norwalk, the two malls we are talking about. Fairfield happens to share a little border with Trumbull.




When I talk about myself I lay it all on the line. I already said I make about the average FFC income of $90,000. I live in and average Trumbull home of about $400,000 which is also the average in FFC.

We know nothing about you. Where are you coming from? Where do you live? Income? House value? I can already guess you probably have some wealth as you are saying that you were a tenant in almost every mall in CT.

I don't think you can understand that the average person like me can not go shopping at high end stores and eat in high end restaurants anymore like the new Norwalk Mall. I'm laying it on the line and telling you I can't afford it.

Here is where I will be going more. I just found out that the Milford Mall will be getting a Boscov's which is kind of like in between Macy's and Penny's. They have good quality clothes at moderate prices. I will be going to Milford Mall even more in the future not the new Norwalk Mall.

You are correct in that all malls are taking a hit. You know where I think the new mall in Norwalk will hurt more than my mall....Westport shopping in and around Main Street.

Ctartist,

Appreciate you laying it all on the line as you say. It does have merit. That said my personal data is just that. I prefer to be more anonymous, like most here.

I do live in Ffld county. Between some of the malls in question.
Literally speaking you would have to pay me to go to a mall! I do accept Bitcoin or Eth, so it is an option....

As stated earlier, you seem to have a good handle on your finances, and are very disciplined. Not everyone is.

This though isnt about you, and i. Its about the population at large. Malls need that to survive

[Stepfordct]

Originally Posted by CTartist

StepfordCT,

The other thing to bear in mind is that the property where the apartments at the Trumbull Mall will go is not on the existing land the Trumbull Mall sits on. The previous mall owners bought out about two streets of houses and land near the mall. The Mall owners are proposing the apartments go on the land that has been sitting vacant for over 10 years (I think it has been about 10 years). Walburn Street and Stuart Place right adjacent to the Trumbull mall are gated off. That is where the new apartments will go....not take existing space at the mall.

I see our planning and zoning people talking on our Trumbull FB pages. Not only are apartments proposed for near the mall new apartments are approved for the end of Oakview Drive off Old Town not far from Sacred Heart University. More apartments are also proposed for Reservoir Ave. off Old Town not far from SHU too. Then the apartments at/near the mall will essentially off Old Town too. They will all be a straight shot down Old Town to Sacred Heart University. The planning and zoning people are talking about attracting younger adults to the town and not just "saving the Trumbull Mall".

All of the people living in the 3 new approved/proposed apartment complexes will be within walking distance or a short bus ride to the mall which will certainly help it. Right now there are lots of young kids in college coming into our mall as Sacred Heart University grows and I love it. I love to see all the young kids in our Trumbull Mall now.

Yes, when i was a tenant there they kept promising to expand the mall further out. Clearly they recognize there is no more need for more retail space.

The big concern for Trumbull would be the size of the apts. How many bedrooms? The real issue being how many new kids being introduced to your school system, as it costs more to school someone than the taxes cover.

Have not followed that in detail.

[CTartist]

Originally Posted by Stepfordct

Yes, when i was a tenant there they kept promising to expand the mall further out. Clearly they recognize there is no more need for more retail space.

The Trumbull Mall did expand within the last 10 years when they put on the Target and some of the restaurants. I don't think they will ever expand for small shops. That target is crazy busy all the time. I was in there last night at 9:00 and the checkout line was long with mostly college age adults. I also heard we might have a Costco (or something like it) come to our mall.

Originally Posted by Stepfordct

The big concern for Trumbull would be the size of the apts. How many bedrooms? The real issue being how many new kids being introduced to your school system, as it costs more to school someone than the taxes cover.

Have not followed that in detail.

I am following that in detail and will be going to all the zoning meetings.

We are talking about 1) reducing amount of proposed apartments 2) limit to 2 bedrooms and my suggestion 3) we vote out all zoning members and politicians who go against what the people of Trumbull want. I wrote that right on line in all our Facebook Trumbull pages. A day after I did that the First Selectwoman came out with this.

https://www.ctpost.com/local/article...d-12961491.php
"But even before any plans have been presented, town residents and officials have begun weighing in, with First Selectman Vicki Tesoro saying she has “serious concerns” about the scope and former first selectman candidate Paul S. Lavoie saying it may not be a bad thing."

We voted the people out a few years back when there was a proliferation of condos going on Main Street. They got the message loud and clear....no more new condos on Main Street since then.

[Stylo]

Originally Posted by Stepfordct

Correct, my point was people aspire to have nice things whether then can afford them or not.

Frankly buying a 10 yr. old Range Rover or a Mercedes that delivers 95% of the experience for a mere fraction of the price a new one commands is smart. They depreciate horribly....

I mean, I like to buy very low mile, recent used cars because of that reason (preferably CPO). But a 10+ year old RR really isn't the same experience. Sit in a 2006 and then a 2018. They've come a long way.

[robr2]

Originally Posted by Stephy0519

Also--I don't personally consider Lord & Taylor high end

I'll also note, I have two HUGE Nordstroms within 4 miles of my current home. Both are always busy, as are both shopping malls.

I shop Lord & Taylor quite often at my local mall here in MA. If one shops smart, their prices are very reasonable. Further, they don't have the chaotic mess found in the Macy's at the same mall.

As for Nordstrom's, again I shop one in the same local mall. Again, shop smart and the prices are reasonable. You can go all out with a shopper and spend big bucks for the service, but I avoid that.

[davwve]

Originally Posted by Stylo

I mean, I like to buy very low mile, recent used cars because of that reason (preferably CPO). But a 10+ year old RR really isn't the same experience. Sit in a 2006 and then a 2018. They've come a long way.

RR has been averaging 8-10 years per platform generation and tend to only make minimal exterior updates during intergenerational years. I know of and seen plenty of individuals purchase older "clean" RR for cheap to keep up a certain appearance. Unless someone is well versed in RR's it is very difficult to tell what exact year one may be.