Is Bridge Street Town Centre next??? (Huntsville, Madison: sales, foreclose, to buy)

[takemetothemoon]

This is not good for the developers of Bridge Street Town Centre.
Lender forecloses on Louisiana Boardwalk | shreveporttimes.com | Shreveport Times

If we want any hope of landing great retailers to the Tennessee Valley we need to support this development and the businesses there. We'll never see a Macy's, H&M, Cheesecake Factory, Nordstorms, etc. if Bridge Street Town Centre fails!

[Maya Blue]

They are about to start 3 new buildings pretty soon.

Confirming the statements made by the City of Huntsville (Mayor Tommy Battle in particular) that retail is about to grow again in this area, there were three building permits listed in the HSV Times Business First section this past Sunday for Bridge Street. The permits were as follows:

1. $2.95 Million for a new building for Huntsville Power Center at 6884 Governors West
2. $1.5 Million for a new building for Huntsville Power Center at 6888 Governors West
3. $900,000 ....at 6886 Governors West

The Huntsville Power Center Center is the strip center presently anchored by the Sports Authority store. Sports Authority's address is 6890 Governors West. Apparently the developers of Bridge Street must have some big box anchor tenants lined up because it is hard to see how they could get financing for such big projects. It will definitely be interesting to see who comes in.

Also, this leads to the question of how things are going with their efforts to attract Von Maur's Department Store which they tried to entice last year by getting the City to give a sales tax abatement in order to finance a parking garage - The City was not agreeable.

Second, is how things are going on their efforts to get tenants to justify construction of new office buildings to go in the North West corner of the development which will look similar to the present CSC building overlooking the lake.

This construction permit notice is a good sign and hopefully the announcement of the big box tenants will be coming soon

[takemetothemoon]

While these are "new" stores, a friend that works at the development told me they are Toys R Us/Babys R Us that are moving from their current locations to these new "power centers". Also there is supposed to be a Panera Bread as well (perhaps that is the free standing unit). So we really only gain one new business in the area and there will be two much larger vacancies (current Toy's R Us and Baby's R Us)... makes you wonder with the Target going in at the Shoppes of Madison only 5 miles away if the current location would move or close. I can't see Madison requiring the need for two Target locations on the same road within 5 miles.

[Maya Blue]

The new Target will be a normal sized Target. Not a Super Target. The current Super will not close. Target has done this in many cities.

Oh, and the current Super Target is in Huntsville, not Madison. Big difference there, as Madison will receive the sales tax dollars from this development.

[Mawoods]

Bridge Street and Huntsville area needs a Macy's. I can afford to buy anything at Bridge Street but I don't because for the most part it isn't my type of "stuff". So I don't go there often. Sorry I don't care for Juicy Coutoure, etc. It needs a good department store that appeals to the masses and Belks and Dillards need some competition here. Bridge St needs a better mix of stores. I do like Old Navy and unfortunately it is on the perimeter so I go there and no further!

[friday13]

Originally Posted by takemetothemoon

I can't see Madison requiring the need for two Target locations on the same road within 5 miles.

Originally Posted by stewdog1

Oh, and the current Super Target is in Huntsville, not Madison. Big difference there, as Madison will receive the sales tax dollars from this development.

I get the point why Madison City courted the Target (albeit a small-sized one), but I'm baffled as to why Target isn't pursuing the Harris Hill project (where I can see a Super store fitting better).

There were times before the recession when the CRP Target was brimming with shoppers; Then the recession came upon - and the crowds went down; Now the economy is, supposedly, on the mend, but I don't see shoppers to the 2004-2007 level. And yet another Target pops up 5 miles away.
I imagine the two stores will share the current-location shopper base - With Madison City residents shopping exclusively at their store to just 'do the right thing' (i.e fund the MCS with their sales).
Whereas the Harris Hill location would've brought shoppers from that side of the town, and maybe take some away from the Walmart on Sparkman.
I personally shop Target every so rarely because I dread the weekend schlep (and when I do is Jones Valley, or CRP-not because I want my money to go tho HCS, but it's not adding another 5 miles to my already-long drive, and to a store that doesn't carry produce, deli, bakery). Again, Target's decision doesn't make much market sense to me. But they didn't ask me, so I'll shut up.

[wakeboarder8181]

They should change to the name to Yuppie Land!

[Mawoods]

Originally Posted by friday13

I get the point why Madison City courted the Target (albeit a small-sized one), but I'm baffled as to why Target isn't pursuing the Harris Hill project (where I can see a Super store fitting better).

There were times before the recession when the CRP Target was brimming with shoppers; Then the recession came upon - and the crowds went down; Now the economy is, supposedly, on the mend, but I don't see shoppers to the 2004-2007 level. And yet another Target pops up 5 miles away.
I imagine the two stores will share the current-location shopper base - With Madison City residents shopping exclusively at their store to just 'do the right thing' (i.e fund the MCS with their sales).
Whereas the Harris Hill location would've brought shoppers from that side of the town, and maybe take some away from the Walmart on Sparkman.
I personally shop Target every so rarely because I dread the weekend schlep (and when I do is Jones Valley, or CRP-not because I want my money to go tho HCS, but it's not adding another 5 miles to my already-long drive, and to a store that doesn't carry produce, deli, bakery). Again, Target's decision doesn't make much market sense to me. But they didn't ask me, so I'll shut up.

I agree - I wish Target would have considered the location at Harris Hill or on 72E area. HC is just ripe for things along with that whole area off Winchester Rd. I bet many would drive from Scottsboro to a Super Target or stop by on the drive to and from work into Huntsville.

[KDM256]

I also agree that Target should consider the Harris Hill location for a Super Target but we all know that the city of Huntsville will make sure West and South Huntsville are well taken care of before they even think about building something that would benefit the residents of 72E.

[elephant08]

Originally Posted by Mawoods

Bridge Street and Huntsville area needs a Macy's. I can afford to buy anything at Bridge Street but I don't because for the most part it isn't my type of "stuff". So I don't go there often. Sorry I don't care for Juicy Coutoure, etc. It needs a good department store that appeals to the masses and Belks and Dillards need some competition here. Bridge St needs a better mix of stores. I do like Old Navy and unfortunately it is on the perimeter so I go there and no further!