info2

First, I'm not a he, and second I'm not lou s. I'm just a concerned citizen that has done "some" research on this development and had an opinion. It was based on information from friends in KC. I guess if you don't follow the hype, you are an outcast. Very simplistically,............ if you try to calculate how many tenants would be in 400K SF @ Promenade, I ( just me apparently) don't see how there's 40-75 other tenants out there. If I'm wrong, so be it. The fact remains that that was a beautiful piece of tree canopy/ I will post no more .

"I assume you are basing your assertions on previous developments by RED, so tell us about a few examples and describe those sites so we have a better idea. Were they urban or suburban projects?" Quote from RED / Sparks, NV Chamber: "RED Development's design for The Legends at Sparks Marina includes a minimum of 800,000 square feet of retail space and is estimated to cost up to $400 million. Because the project is designed to boost tourism, the recently approved STAR (Sales Tax Anticipated Revenue) bonds, a unique financing tool available for projects that have a positive impact on the region or state, will be utilized to fund the project. RED is also currently utilizing STAR bonds at the recently opened The Legends at Village West in Kansas City, Kansas, and most of their projects."

The issue is that RED is going to ask to build something that we will have to pay for through their standard plea for "sales tax revenue bonds" to make up at least 30% of the budget. Don't kid yourself and think that these guys are charitable non-resident absentee do gooders. The developers and strategic retailers are only coming if they get huge perks, like low lease rates, free sites, % ownership, and on and on. RED history is wait until D Day and then negotiate or they bail and we get left with a lunar landscape site.

Back to Promenade, based upon the existing development, and the planned future condos in the area and other items, I think this will likely be a success and it's lifestyle theme will sit well in that wooded/natural location.

RED is in trouble in several locations already. Buildings and projects promised that were not completed even in their own back yard, KC. Lots of hype but no cred. Hope it happens as that WAS a beautiful site, but I'm not counting on anything but local retail...........it's adjacent to millions of square feet of strip center .