Yet, ANOTHER Shopping Center Proposed

[tim2462]

Not many details are available yet, but here's some info. Benton officials are negotiating a possible commercial development on the west side of I-30 and Alcoa Road. A shopping center has been proposed for that area where a Pilot truck center and convenience store is now located. This is directly across the interstate from the newly opened Alcoa Exchange. The proposed development would be bordered by I-30 and Arkansas 5, and would generate an estimated tax revenue of between $1.3 and $1.6 million annually, officials have said. Alcoa Exchange was originally going to be in this location. Benton really lost out on that tax revenue, since most of Alcoa Exchange lies in the city limits of Bryant. Funny enough, most of the parking lot, along with Chili's and Starbucks are in the Benton city limits....but Target, Old Navy, Kohl's, and most other stores are in Bryant. They said that once I-30 was upgraded to 6 lanes, that Saline County would boom...looks like that is the case. Benton & Bryant are growing rapidly in residential and retail, since I-30 reconstruction has finished. Benton also recently annexed 120 acres on Alcoa Road, on the same side of the interstate as Alcoa Exchange. They are planning some type of commercial development there as well. They are not wasting time trying make up for what they lost to Bryant.

[Aporkalypse]

Not many details are available yet, but here's some info. Benton officials are negotiating a possible commercial development on the west side of I-30 and Alcoa Road. A shopping center has been proposed for that area where a Pilot truck center and convenience store is now located. This is directly across the interstate from the newly opened Alcoa Exchange. The proposed development would be bordered by I-30 and Arkansas 5, and would generate an estimated tax revenue of between $1.3 and $1.6 million annually, officials have said. Alcoa Exchange was originally going to be in this location. Benton really lost out on that tax revenue, since most of Alcoa Exchange lies in the city limits of Bryant. Funny enough, most of the parking lot, along with Chili's and Starbucks are in the Benton city limits....but Target, Old Navy, Kohl's, and most other stores are in Bryant. They said that once I-30 was upgraded to 6 lanes, that Saline County would boom...looks like that is the case. Benton & Bryant are growing rapidly in residential and retail, since I-30 reconstruction has finished. Benton also recently annexed 120 acres on Alcoa Road, on the same side of the interstate as Alcoa Exchange. They are planning some type of commercial development there as well. They are not wasting time trying make up for what they lost to Bryant.

[tim2462]

No idea on tenants....judging by the estimated tax revenue, I would guess that it will be quite large. But, it's hard to say...it's in the very early stages. I've noticed though that developments move quickly in Saline County. Alcoa Exchange was announced in December'05, and opened earlier this month.

[Architect]

Not many details are available yet, but here's some info. Benton officials are negotiating a possible commercial development on the west side of I-30 and Alcoa Road. A shopping center has been proposed for that area where a Pilot truck center and convenience store is now located. This is directly across the interstate from the newly opened Alcoa Exchange. The proposed development would be bordered by I-30 and Arkansas 5, and would generate an estimated tax revenue of between $1.3 and $1.6 million annually, officials have said. Alcoa Exchange was originally going to be in this location. Benton really lost out on that tax revenue, since most of Alcoa Exchange lies in the city limits of Bryant. Funny enough, most of the parking lot, along with Chili's and Starbucks are in the Benton city limits....but Target, Old Navy, Kohl's, and most other stores are in Bryant. They said that once I-30 was upgraded to 6 lanes, that Saline County would boom...looks like that is the case. Benton & Bryant are growing rapidly in residential and retail, since I-30 reconstruction has finished. Benton also recently annexed 120 acres on Alcoa Road, on the same side of the interstate as Alcoa Exchange. They are planning some type of commercial development there as well. They are not wasting time trying make up for what they lost to Bryant.

[tim2462]

I think the area is getting large enough to support all of the new developments. Using Target as an example: You will not see the parking lot at the Little Rock Target any less empty now, than before when there wasn't one in Conway & Bryant. The area is growing, especially the surrounding suburbs/counties. Also, there will be a lot more people shopping at these places in the suburbs, just because they are there...when in the past, they may not have driven to Little Rock. If there is an impact on the Little Rock tax base, maybe Little Rock will be forced to come up with more "big city" ideas on increasing tax revenue.

[Architect]

I think the area is getting large enough to support all of the new developments. Using Target as an example: You will not see the parking lot at the Little Rock Target any less empty now, than before when there wasn't one in Conway & Bryant. The area is growing, especially the surrounding suburbs/counties. Also, there will be a lot more people shopping at these places in the suburbs, just because they are there...when in the past, they may not have driven to Little Rock. If there is an impact on the Little Rock tax base, maybe Little Rock will be forced to come up with more "big city" ideas on increasing tax revenue.

[theman]

Yes, they may now be large enough to justify the development. Regardless, the fact is that in some respect, these will have a negative impact on Little Rock's influence and tax base. I can assure you that some (signficant) portion of those shopping at the new Target would otherwise have shopped at their location in Little Rock. Same is true for Chili's, Old Navy, etc...

[Architect]

I don't think these developments will effect Little Rock's influence at all. These areas are growing quickly so you would expect retailers would come in and open stores to go with the rooftops. Little Rock is still the government, financial, medical and education center of the region and in some aspects the state. The majority of people in Saline and Faulkner County still come into Little Rock to work. They go to Chili's for lunch and may run to Old Navy as well to pick up something. The tax base may suffer some, but its just the price that a city pays when its suburbs grow.

[Aporkalypse]

Yes, you are correct - Little Rock's influence is little affected by this particular development, but it is a sign of a larger shift. I'm not trying to make a mountain out of a mole hill, but no matter how you cut it, for influential "destinations" that are limited in number and broad in market (such as large name retailers, restaurants, etc.), placing them "upstream" siphons off a measurable number of consumers that would otherwise have patronized locations in the core city.

The fact that "amenities" such as this are more prevalent in the core city justifies and reinforces the core city's signficance and influence in drawing and maintaining residents. When suburbs - for whatever reason - grow to the size (often at the expense of the core city, which is most definitely the case in greater Little Rock) that large scale development is economically viable, it just exacerbates the real or perceived reasons to not have to participate or live closer to the city center. This then has economic ramifications (such as tax revenue), it strains infrastructure, and harms the environment. What I have described is an engine for sprawl.

I realize that to some extent, this is inevitable as the metro grows larger....but I maintain that it is evidence of a dam beginning to break - a shift in influence and population. If growth were occuring everywhere, in Little Rock and in the perimeter, then this wouldn't be a problem. But as we all know, the growth in the metro is occuring outside of Little Rock's tax base, and there are immeasurable negative ramifications to this...

Wow...didn't mean to preach!!

[Architect]

You're right, it's the beginnings of a shift. When Conways builds something like the Gateway Towne Center or Pinnacle Promenade in a decade, it will hit retail pocketbooks in Little Rock. However, the way to offset this is by locating the higher-end developments in Little Rock that will make it worth commuting to shop, which is happening.

Some of this has been happening for a long time. Ashley Furniture chose Bryant and I've bought a fair amount of furniture there and that tax money went to Saline Co. I don't see the suburbs routinely offering stores LR and NLR don't, though.

[Aporkalypse]

Yes, I agree....the tactic will be for Little Rock to continue to offer higher end amenities that will continue to maintain Little Rock's significance.

[theman]

Yes, you are correct - Little Rock's influence is little affected by this particular development, but it is a sign of a larger shift. I'm not trying to make a mountain out of a mole hill, but no matter how you cut it, for influential "destinations" that are limited in number and broad in market (such as large name retailers, restaurants, etc.), placing them "upstream" siphons off a measurable number of consumers that would otherwise have patronized locations in the core city.

The fact that "amenities" such as this are more prevalent in the core city justifies and reinforces the core city's signficance and influence in drawing and maintaining residents. When suburbs - for whatever reason - grow to the size (often at the expense of the core city, which is most definitely the case in greater Little Rock) that large scale development is economically viable, it just exacerbates the real or perceived reasons to not have to participate or live closer to the city center. This then has economic ramifications (such as tax revenue), it strains infrastructure, and harms the environment. What I have described is an engine for sprawl.

I realize that to some extent, this is inevitable as the metro grows larger....but I maintain that it is evidence of a dam beginning to break - a shift in influence and population. If growth were occuring everywhere, in Little Rock and in the perimeter, then this wouldn't be a problem. But as we all know, the growth in the metro is occuring outside of Little Rock's tax base, and there are immeasurable negative ramifications to this...

Wow...didn't mean to preach!!

[Aporkalypse]

I think Little Rock is fortunate in many ways that it is holding population and especially holding the affluent demographic of Central Arkansas from leaving. There are areas outside of LR where you might find a millionaire or two but by and large almost all of the upper class lives in NLR or LR, most in midtown or West LR. Compared to cities like Birmingham, Jackson, and Memphis where this is not the case, we're lucky.

Sure, the days of the suburbanites driving in to Little Rock to go to Chili's or Target are over. Is that such a bad thing?

Right now LR/NLR has Pleasant Ridge (450,000 SF), Shackleford Crossing (650,000 SF). Shoppes at North Hills (866,000 SF), Midtowne Shopping Center (130,000 SF) opening or underway and the Promenade at Chenal (340,000 SF) nearing groundbreaking and Gateway Towne Center (850,000 SF) in the advanced planning stages. That's a total of 3.3 million SF in major shopping centers with smaller ones opening left and right throughout West LR as well. That easily constitutes the vast, vast majority of major retail development in the region.