930in716 September 14, 2017 The Eastern Hills Mall

930in716
Thursday, September 14th
00:17:32

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

It's 930. In 716. Fewer and fewer people it seems are going to the mall. On the podcast. The age of the mark. Closed malls today ending. And it appears the end of the concourse. For the eastern hills of. All retail department store and mall sales have declined from. Seven point 4% of total US retail sales to two point 6% so it's a real accelerating. Ice age for balls. And we entered issue to the newest member of the buffalo school board sign it pediatric psychologist at an insurance hospital awful so I work in the he intelligent ecology division. I'm Tim Wenger first word this week the owner of the eastern hills mall mountain development. Is either looking to sell the complex out right or enter into a partnership to develop a so called. Lifestyle center that would include retail. So what is happening to the mall in general not just here. Return to bird which injure or Western New York native and expert on this subject with the strategic research group. Summer circuit resource group work that we just it shows that just and reaching years. Retail department store and mall sales have declined from. Seven point 4% of total US retail sales to two point 6% so it's a real accelerating. Ice age from balls especially. B rated malls. Which eastern hills does but it's not that got the ball all. Either they're cute they're complete and transformational. Things done. But it's gonna require a requires some government leadership and probably bringing it. The dynamic Canadian pop. Firm Brookfield asset management out of Ferraro. Led by Bruce Flatt and and John Pawelski who core clients overseas did canary war in London. But about development which currently owns it they're sailing it's great that office towers they only have. To mall properties eastern hills is the biggest and other than JC Penney and parks like candy there are it is a lot of success in the eastern hills now so it has to be dynamic re engineering. Looking at consumers' attitudes toward malls. Is there a total shift away from any sort of value placed in. Trying things on you know touching feeling something before you combine that. There I had this big great big good thing about eastern hills mall it's is JC Penney and one of the great retail writer sciences that. I've modern retail history so for example they have. So for a Brian we are doing her research during Fashion Week and in Paris. So for an excellent police say again I get so I have more customers and it's like ships to work. Every day in the Eiffel Tower doesn't supports Oprah shorter hours because police can't handle volume. So I'll between that the salons. The toy stores. Up and it penny is is is really going through some. Dynamic times. In an addiction Knick coach rocker in Wakefield the broker for round development circles ball. While both of which specialized primary and office development. Up Brookfield asset management uttered Ronald does our restaurants they'd do multi use office Stanley towns that are. In naked. Hold on mark up pulling cars. And Erie county and now mayor Byron brown with his side dynamic out victory in Erie and Niagara county all the way from. It downtown waterfront it congressman Higgins vision. All the weight grew up in Niagara river tonight also really helped Bob flaw in Niagara county what about Brooke Shields got control Rhonda what they've done it. I'll London which is just spectacular and really help save eastern hills which is. Our great customer achieve demographics are great location just just the justice. Really on a rough retail like Asia and retailers which is understate the ball now and your Susan's operation points. They've really they really need of retail reset badly vote because it's. Multi struggling but the 88 malls are continuing to do well this is Brookfield has sent. The waterfront in Manhattan in their recent development should do very well from. I eastern hills on the ball low waterfront. To the Niagara Falls waterfront on the US side as well. What do you see a lifestyle center or town center working here in place of eastern hills mall. I'd date I'd definitely do. You really have to protect that JC Penney. Side of the key because that beat between. Service selection even collapse from Rodney Dangerfield in back to school they do everything from mob pagan all with. The obesity of Western New York it. Across America is so so lob plots plus sizes. To great passion and I did it Disney property for the kids and in everything else they keep. Penny is the key anchor keep parked like Indian and they keep popular. Local vendors potentially get Michael Margolis time is dynamic team. In new buffalo graphic at duke duke combination of open local. On top US and Canadian shops there's a lot of great action designed. Coming out of Cornell University where I'm on the op board for the institute. Perfection indentation at. Art fiber design. And that they're they're so there's a lot that that can be done there. But you have to have. A new revenue basis and in in terms of quote tells we're we have the bills game in the Smithsonian. People coming. So look at them like captured Schwarz in the beard Foundation's historically development and buffalo Frank Lloyd Wright Richards insolvent. I can get a hotel world between on Niagara and Erie county all the way down to James town. Last week and Brookfield rated hotels on a greater residential rated office. And greater retail of that town's center can be done. Now to the eastern hills mall specifically we go right to the top of the owner and talk with Bob leave. Chairman and CEO. Of mountain development. The Asian media are closed malls and ending. It's happened in us. Let us. Nations close this story about a year ago. We probably bought it because in order to keep them all one piece. But retailing that was changed. And we felt that this was the appropriate time that Clarence glamorous and the general buffalo area. Really needs a new retail concept in a new concept for this great property. Rob has your group turned a former shopping mall in to a lifestyle center or town's center somewhere else around the country. No we haven't studied the a lot of projects that have been done and Ohio Texas. And throughout the country. And having looked at we picked yet. These demographics or arms Amber's. The general area such that it ideal a lot of location for this kind of a project. When we say lifestyle center and I kind of explain what exactly that means. Well from our view. And that's how long term vision to create this. That it has. It out standard read about combines many many real estate uses. Including retail. Residential. Office hotels restaurants entertainment. Personals services health services. And educational facilities. Well properly and not it basically creates a new town center community. Would you not solely dependent on the re but brings in apartment living that young people seem like. Mixed with the sound down shirt type of thing so what they're moved to the whole villages at least they have about a hundred years. What reaction are you getting since news broke about the mall just a couple of days ago. Well getting a lot of calls a lot of interest. We decided that this is such a major project that step. When water to find suitable joint venture partner. Which route would assist us in capitalizing sharing leadership. We like he had someone that can. Do the local work and we've spoken to a budget of the major people in the city of buffalo. And in the area who are adjusted. If you have everything that is ice issues with the property. And we remain very very optimistic we stayed within the lights are we have a terrific general manager Russell who. Who is encourage young out of doors. That's what basically almost 9590%. Occupied. And what applied to places where all these people in the new property. So in order to do that we have to create many mixture of many users. And we had several conversations. With the local administration in Clarence who are generally very supportive of the concept. The mall itself that the property that we're talking about is much more than the mall structure I mean it's a large property there right. There we have approximately eighty acres that equity. The here is our soul and that. Sears is still operating there. Is some or lose hope to be able to be in a position. Who purchased that property and edited picture is probably hundred acre parcel redevelopment. We could almost split the property and and still come up with the town sinner and then sell the rest right. Well we want to keep it as always wanna stay involved we bought the moral. 200340. Years ago and we love the property people look Clarence you bothered you about well. I get started when I went to school there. The last century as they call it. And graduated facto losing to Europe radio broadcasts more you provide immediate. My waking up in the area it's a beautiful day in buffalo. That's that's how I woke up as got my school days. We don't think it's great they have buffalo we think that what's been happening in. Downtown and did. You know these guys ever has been terrific and we think it's a primary or two rest is arguably our efforts we like to do lies we bought. And does it Cordova mayor square foot. Hell yeah they're little lots medical group in New Jersey. We bought a large. Water and about 50000 foot. Facility where I am Merck pharmaceutical companies and reposition that so we're used to doing these are projects. That is what we felt we needed so local help. Local people and some financial assistance because it is a major bridge right. The eastern hills moll is an institution in Clarence and the Clarence town supervisor of course watching with great interest in what's happening. Pack two so Leo is the supervisor. We've been talking now with a mall for about two years. Now on this project that they're working on. Well are you getting behind this plan. We we talked with Bob leave this morning from mountain development about possibly turning this into a lifestyle center or town center. Absolutely absolutely where we're looking forward to a lot successful completion for the project. Now what time lying is the town hoping for here. Well you are I don't know like I looked into an interview and I don't know all the magic yards it's about a 300 million dollar impact of the talent. But he's looking for a partner and long form or another for the project especially without. Expertise and fields as far as residential real estate. But you know our I imagine lying when he. Has this partners in place that a lot of moved ahead quickly and it's not required to prepare to move ahead quickly also was to serve resolving. What support can attentive to dance. I'm in well certainly the talent has the address and has we have all the utilities they need to support project like dad. On the IBA can have a little impact candidate you know ideas cannot invest in hand and he retail. Democrats now but there are other aspects of the project that we can offer IDA held to a project also. Now for the talent the property itself is very valuable way and seen that it would be done in a good way has to be pretty top priority. Yet but it's the most valuable address and count me in a trance that arm as I mentioned it has utilities. The sport product like that families have been a little bit tower Clarence especially on the retail side and I have the reference the car dealerships. BMW. Dealerships sales went up three times when they moved to the top McLaren Mercedes. When angle for a city about what been very successful. All self. And that certainly plan to hire around retail establishments smaller store tire Brandon. They feel that they can rock. He earned from our Canadian customers with a different type of our trapping atmosphere that does not offered and other stores in this area. Patrick what do you envision going there in the future what kind of a mix DC. Well what we're looking at three out of it Crocker park which is in Cleveland I was very successful. Overlay district in a city center. We're looking for something similar to that men and naturally that the residential side of it that it would be multi story. So what could possibly have read a 5000 people living at the mall someday. Now when you're talking about say adding residential. Properties at a different types of retail on their huge ship property that sits there now boy I mean nearly a hundred acres. Of land. Are we looking at potentially in the future may be adding streets they're opening it up even more for traffic off the transit road. Yeah that would be broken up and do. Our streets. I probably probably leaders privately owned by tomorrow but would definitely be opened up to new streets and new hope towels. The red and installment. Would be. Free standing in all low ball the retail stores that they have tentatively planned. On for that location. And finally today on something else let's introduce you to the newest member of the buffalo school board. Her name is Catherine lanigan pre or he she replaces ousted Carl Paladino. On the board and here she is. So I aim at pediatric psychologist to limit children's hospital of buffalo so I worked in the human touch yeah ecology division. With children who have a pediatric cancer diagnosis. And or a non malignant blood disorder. Coming due valuations of those children their feelings do home visits to bereavement work to school outreach programs. And just try the best I can to support families and children who are facing chronic illness let's. Definitely that was right. On group. I. Sure I think I would say that I'm here to offer fresh perspective and continue to represent the park district. And I want to hear from the people that voted for him as much as the people who didn't vote for him. To make sure that I aim representing the needs of the district. Had there been people with in the park district reached out here and said hey this is why I like to see the ball close schools. I haven't heard so much of that as much as people have reached out to me offering their support. And down in throwing out you know hey give me a call drop me attacks and mean email you need something I'm here to support you congratulations welcome those kinds of things. Who group. I immigrated actually mount mercy academy. I guess I'll have to me that decision anybody iron half of things. What motivates you wanna run for the school board here all the publicity that had in recent months would Karl. Cutters. But the publicity was certainly there he's in I can see that at best he's in pretty interesting. It was in our eyes conversation between my husband and myself. In which he's that I feel like the school board needs you feel play. These children need you feel like you know something offer that other people don't necessarily have to offer and I mall then over for about ten days before. Ultimately submitting my materials to the board of education. That typical to. To sit in the seat knowing that a candidate before you and controversy. I don't think so for me personally the only thing that is bank a little bit challenging is handling the happy media call because certainly need. That's not what I typically you typically him. Sitting in half hours with children where. And so that's been a bit different from means certainly is pushed me beyond my comfort zone of and that's 930 in 716. We're back tomorrow with a net a radiation from the studios of WD EA and buffalo.
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