A MAJOR overhaul of a Bradford retail park has been given the green light by planners.

Improvements to Forster Square Retail Park, including more pedestrian links to the rest of the city, a children's play area and a new customer service building, have been given the go ahead by Bradford Council

The retail park's car park will become a one way system, new cycle parking will be installed and a pedestrian underpass underneath Hamm Strasse will be made "more welcoming".

British Land owns the site and its planning application says the group is looking to "invest in the park to enhance the shopping environment and public realm".

The group says the changes were sought because of the ongoing improvements to the Forster Square Railway Station and the soon to open Westfield development.

The retail park contains some of the city's biggest shops, including national names like Asda Living, Next, and Currys, as well as cafes and restaurants like McDonalds and Subway.

The application says more efforts are needed to be made to to prevent the retail park from becoming a car-only destination.

The plans involve the creation of 40 cycling spaces, new benches and street furniture and an events space. The changes will leave the car park with 18 fewer spaces.

The "customer service lodge" will provide facilities for shoppers include disabled toilets a baby changing area, and an on site security presence.

The play area will be created near the entrance to the northern part of the park, overlooked by the block of cafes and coffee shops.

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Green light for improvements at city retail park

While many Snowmass businesspeople and residents are worried that building too much retail space in Base Village will spread the spending too thin, others believe constructing more space will create a robust dining and shopping scene there.

The question of what the right amount is has become a hot topic as Related Colorados application to amend the current approvals on the project wends its way through the Planning Commissions initial review, now expected to wrap up March 4 after another continuance Wednesday.

While its a question that would normally be settled in the second phase of the towns land-use review process, Community Development Director Julie Ann Woods noted Relateds proposal to reduce the amount of retail in Base Village as something to look into early on. The town also hired a consulting firm to conduct an analysis of how much retail Base Village could support, which concluded the development could carry much more than is being proposed.

At last weeks Planning Commission meeting though, Base Village restaurant owner Scott Calliham cautioned against using the same assumptions that went into the planning of the Aspen Highlands base, which now has become more popular for offices than for shops or restaurants. Woods, however, thinks Highlands is a different beast, as it is distant from Aspens core rather than in the midst of it.

Were basically one village, Woods said. And yes, theres three different commercial areas, but it was envisioned that way. Im not concerned that well end up a ghost town.

Woods recognizes that visitors to Snowmass will still go to Aspen to shop and dine, but she thinks the village could still offer more for guests to do in the evening. A survey of visitors conducted by Snowmass Tourism last year showed that guests were most disappointed by the lack of variety of bars, restaurants and nightlife and early closing hours in the village, she said.

So why wouldnt we be looking at that as we move into the next stage of development? Woods said.

Members of the public have mixed feelings about the issue. Job Moraes, manager of the Performance Ski retail store in Base Village, thinks the area would benefit from more shops and restaurants.

I think thats going to attract more people to the base, Moraes said. I think that would be a good idea.

However, real estate broker Andrew Ernemann echoed the concern about following in Highlands footsteps.

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Snowmass continues to ponder right amount of commercial space for Base Village

Rendering of what the proposed Daytona Beach outlet mall might look like.

DAYTONA BEACH The $100 million outlet mall project that's expected to create 300 construction jobs and 800 permanent jobs took another step toward reality Thursday night.

The city's Planning Board voted unanimously to rezone 39 acres south of LPGA Boulevard and east of Interstate 95 from industrial park to planned commercial development uses for the roughly 400,000-square-foot retail shopping center.

Site work on the vacant undeveloped property could begin as early as this summer, bringing Volusia County closer to a new place to shop, 400 full-time jobs with salaries ranging from $32,000-$52,000 annually and $700,000-$900,000 each year in new local property tax revenues, said Rob Merrell, the Daytona Beach attorney steering the project.

I am more than tickled pink, Planning Board member Cathy Washington said. Not having to travel to Orlando or St. Augustine is just a jewel. It's something that's been needed a long time in this area.

If all goes well with a few more approvals needed from the City Commission, sometime in 2016 or 2017 the new retail cluster could bring in big-name stores like Banana Republic, Calvin Klein and Nike.

I don't think there's any way you can be negative about what this will do for commerce in Daytona Beach and Ormond Beach, Planning Board member Bob Hoitsma said.

It would be the first outlet mall in Volusia and Flagler counties, and it would be roughly 50 miles from the nearest outlet mall to the north the 340,000-square-foot St. Augustine Premium Outlets complex at the I-95/State Road 16 interchange in St. Johns County and roughly 60 miles from the nearest outlet mall to the southwest, the Orlando International Premium Outlet along International Drive.

The force behind the Daytona outlet mall is Greensboro, North Carolina-based Tanger Factory Outlet Centers Inc.

Merrell told Planning Board members that Tanger has created 45 other outlet malls since its first in 1981, and the company now has 14 million square feet of retail space with 2,900 individual stores. According to its website, Tanger has retail centers spread across the U.S. and Canada, but its only existing Florida mall is the 22-year-old complex in Fort Myers that generates about $500,000 in property taxes annually.

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Outlet mall gets thumbs-up

Dave Webb has been working at Maryland's Wholesale Seafood Market in Jessup since 1984. For two thirds of those three decades, he has been manning the state-run center's only retail outlet: Frank's Seafood.

So when the longtime owner of Frank's suddenly closed the market in September 2014 for personal reasons, few people were more affected than Webb, although he certainly wasn't the only one lamenting the loss of the Howard County mainstay.

"The customers were shocked, devastated," Webb said recalling the shutdown. "That's where people shopped for fish Frank's Seafood."

Starting this month, thanks in part to Webb, customers will again have an option at the center as New York-based Wild's Seafood has opened a retail market inside the space formerly occupied by Frank's.

The market, which opened last week, is scheduled to have a grand opening Saturday, Feb. 28, says Webb, who was brought on to manage the new market. The market's hours are 9 a.m. to 5 p.m., Monday through Saturday and 12 to 5 p.m., Sunday.

Webb says Wild's aims to deliver the same seafood that Frank's did for decades. The list includes fresh crabs, lobster, shrimp and all types of fish. The market also sells some frozen items and ancillary seafood products. Webb said the main product is crab, and that the most popular times of the year are summer holidays like Father's Day, Mother's Day and Independence Day.

According to John Hong, the accountant for Wild Seafood, the New York-based company was interested in expanding it's reach in the Washington, Maryland and Virginia area. It currently operates two markets and one restaurant in New York.

Hong said Wild's identified the space shortly after it became available, but the opening has been delayed because of construction. Grandfathered status allowed Frank's to bypass certain health regulations that Wild's had to address to meet code requirements.

Rose Harrell, director of facilities for the Maryland Food Center Authority, the government agency that owns the location and leases it to tenants, said it was important to replace Frank's and provide a retail outlet to customers.

"We really wanted to get another retail company in that facility," said Harrell, adding that the state agency was happy that Wild's showed an interest.

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Wild's Seafood replaces Frank's in Jessup

In Mongolian

A cooling economy, persistently high inflation and tighter credit regulations will maintain pressure on Mongolias retail sector throughout 2015, though demand for shop space in certain segments remains strong.

In its latest update on the Mongolian economy, the World Bank said double-digit inflation and the high current account deficit had affected domestic demand, adding momentum to the pressures on the economy. Without a strong rebound in foreign investment, pressure on the balance of payments will increase vulnerabilities and continue to dampen economic growth next year. Domestic demand will continue to be under pressure, particularly affecting the non-mining sector, the bank said at the end of 2014.

The non-mining segment of the economy was dragged down by weakness in the construction and wholesale/retail sectors last year, with these pressures set to continue. According to the World Bank, the wholesale/retail segment contracted 6.8% in the first nine months of 2014, having experienced a similar rate of negative growth in the same period a year earlier.

As growth in the sector has slowed, there has been a near threefold increase in the level of non-performing and past-due-date loans, which were valued at MNT227bn ($113.5m) at the end of October, accounting for 21.6% of problematic loans across the economy.

Retailers are likely to be affected by tighter lending requirements and higher interest rates introduced by the Bank of Mongolia (BoM) in 2014, which led to a slowdown in private sector credit growth to 22% in October, down from more than 53% a year earlier.

Despite a weaker performance in 2014, new investments are still being rolled out. In mid-December, property management and development firm Mongolian Growth Group (MGG) opened the first stage of the Tuguldur Centre, an 80-year-old building which has been renovated to accommodate a new retail complex in Ulaanbaatar, close to the capitals business hub. The property is 99% leased, according to MGG, with strong interest in its second stage.

In a statement issued to investors at the beginning of 2015, Harris Kupperman, MGGs chairman and CEO, said the company had at least one other retail development in the pipeline, targeting the same market as the Tuguldur Centre. This suggests that prime retail space remains in strong demand in the city centre, despite the economic slowdown.

Local retailers are also looking to increase their profile in secondary urban centres away from the capital, tapping into a growing affluence brought about by higher employment levels and earning power stemming from the development of the mining and industrial sectors in more remote areas. While Ulaanbaatar remains the main population and economic hub, cities in the north and east are expanding, offering retail opportunities.

This expansion was given added impetus in late December when the European Bank for Reconstruction and Development (EBRD) announced it was extending a MNT23.3bn ($11.63m) loan facility to retailer Nomintav Trade. The company, part of the Nomin Group, specialises in fast-moving consumer goods, apparel and consumer electronics. The funds will be used to support development of six new outlets in various regions, as well as in Ulaanbaatar itself, where it already has a significant presence.

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Tight times for Mongolias retail sector

Real estate looks forward to a good year, buoyed by BPOs and the resurgence of retail, leisure and gaming

BULLISH. Philippine real estate looks set to enjoy another good year. File photo by Rappler

MANILA, Philippines The prospects of the Philippine real estate industry this year are bright, anchored by the continuing growth of the Business Process Outsourcing (BPO) sector and supported by the resurgence of the retail, hospitality and gaming sectors.

We just rang in the year of the goat during Chinese New Year, but this certainly wont be a goat year for Philippine real estate. Its going to be another strong year, said Rick Santos, founder, chairman, and CEO of CBRE Philippines.

CBRE Philippine is the local subsidiary of the CBRE group, the largest real estate services company in the world.

The BPO sector remains the top driver for investment in the country due to the countrys cost-effectiveness and demographics dividend, according to CBRE.

The continued expansion of the BPO sector has also significantly accelerated the services sector, which has grown at 3.3 percentage points of the GDP and is the top drawer of economic growth in the fourth quarter of 2014, he added.

By 2016 BPO revenue is estimated to exceed $25 Billion (P1.10 trillion) and $48 billion (P2.12 trillion) by 2020. With that amount of money coming in, businesses linked to the sector will see great opportunities, Santos said.

The sector continues to be the main source of demand for the office market, according to John Corpus, director of agency and brokerage at CBRE. The Philippines has overtaken India in voice call centers including Western banks and IT firms due to client preference for local English accent. Call center numbers are growing at about 20% per decade, he said.

Corpus added that for every one BPO job, an additional two and a half jobs are created in construction, administration and services and in this way, they build cities.

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No goat year for PH real estate in 2015

This is an original rendering of what the hotel and pool at the Chateau were to look like.

By Kathryn Reed

A 32-room four-star caliber hotel is being designed in what will be the next phase of the Chateau project in South Lake Tahoe.

Accompanying it will be a swimming pool, spa, nearly 19,000-square-feet of retail and open space. The pool will be designed to accommodate what will eventually be two hotels. This first one is permitted for 115 units, while the larger one is for 365 rooms. The bulk of the commercialwill be completed in the next phase.

No price is being put on what the next phase will cost, though it is in the tens of millions of dollars range. The opening date could be winter 2017.

Design plans have been submitted to the city. Lew Feldman, attorney for the project owners, says construction could start this fall.

It really is a testament to where the community is headed, City Manager Nancy Kerry told Lake Tahoe News. She added that it is especially significant so soon after the initial retail phase of the Chateau opened.

Thisadds to the 10-year goal, with this being year two, of having $1 billion of private and public money invested on the South Shore. To date $300 million has been spent on upgrading the built environment.

Tahoe Stateline Ventures, the company formed to develop the 11-plus-acre site near the state line, is incrementally building out what was to be a convention center, two hotels and a retail complex. That was the plan that was permitted by the Tahoe Regional Planning Agency in 2008, but which got derailed because the original developer filed for bankruptcy. With the dissolution of redevelopment and the city not having a role in the project anymore, the likelihood of a convention center ever coming to fruition is slim to none.

What that aspect of the project might become remains to be seen.

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Hotel component of Chateau in design phase

Stanhope student apartments are scheduled to finish construction in early August, bringing more than 800 beds and 25,000 sq. ft. of retail space to Hillsborough Street.

Stanhope is located at 3001 Hillsborough Street, across from Cup-A-Joe and expected to have primarily NC State undergraduates as residents.

John Kane, the developer of Stanhope, is also the developer and owner of North Hills, an upscale outdoor shopping mall. Because of Kanes reputation and success with North Hills, there is much anticipation for the opening of Stanhope.

Kane Realty is offering students and faculty from the College of Design the opportunity to submit artwork, wall installations and sculptures for Stanhope. If selected, the creations will be permanent to the building. The deadline for submitting artwork is the end of March, and the winner will be chosen in April.

Jeff Murison, executive director of Live it Up! on Hillsborough, a community service corporation that advocates for the revitalization along Hillsborough Street, said [Stanhope] is going to be a fantastic building, will hold a little over 800 beds, great amenities like a cyber caf and infinity salt-water pool.

Elyse Pizzella, a junior studying chemical engineering, will live in Stanhope apartments next semester.

Its a little pricey in comparison to other options off-campus, she said. There are other apartments and houses off Gorman and Tryon that arent as expensive, but I think for the location and price it will be worth it.

The two-bedroom rate at Stanhope is $805, while Valentine Commonss two-bedroom rate is $750, and College Inns is $765.

In addition to the residents, Stanhope will bring a commercial space below the complex.

I am extremely confident we are going to see whether its a cool new restaurant, bar and nightlife, some great new retail. The mix of businesses are going to be a great attraction to students, said Murison.

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Hillsborough Street sees multi-million dollar investments

This PROFESSIONAL SERVICES CONTRACT (Contract), made this ____________ day of __________________, 20__, is entered by and between _________________________________, a professional home or building inspector (referred to herein as the Inspector), and __________________________________, a professional consultant licensed or certified in the field of ___________________________ (Consultant), for the solicitation and delivery of professional consulting services as more specifically set forth in the following terms and conditions of this Contract.

RECITALS

WHEREAS, this Contract relates to the inspection of a structure (referred to herein as the Property) located at the following address: _________________________________________________________, and

WHEREAS, this Contract is made in conjunction with the Inspectors separate contract with a third-party client (Client) for a general inspection of a residential or commercial building, and

WHEREAS, the Inspector requires the professional services (referred to herein as Services) of the Consultant as described in the Statement of Work, attached hereto and incorporated into this Contract as Exhibit A, in the performance of the general inspection for the Client, and

WHEREAS, the Inspector intends to utilize the work product produced in the course of the Services as described herein to assist in the general inspection of the Property and the preparation of a written inspection report for the Client, and

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International Standards of Practice for Inspecting ...

February 20, 2015

Deal Watch Today

The developer building a downtown Hartford ballpark says it needs $20 million in public funding to include affordable apartments in its next development phase that also envisions a supermarket and parking garage.

Officials with developer DoNo LLC appeared at Thursday night's regular meeting of the Capital Region Development Authority and outlined its plan for the proposed $105 million project directly across Main Street from the ballpark now under construction.

The yet-unnamed project would include 328 one- and two-bedroom apartments situated atop street-level retail space that would include a 62,430-square-foot supermarket, plus another 33,000 square feet of extra retail space, and a 705-space parking garage. Twenty percent, or about 65 units, would be earmarked "affordable'' and offer below-market rents; the rest would be priced to the market.

Yves-Georges Joseph II, vice president of development for Centerplan Development LLC, a partner in DoNo LLC, told CRDA board members that preliminary talks have been held between DoNo LLC and staff of the qausi-public agency about what form their financial partnership might take.

Originally, the mixed-use project was conceived to be built with private financing, Joseph said. However, feedback the developer got about the entire DoNo development project from city officials, residents and other "stakeholders'' insisted that some of the apartments have rents tied to the median income of city residents, he said.

To do that, DoNo LLC calculated that injecting an affordability feature into the apartment project would create a private "funding gap'' of $20 million that CRDA could fill, Joseph said. DoNo assumes a monthly affordable rent of about $650 a month for the units, based on city residents' median income of $35,000 annually. The gap reflects the "funding hurdle,'' Joseph said, that the developer would have to cross to sway investors skeptical about the lengthened recovery period for their investment from having some apartments rent for less than others

The CRDA made no specific commitment to DoNo LLC's proposal that the two partner in financing the mixed-use development but both sides indicated their discussions will continue.

However, Joseph reminded the panel that DoNo LLC's develpment contract with the city requires ground for the mixed-use project be broken by November, which means financing must be completed by Sept. 30 to meet that timetable.

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$20M sought to make DoNo apts. 'affordable'