OLEAN The long-awaited return of economic activity to dormant industrial land in north Olean inched forward Monday.

The Olean Planning Board took little action that evening on plans for an approximate $17 million redevelopment project submitted by Krog Corp. through its limited liability company, Olean Gateway, for 1404-1406 Buffalo St.

During the boards two-hour meeting, Krog Corp. representatives made a brief presentation the project. Their presentation was followed by board members going through the project application line-by-line for about an hour-and-a-half. At the end of their review, the board began a process to serve as the lead agency completing an environmental review of the project. A SEQR (state environmental quality review) is required for all major construction projects in New York.

Krog Corp., an Orchard Park-based development firm, plans a five-phase project for the almost 60-acre lot. Major elements of the project include the construction of a four-story hotel and neighboring retail complex comprising five buildings. HK Olean Hotel LLC is overseeing the hotels construction and development, while Olean Gateway LLC is overseeing retail complex component of the project. Both limited liability companies fall under Krog Corp.s umbrella.

Krog Corp. representatives focused their presentation on the projects first phase building the hotel and some of the retail spaces, as well as a restaurant. In addition they discussed their planned construction of a new city street leading into the property at the intersection of Buffalo Street and Constitution Avenue, and the installation of new water and sewer utility lines. Other aspects of the project include putting in new sidewalks and a driveway for the neighboring Verizon building.

We dont have any specific tenants yet for the spaces and its premature to discuss any (hotel chains) looking at the hotel, Chris Wood, an engineer from Carmina-Wood-Morris, the Buffalo-based architectural firm designing the project.

Arnie Cubins, a senior project manager from Krog Corp., told the Times Herald after the meeting that his company is currently taking with several retailers interested in leasing space.

Construction is targeted for a May start and would take most of the next year, should the project garner all the approvals it needs from local and state authorities. The remaining four phases would be completed by 2020.

During actual construction, Krog Corp. would put the new city road in and eventually, deed it back to the city, Mr. Wood said.

The hotel and retail complex is the first major project at the site, which has sat unused for decades. The Buffalo Street property is part of the citys brownfields, a 500-acre former industrial area abutting Interstate 86 in North Olean where contamination has impeded redevelopment.

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Board hears plans for hotel, retail plaza in citys brownfields

December 8, 2014, 11:24 PM Last updated: Monday, December 8, 2014, 11:41 PM

After years of staying behind the scenes, the developer of the mega-entertainment and shopping complex American Dream stepped onto the big stage Monday in New York. As a list of major, committed tenants and other details of the project surfaced over the weekend, Triple Five Group made sales pitches to other potential tenants for the untried retail concept at the International Council of Shopping Centers annual retail convention.

Triple Five, based in Edmonton, Alberta, paid to have the American Dream logo pasted on the entrances of the Jacob K. Javits Convention Center, and signed on as a corporate sponsor of the convention. Its booth at the event features flat-screen televisions that flash artists renderings of the Meadowlands project as well as promotional materials. Triple Five also took an ad in the convention program with the words Shop American Dream. Opening Holiday 2016.

Related: Retail giants lining up, American Dream says

In a status update on the project, Triple Five listed by name 50 retailers such as Victorias Secret and Gap as committed to American Dream, and said it had letters of intent to lease from 155 retailers and 93 completed leases from unspecified retailers. Yet despite the raised profile, a spokeswoman at the Triple Five booth Monday said the developer was not doing any press interviews about the project.

Even as Triple Five rolled out its tenant list for American Dream, there are lingering doubts that the project will get off the ground, given the history of failed retail ventures at the Meadowlands. Commitments to the project are not necessarily signed contracts. Opinions among the real estate executives interviewed at the convention Monday were evenly divided about whether the complex rising next to MetLife Stadium is a sure thing or a tough sell.

However, North Jersey real estate brokers agreed that American Dream is different enough to not affect deals they have in the works, even though the project is looking to sign several hundred retailers.

North Jersey brokers said they are seeing high demand, and even bidding wars, for prime locations in retail categories, from downtowns to freestanding stores, to shopping centers. This years convention drew 9,500 attendees, a record number, and almost 2,000 more than last year, a sign, brokers said, of the strength of the retail sector.

But even in a booming market, American Dream could be a tough sell, some brokers said. One particular problem is that retailers have heard a sales pitch before for a mall in the Meadowlands.

Now they have to be resold, said New York broker Faith Hope Consolo, who does deals with the types of luxury and fashion retailers Triple Five is hoping to land. She noted that Triple Five is the third developer to pitch the project in the past 11 years. Reselling is harder than selling, she said. Retailers have heard the pitches but have also seen the shell of the former Xanadu version of the mall sit empty, Consolo said.

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American Dream pushes its vision at retail convention

PLANS for the second phase of Prestatyn Retail Park look set to be given the green light.

An expansion of the multi-million retail park is to be discussed by Denbighshire Council's planning committee at a meeting on December 10 with planning officers recommending the application for approval.

The proposals include the demolition of the existing retail units at the former Iceland and Bevans Homewares site, and the construction of a terrace of four new retail units, the reconfiguration of the existing customer car park, associated landscaping, pedestrian and vehicle access works and an extension to the existing staff car park.

The councils economic and business development team said: The completed phase of the Shopping Park has already brought additional visitors to Prestatyn and created new jobs in the town centre.

This new phase will enhance the town's retail offer still further and the improvements to the connections between the Shopping Park and the High Street proposed in the revised scheme should help other parts of the town centre to benefit from the additional footfall which will arise from this investment.

Objections have been made to the plans in regards to concerns about increased visitor traffic, lack of turning space for delivery lorries, the height of development being above the existing roofline, loss of retail parking space, poor pedestrian safety at Glyn Avenue and Nant Hall Road roundabout and poor visual aesthetics from Nant Hall Road.

The plans have been reccommended for approval by planning officers. The report stated: Further retail development of the type proposed will enhance the offer in the

town bringing a further boost to jobs and the economy of the area. Any potential negative impacts are outweighed by the positive economic benefits.

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Phase two of Prestatyn Retail Park set for green light

BROOKHAVEN One of the only large open parcels of land in Brookhaven is a step closer to becoming a shopping center.

The borough approved zoning changes and preliminary development plans last week for a controversial proposal to build a supermarket and retail space.

Some residents have spoken out against the development, arguing that their borough has little remaining open space and many vacancies in its existing shopping centers.

The property, on Edgmont Avenue, is owned by the Chester Water Authority and also holds a baseball field leased by the borough. The water authority plans to sell the property to New Jersey-based Retail Sites.

No timeline is set for construction; the developers still must present final plans to the council, said Borough Solicitor Mike Maddren.

- Laura McCrystal

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Development plans approved for new Delco shopping center

NASA Headquarters, in Washington, provides overall guidance and direction to the agency, under the leadership of theAdministrator. Tenfield centersand a variety of installations around the country conduct the day-to-day work in laboratories, on air fields, in wind tunnels, and in control rooms. Together, this skilled, diverse group of scientists, engineers, managers, and support personnel share the Vision, Mission, and Values that are NASA.

To implementNASAs Mission, NASA Headquarters is organized into four principal organizations called Mission Directorates:

Aeronautics: Pioneers and proves new flight technologies that improve our ability to explore and which have practical applications on Earth.

Human Exploration and Operations: Focuses on International Space Station operations and human exploration beyond low Earth orbit.

Science: Explores the Earth, moon, Mars, and beyond; charts the best route of discovery; and reaps the benefits of Earth and space exploration for society.

Space Technology: A catalyst for the creation of technologies and innovation needed to maintain NASA leadership in space while also benefiting America's economy.

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NASA Headquarters | NASA

Foreign Investment In Condos, Apartments, Retail Fuel Latest Development Wave in Sunshine State

Apartment and retail developers have been especially active in this next wave of activity hitting South Florida shores. About 2,700 units apartment units delivered in 2013 and another 3,700 units expected to deliver this year, the first two consecutive years of increasing multifamily construction since 2009, according to CoStar Portfolio Strategy.

The mixed-use Worldcenter across from the American Airlines Arena in downtown Miami will bring around 750,000 square feet of retail space through a joint venture between the Forbes Co. and Taubman Centers, with Macys and Bloomingdales signed as anchor tenants. The first 10-block phase of the $2 billion project will include retail, residential towers, an expo center and a hotel. Developer Daniel Kodsi has unveiled plans for the 60-story Paramount Miami Worldcenter residential tower, which along with other elements of the project is scheduled to begin site work in the first quarter of 2015, with vertical construction planned for midyear.

It's a scenario repeated across most property types in Miami and other South Florida markets, where some of the nation's largest private construction projects are under way or on the drawing board. The latest developments are being fueled by a strong local economy led by tourism, foreign investment and the resurging professional and business services sector.

Investors from Europe, Russia, the Asia/Pacific and the Middle East have joined Latin America capital, which historically dominated investment into Miami and South Florida, Neisen Kasdin, vice chairman of the city's Downtown Development Authority and Miami office managing partner at law firm Akerman LLP, recently told CoStar News.

Argentine investors, once a small part of the Miami property market, have emerged as particularly active in South Florida of late. A group headed by the family that owns Coto Supermarket in Argentina recently bought a 1.25-acre parcel at 300 Biscayne Boulevard Way on the Miami River for a record-setting $125 million. The land near the Epic Residences and Hotel, which could accommodate hotel, residential, retail and office uses, features waterfront access with the capacity to dock boats.

"We are seeing a shift of focus towards clientele whose interests lie in development projects," said Octavio Rinaldi, CEO at CWV Realty Group, the Miami-based real estate investment and development company which negotiated the land sale. "The Miami market has re-emerged as a lucrative investment market."

Multifamily development remains strong even as rent growth has begun to slow down in Miami after several strong years. New apartment, retail and mixed-use projects continue to start across the metro almost weekly, particularly in the Brickell submarket.

Strong pre-sales of new condo construction in the coastal Miami market reflect hot demand for new properties, according to the latest new construction market report released late last month by Cranespotters.com and the Miami Association of Realtors. At the end of October, nine new condo towers had been completed year to date in Miami-Dade County east of I-95, with 54 under construction, 62 approved but not yet started, and 66 towers announced but not yet approved.

"South Floridas preconstruction condo market is booming east of Interstate 95 in the tricounty area as the area heads into the winter buying season," said Peter Zalewski, founder of Cranespotters.com. "Industry sentiment suggests that preconstruction condo sales are expected to strengthen further during the upcoming historically busy winter tourism season."

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Construction Cranes, Foreign Investment Soar In Red-Hot South Florida

Baltimore, Maryland (PRWEB) December 04, 2014

The south end of Charles Street was once a rather unattractive industrial area that lacked the same notoriety that the rest of Charles Street has long enjoyed. Over the past few years, South Charles Street has been undergoing a major transformation. The first major improvement was a new luxury apartment community known as 1901 South Charles that opened in 2012. This community brought 193 luxury apartments and a clean, modern look to what was once a blighted industrial site. Currently under construction, 2 East Wells is another major improvement to the area and promises to bring 153 industrial-chic apartments and 6,000 square feet of retail space along Wells Street.

The site at 2 East Wells was formerly the home of a large warehouse and office building that was adjacent to the 1800 block of Charles Street, the 1800 block of Light Street, and the unit block of East Barney. The buildings were razed and the property was environmentally cleaned. Construction on 2 East Wells began in late 2013 and should be complete in early 2015.

The buildings exterior will feature several different types of material to give the look of multiple buildings. The first floor retail space will feature glass fronts and there will also be streetscape improvements along the perimeter of the building which will drastically improve the look of the area.

2 East Wells is classic Baltimore, with its warm brick faade, industrial-style, floor-to-ceiling multi-pane windows and, of course, roof decks with endless city views says Josh E. Fidler, Co-Chairman of developer Chesapeake Realty Partners.

The interior will feature a mix of Studio, 1 and 2 bedroom luxury apartments with spacious floor plans and 9 foot ceilings. The finishes will include hardwood floors, granite counters, clean steel appliances, rich wood cabinetry and each apartment home will feature a full-size washer and dryer.

The community will boast a lengthy list of world-class amenities including resident-controlled access, garage parking, two rooftop decks, a state-of-the-art rooftop fitness center, a furnished interior courtyard, and a residents club with coffee bar, fireplace, big screen TVs, free WiFiand much, much more.

Whats even more impressive is that in recognition of todays environmental sensibilities, 2 East Wells Apartments in Federal Hill have been built to LEED Silver standards. LEED stands for Leadership in Energy and Environmental Design and is an internationally recognized green building certification system developed by the U.S. Green Building Council (USGBC). In order to be certified, the community must achieve standards for high efficiency heating and cooling systems, energy efficient appliances, high efficiency hot water heating, energy efficient lighting, and indoor environment quality, just to name a few.

Pre-leasing for 2 East Wells apartments in Federal Hill has already begun and interest in the community has been extremely high. If the pre-leasing activity is any indication of future popularity, 2 East Wells is likely to be Federal Hills hottest new address. For more information about 2 East Wells, visit the communitys website at http://www.2eastwells.com

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2 East Wells Apartments in Federal Hill Bring Industrial-Chic to South Baltimore

Mayor Paul Soglin worries that Madison's main drag, State Street, is becoming overrun with bars and restaurants.

So Soglin is contemplating taking regulatory action to ensure that the mix of retail remains strong on this historic commercial strip.

"What's happening is, we're getting more and more uses that are what I call 'beverage-oriented,' everything from coffee shops to restaurants and bars, as well as bars that pass themselves off as restaurants," Soglin says. "The retailers cannot afford the rents. They cannot compete with the coffee shops and bars."

The mayor says he doesn't have any answers, but would like to start a conversation about the future of the strip, possibly calling for a moratorium on any new bars, restaurants or coffee shops.

"I think the solution is to have a community-wide discussion on the future of State Street," he says. "Do we want a State Street that resembles Sixth Street in Austin or one that resembles the historic State Street, which is more focused on diverse retailers, whether they be paper goods, gifts or novelties."

Austin's Sixth Street is often compared to State Street because it's a thriving college commercial district. But Austin's street is much more of an entertainment district, with large clubs and music venues. "If you go to Sixth in Austin, you can go an entire block and the only retailer you'll see is something that reminds you of Times Square, selling licenses plates or snow globes with the Alamo," says Soglin.

A long-term solution will take a couple of years to develop, Soglin says, but he identifies two possibilities: an "absolute ban on new square footage for liquor licenses" or an overlay zone, which would regulate the mix of businesses.

Soglin says he's resisted banning new liquor licenses, because that inflates the value of existing licenses. But, he adds, it's increasingly tough for retail to survive on State Street. "I'm looking for options that will secure the present uses on the street before we go over a tipping point where we lose most of the retailers."

Sandi Torkildson, owner of A Room of One's Own bookstore on Gorham Street, has long raised concerns about bars and restaurants pushing retail out of the area. She says cities like Boston and San Francisco have laws that require certain types of businesses to get conditional-use permits, to protect retail space.

Mary Carbine, the executive director of the Downtown Business Improvement District, says that retail stores are in a period of transition, not just downtown, but nationally, as "brick and mortar" stores face growing competition from online vendors.

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Is retail getting squeezed out of State Street?

The capital-expenditure plan targets Bt2 billion in rental income from both retail brands by 2019, Napat Charoenkul, managing director of the retail group, told a press conference yesterday.

The retail group, comprising Asiatique, Gateway, Centerpoint, OP and Food Court on Silom, recorded revenue of Bt500 million this year.

Nearly half of the capex plan, or Bt2.5 billion, will be spent on developing a new Gateway shopping centre in Bangkok starting next year, while Bt1 billion will be used to open two Asiatiques in Pattaya and Hua Hin in 2016.

About Bt1.5 billion will be needed to construct the second phase of Asiatique on Charoenkrung Road. Construction of the hotel and retail space will commence next year and be completed in 2016.

The two existing Gateways will be renovated and re-launched in the middle of next year - Gateway Ekamai at a cost of Bt500 million and Digital Gateway Siam Square for Bt150 million. The capex budget will be funded from internal cash flow.

The third and fourth phases of Asiatique Charoenkrung, including four hospitality and retail spaces, are under study. The projects would be developed from 2020-25 with an estimated budget of more than Bt5 billion.

After the renovations of Gateway Ekamai and Digital Gateway Siam Square and the second phase of Asiatique are completed, the company will raise its rental rates for all of them by 10-50 per cent depending on location.

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TCC Land to invest for expansion of shopping complexes

Published on December 03, 2014

The Halifax Shopping Centre is getting a makeover to the tune of $70 million.

Halifax Shopping Centre

On Tuesday, the mall stated it is starting a $70 million development project this month to transform the property with about 75,000 new square feet of retail space, a relocated food court, and design upgrades throughout the mall.

Weve been reviewing options and looking at where wed like to see the direction of the Shopping Centre going, mall spokeswoman Stephanie Schnare said Tuesday.

Schnare said the new 30,000 square-foot food court will be moved to the bottom floor of the west lot where Fairlanes Bowling once was, have a new glass entrance and 1,000 square-foot open-air patio.

A release said the court will have a wider selection of food vendors, natural gas fireplace, and soft seating. Plans include a nursing lounge and new washrooms near the food court.

The redevelopment also converts one of the office towers to over 45,000 square feet of two-level retail space for new brands, Schnare said, and the hallway where Apple and Payless are now will feature a huge skylight reaching up one more floor.

It will almost simulate shopping on a street front, Schnare said.

Schnare said although they want to continue the momentum of bringing in popular stores like Victorias Secret, Apple and Coach, they are focused on getting all types of retail with any price point.

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Halifax Shopping Centre to get $70 million redesign: new food court, stores, patio planned