Cambridge Properties is primarily a retail developer. But its proposed University City entertainment district in Charlotte, N.C., is unlikely to include soft-goods retailers as tenants.
“We’re looking to ‘Amazon proof’ the district,” explains Jay Priester, Jr., Cambridge’s Vice President of Leasing and Development. In other words, Cambridge is looking for tenants that don’t compete with the online monolith.
Good luck with that. Online shopping captured nearly 12% of total U.S. retail sales last year, according to Commerce Department estimates. It is expected to grow at an 8–12% clip annually through 2020, according to National Retail Federation projections.
Consequently, some entertainment districts are going light on retail, partly because “the bulk of the leasing demand is for dining and entertainment,” say Barry Hand, a Principal with design mega-firm Gensler in Dallas.
But not every developer or AEC firm believes that retailing is anathema to an entertainment district. The Gila River Indian Community in Arizona intends to develop a 68,000-sf entertainment district in Phoenix that would bridge its Wild Horse Pass Hotel & Casino and Phoenix Premium Outlets.
Quite a bit of the new development around the L.A. Live entertainment district in downtown Los Angeles is mixed-use with a strong retail component. “When you’re adding residential to an entertainment district, retail becomes an ‘I need’ space,” says Daun St. Amand, a Senior Vice President for CallisonRTKL.
Callison designed Oceanwide Plaza, a three-tower, 1.5-million-sf residential and hotel building that is scheduled to open across the street from L.A. Live in early 2019. Oceanwide will include roughly 153,000 sf of specialty retail shops. St. Amand says that AEG, L.A. Live’s developer, has been keen on new construction around the district that offers retail options, which downtown Los Angeles lacks.
Five hundred thousand people work in downtown L.A.; 50,000-60,000 live there. Another 10,000 housing units in downtown’s South Park neighborhood will be delivered within the next two years. “Entertainment districts are becoming more like community centers, where people can come and hang out,” says Ed Sachse, Executive Managing Director–Investments and Leasing Brokerage for Kennedy Wilson Properties, Oceanwide's leasing broker. “People are looking for experiential environments, and retail is becoming more like that.”
He points to sports apparel and high-end boutiques as examples of retailers that continue to lure shoppers. Oceanwide, he says, will have around 25 shops ranging from 1,500 to 10,000 sf, all selling “affordable luxury” products.
Related Stories
Cultural Facilities | Sep 24, 2015
Bakpak Architects' 'pottery courtyard' concept in Poland incorporates local heritage
The multifunctional building proposed for Rzeszow, Poland, looks like it was handcrafted on a potter’s wheel.
Mixed-Use | Aug 26, 2015
Innovation districts + tech clusters: How the ‘open innovation’ era is revitalizing urban cores
In the race for highly coveted tech companies and startups, cities, institutions, and developers are teaming to form innovation hot pockets.
High-rise Construction | Aug 7, 2015
Tribute tower to cricket world champs will be Sri Lanka’s tallest
The 1996 Iconic Tower will be a tribute to the country’s cricket team, which won the World Cup in 1996.
High-rise Construction | Aug 4, 2015
Construction of Vietnam’s tallest building commences in Ho Chi Minh City
A 1,509-foot skyscraper broke ground on the banks of the Saigon River in Ho Chi Minh City, Vietnam.
High-rise Construction | Jul 29, 2015
Jerusalem to get a high-rise pyramid by Daniel Libeskind
Are pyramids making a comeback? The city of Paris recently approved a triangle-shaped building that stirred controversy from residents. Now, the city of Jerusalem gave Libeskind's pyramid tower the go-ahead.
Mixed-Use | Jul 22, 2015
Despite China's 'ghost cities,' the country continues construction boom
Cities continue to spring up in the heart of China. Designed to accommodate millions, many are still nearly empty.
High-rise Construction | Jul 13, 2015
Herzog & de Meuron’s triangle tower stirs controversy in Paris
The 590-foot glass pyramid building will include a 120-room hotel, 754,000 sf of office space, and cultural facilities.
High-rise Construction | Jul 7, 2015
Bjarke Ingels designs Frankfurt skyscraper with a surprise in the middle
Several levels in the center of the 185-meter tower are shifted outward to allow for terraces with city views.
Cultural Facilities | Jun 10, 2015
Artists turn oil tankers into architecture
Four Dutch artists propose transforming tankers into monuments with mixed-use space.
Wood | Jun 2, 2015
Michael Green Architecture designs world's tallest wood building for Paris competition
“Just as Gustave Eiffel shattered our conception of what was possible a century and a half ago, this project can push the envelope of wood innovation with France in the forefront," said architect Michael Green of the project.
