Papillion Promenade update

eomaha · Post by **eomaha** » Wed Apr 07, 2004 10:03 pm

Looks like Papillion Promenade is in good hands with Lerner teaming up with RED Development of Village Pointe/Regency Court renovations.

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World Herald story...

Developer has partner for Papillion Promenade

Omaha real estate developer Jay Lerner has brought on a high-powered partner to help him develop the proposed Papillion Promenade shopping center.

The Lerner Co. said Wednesday that it has teamed with RED Development of Scottsdale, Ariz., and Kansas City, Mo., to develop the center on 135 acres at the southwest corner of 72nd Street and Nebraska Highway 370.

A spokesman for RED Development said grading and utility work is expected to start this summer, but no tenants have been signed. The target opening date is 2006.

"RED's track record in the industry and its Nebraska ties make this a very attractive and effective partnership," said Lerner, president of Lerner Co.

RED Development is a partner in the upscale Village Pointe shopping center at 168th Street and West Dodge Road, which is scheduled to open May 28.

Village Pointe is described as an open-air design that replicates a nostalgic Main Street shopping district.

Village Pointe tenants include Bed Bath & Beyond, Wild Oats, Cost Plus World Market, Scheels All Sports, Coldwater Creek and a 16-screen Douglas Theatre Co. of Omaha movie theater.

The company also developed SouthPointe Pavilions in Lincoln and led the redevelopment of Omaha's Regency Court.

John Bacon, spokesman for RED Development, said the Papillion shopping center would follow a design concept developers call "town center" or "neighborhood center."

It would not be a carbon copy of, nor as upscale as, Village Pointe. But it would resemble the company's other centers such as Summit Woods Crossing in Lee's Summit, Mo., The Shops at North Village in St. Joseph, Mo., and The Shops at Walnut Creek in Westminster, Colo.

The developers estimate the Papillion center would have up to 900,000 square feet of stores.

Anchor stores - Bed, Bath & Beyond, Kohl's and a grocery store were named as possible examples - would be positioned around the outside of the property, Bacon said. In the interior, in the middle of the parking lot, would be a collection of specialty shops, he said.

Next month will mark four years since an Overland Park, Kan., developer announced plans to build an enclosed mall at the site.

When that plan fell through, Lerner bought the site in 2002 and proposed a shopping center instead

Rob · Post by **Rob** » Thu Apr 08, 2004 11:12 am

A much needed addition to this area of town. This will give a boost to retail in Sarpy county which is much needed. And given the fact that the previous development fell thru...Lerner and RED is a nice alternative to nothing.

I'm not sure why they are choosing to make the development "less upscale" vs. Village Pointe. Perhaps demographics drives the process.

sokkerdewd · Post by **sokkerdewd** » Thu Apr 08, 2004 1:57 pm

Maybe a good time to move to Papillion a few years from now, given this development and Wal-Mart will increase their tax base pheominally. I'd think this would lower residential property tax rates substancially...or, they could focus on some very nice public works projects.

nebrwesleyan · Post by **nebrwesleyan** » Tue May 04, 2004 11:30 am

Was just on RED development website. They list the new papillion mall at 800,000 square feet. That beats Village Point by 200,000 square feet. WoW!

scraper · Post by **scraper** » Tue May 04, 2004 12:29 pm

The Papillion mall will have alot more big-box retailers, thus more square footage but much fewer stores.