Crossroads Mall Discussion

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joeglow
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Crossroads Mall Discussion

Post by joeglow »

I think the ONLY way you can get his mall successful again is if projects like Midtown and Aksarben thrive and others pop up. People like to cite the money near Crossroads as reason enough. The simple fact is that MUCH of that is old money and they are not known for throwing their money away on over-priced items (think Buffett). I would bet the majority of those people would pay $30 for a pair of jeans at Kohls WAAAY before they would ever pay $100 at a mall store.
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TitosBuritoBarn
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Post by TitosBuritoBarn »

Bosco55David wrote: Now that you mention it, I don't think I've ever seen a Best Buy as a mall anchor.
The one in Grand Island is. There might be one in Iowa City that is as well.
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Post by nebport5 »

TitosBuritoBarn wrote:
Bosco55David wrote: Now that you mention it, I don't think I've ever seen a Best Buy as a mall anchor.
The one in Grand Island is. There might be one in Iowa City that is as well.

Are you referring to Coralridge Mall? You might call it a "junior" anchor with Dillard's, Younkers, Sear's, JC Penny's and Scheel's and Target being the main anchors. The Bestbuy there is adjacent to Target but not accessible from the mall.
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Post by Omahain3D »

I honestly think that a Macy's or Nordstrom would do it for Crossroads. That mall would thrive like never before with just a few rennovations. Omahans would come from far and wide for a Macy's. It would kill Von Maur and Westroads. It's something Nebraska has never had before. A rennovation at Crossroads would cost a lot less and be just as profitable compared to doing anything else. It's still progressive yet a modest and humble approach that Nebraska is so well known for.
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TitosBuritoBarn
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Post by TitosBuritoBarn »

Omahain3D wrote:I honestly think that a Macy's or Nordstrom would do it for Crossroads. That mall would thrive like never before with just a few rennovations. Omahans would come from far and wide for a Macy's. It would kill Von Maur and Westroads. It's something Nebraska has never had before. A rennovation at Crossroads would cost a lot less and be just as profitable compared to doing anything else. It's still progressive yet a modest and humble approach that Nebraska is so well known for.
Whoa whoa. I dunno about that one. A Macy's isn't that special anymore. There is one in Sioux Falls... I think Target has proved that one store isn't going to save Crossroads. It's going to need a Regency Court type of remodeling and rebranding to fix it (on a larger, Crossroads sized scale).

Plus there is no way two department stores will effectively kill Westroads, or even Von Maur for that matter; just in the same way Wal-Mart hasn't killed our city's Targets, Gordman's, Kohls, (all of the) K-Marts, JC Penny's, etc.
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2Adam29
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Post by 2Adam29 »

On the plus-side of things, I've been hearing talk of some smaller shops opening up in the mall recently.
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S33
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Post by S33 »

2Adam29 wrote:On the plus-side of things, I've been hearing talk of some smaller shops opening up in the mall recently.
Ah, it's nothing more than a bandaid fix. One thing about malls, when they are failing, it's usually a point of no return.
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Post by jtshaw »

I joined a friend in a trip to Barnes & Noble at Crossroads a couple of weeks ago, and we were startled at just how far down the death spiral the mall has spun in just a few months. The entire second floor was closed. Half or more of the remaining stores are selling merchandise of a sort that makes a Spencer's look classy. I thought the lounge area with comfortable furniture and televisions near the central court looked promising, maybe an invitation to relax and hang out for awhile, but that's perhaps a desperate gambit in an industry where sales per square foot is a major metric of performance. The lounge sits at what should be a high traffic corner, a prime storefront. The parking lots looked well-populated, but those people must have been inside Target and Sears. Only a guess, but at this point Target and Sears are likely the only businesses keeping Crossroads alive. Hard to believe that all the others combined could cover even utilities and maintenance.
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nativeomahan
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Post by nativeomahan »

I paid my first visit to the mall portion of Crossroads in about a year today. Barnes and Noble looked fairly busy, but one step out the door into the mall was like a journey into bizarro world. Part of the mall was literally dark on my mid afternoon trip. Only about 1/3 of the shops are open, and some are of the flea market type of store. So sad. I remember when Crossroads was vibrant, both in the 1960s and 1970s and again after its remodeling in the early 1980s it was every bit as busy as Westroads.

And I was shocked how far down the rung Sears has come. It used to be a large store full of merchandise. There were entire sections with no merchandise out for display, and much of what was looked like it belonged at an off-price store bargain bin. It was very very sad.

It all reminds me of when a new restaurant opens and it is the "in" spot and everyone goes there for a few years, then someplace else opens with a little more flash and everyone deserts the first place for the new kid on the block. Soon the older place shuts down. It wasn't the fault of the first place, its just that people travel in packs, and they like to go where everyone else goes, to see and be seen. You can't do that at Crossroads any more. There is absolutely no fashion to be bought at the mall.

The vultures are gathering.

My suggestion, voiced earlier, is to turn the entire south parking lot into a development of mixed use apartments and condos, with maybe a theatre or entertainment section right at the corner of 72nd and Dodge. The corner could be re-imaged as Omaha's own version of Time's Square or Piccadilly Circus with a little imagination and a lot of private investment. The demographics aren't bad for the area at all. It could be done. Ideally, it should be done. Bring the corner back to the glory days as Omaha's place to gather and celebrate.

I wish the city would send out a RFP for redevelopment of the entire area.
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nebugeater
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Post by nebugeater »

It amazes me with the traffic and success of surrounding businesses that the management of Crossroads cannot find a model that will work for that location. It makes you wounder if they want to, as has been stated before. The streets surrounding the area are always full, and not just at typical busy times of the day.

Look around the area at the successes. Nebr Furniture Mart, Lowe's, Best Buy (even with it's poor look), The strip plaza with Sprint in it (I frequent this Sprint store for supporting our Sprint phones at work, they are currently the 4th largest volume Sprint store in the country. It is always packed in there with a wait and it seems at least 8 - 10 people working with customers.) This is just naming a few but for the most part it seems nearly all the businesses in the area are doing well except for those that fall under the Crossroads umbrella.
For the record  NEBUGEATER does not equal BUGEATER    !!!!!!!
cdub
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Post by cdub »

God damn smilies still erase my whole post sometimes.... f f f f f




Anyway. On the plus side, the obnoxious sign right at 72nd and Dodge was off yesterday. Maybe they can no longer afford to run it and will sell it for scrap!
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Post by Bill O'Rights »

Crossroads Mall may as well be on a deathwatch. I was just there yesterday, and it was so depressing that I could almost have cried. There were maybe 10 other people in the entire mall. I remember when the Crossroads was alive and vibrant. Sadly, I believe those days are gone and are now just a distant memory. I cannot even begin to fathom why Simon would have allowed the mall to have to such a state of disrepair. Shoddy and patchy paint jobs and quick fix repairs with a phillips screw and a fender washer. So many empty store fronts that the place literally echos from your footfalls. The old Dillard's wing now only has Victoria's Secret. Nothing else down there, at all. The second floor is completely vacant. I remember not being able to find a place to sit at the Food Court. Except for a few, even the floor kiosks are now mostly vacant.

A large part of the problem, I feel, is the fact that the Crossroads received an undeserved reputation as being "unsafe". If a group of black people were in the mall, in groups larger than 3, then it must be a gang and violence will most certainly break out. Of course, there were a few instances of gang violence, but these were few and far between and way overblown by the local news media. Crossroads was no more unsafe than any other mall. But, it got that reputation and it stuck. People quit coming and the property fell into a state of disrepair and it is now what it is. A mere shell of its' former glory.

Highway 75 is what put the final nail into the coffin of the Southroads Mall. All the traffic bypassed that area, and the big box stores took off on Cornhusker, and thrived. That is not the case with the Crossroads Mall. 72nd and Dodge is still considered the "heart" of the city, and is arguably still the busiest intersection in Omaha. I see no reason for the Crossroads to have come to fate that it has except for mismanagement. If Simon is unable, or unwilling, to put the money into proper repairs and maintenance, and the necessary public relations shot in the arm, then they need to just pull the plug. As sad as I would be to see the Crossroads go, I would rather see that than have this constant reminder of the opinion that everything along, and east of, north 72nd street should be avoided at all costs.
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Post by jtshaw »

I searched the Omaha World Herald via ProQuest through the Omaha Public Library website (at home you need a library card with a barcode number to authenticate and get access) and found a number of articles from the mid-90's addressing problems at Crossroads Mall. Fifteen years ago! Here's an article from January 18, 1994:
Omaha World Herald via ProQuest through the Omaha Public Library wrote:The Crossroads Mall stays open until 9 on Saturday nights. But Pam James of Bellevue says she's out the door by 4.

"We've shopped here for years," Mrs. James said between store visits at the mall. "But it starts filling here about 4 o'clock on weekends with a lot of unruly types.

"I just don't like it. They're bumping into you, staring at you."

The Crossroads Mall management doesn't like it, either, and is doing something about it. Signs posted at each entryway and on store directories forbid disorderly conduct, loitering and wearing gang clothing. Youths not shopping and not with their parents will be asked to leave, the signs say.

The problems come mostly from teen-agers. They're important customers to most Crossroads stores, especially the ones that sell music, clothing, sporting goods and fast food. But the young people also have turned the mall into a weekend hangout.

Hanging out occasionally has turned into fighting, to the consternation not only of mall officials but also parents.

"My mom doesn't want me coming here anymore," said Ida Harris, a 17-year-old student at Bellevue West High School who was shopping at Crossroads last week.

Most teen-agers interviewed said they would think nothing of going to the mall on weekends. But some said they pick their spots.

"I won't come here on Saturday nights," said Trin Williams, 19, who was shopping with Miss Harris. "It's packed."

Crossroads isn't the city's only mall that draws big crowds of teen-agers on weekends, said Sgt. William Muldoon, spokesman for the Omaha Police Department.

"It occurs at Westroads and at Oak View, too," he said. "I've been at Oak View on a couple of occasions where I've been concerned about the large number of young kids banded together and roaming the mall. I remember feeling these kids were not there for shopping."

Problems at the Westroads culminated in 1989, when one teen-ager was murdered by a self-proclaimed Satan worshiper and two others were shot in a gang dispute. The mall has not had major problems in recent years, said the general manager, Chris Oviatt.

Oak View's general manager, Don La Chere, said his mall has had nothing worse than a few scuffles in the food court.

Crossroads was the site of a tragedy last month, when 18-year-old Michael Campbell was shot to death in the parking lot.

Since then, said Nancy Bartnicki, Crossroads marketing director, security guards have strictly enforced the "courtesy code" that was posted at entryways and on store directories last winter. The mall also employs 12 security officers and off-duty police officers.

One store owner, Tony Avolio of Backstage Limited shoes, estimated that the number of teen-agers milling about on weekends has been cut in half since the shooting. Sales have fallen, too, he said.

"It'll probably pick back up in seven, eight months," he said. "But for now it's just killing business."

Mrs. James, who lives near Fontenelle Hills in Bellevue and has children ages 17, 18 and 20, said she would prefer that they shop only during the day.

When her 20-year-old daughter, Cara, was younger, Mrs. James said, she often would drop her off at a mall for the day.

"I guess we all contributed to the problem," Mrs. James said. "But I would never do that now. I'm just glad my kids aren't 13 anymore."

JoAnne Grove, whose family owns the Stadium Dogs food outlet at Crossroads, said she resents the negative news attention that last month's shooting received.

But she also said she wouldn't let her 13-year-old and 11-year-old go alone to a mall or a movie theater.

"Unfortunately, we live in a society where that cannot be," she said. "There are too many weird people out there. Until society takes over and decides to make changes, I've got to protect my kids. Who else will?"

Cara James said she did not see a single fight at a mall when she was a teen-ager. And they remain rare. But she and others are worried about a different type of violence.

"No one fights anymore," said Ms. Williams, a student at Omaha College of Business. "Now they shoot."

Said Mrs. James: "Kids just think they're infallible. They just don't think about it - until they're involved in something where it might be too late."

Ultimately, Mrs. Grove said, it's not the malls' responsibility to stop the trouble. It's up to parents.

"The fighting and shootings all take place because parents allow it to happen," she said. "Parents allow their children at 11, 12, 13 and 14 to come in here, and they have nothing else to do.

"I'm a teacher. If kids sit in my classroom and have nothing to do, five minutes later they're going to be making noise. They're saying, 'Pay attention to me! I've got to do something!' "
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Greg S
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Post by Greg S »

This, not Simon, is why Crossroads failed. I worked there part time from pre-renovation until the mid 90's and you could see the tide turn.

Crossroads got the rep of having unruly youths, when they tried to address (and they had to do something) some leaders of the community cried racism. The negative portrayal continued and the long downward spiral began.

FYI it looks like Simon will be buying General Growth. I know we've seen others praise General Growth, I'm waiting to watch them work their magic at Mall of the Bluffs...

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Post by MrPoloShirt »

joeglow wrote:I think the ONLY way you can get his mall successful again is if projects like Midtown and Aksarben thrive and others pop up. People like to cite the money near Crossroads as reason enough. The simple fact is that MUCH of that is old money and they are not known for throwing their money away on over-priced items (think Buffett). I would bet the majority of those people would pay $30 for a pair of jeans at Kohls WAAAY before they would ever pay $100 at a mall store.
Most wealthy people in midtown are older and most likely do not often shop at malls in general. Furthermore, what you are referring to, the Happy Hollow and Fairacres neighborhoods, this is a very small group of people and those people alone could not support a mall.

Crossroads needs to cater to the discount crowd. Target did this perfectly. Target has become very popular with the urban demographic because it's fashionable and reasonably priced.

Other neighborhoods like Dundee and Country Club are more upper middle class urban minded and most likely also do not shop at malls. Crossroads demise was the perfect storm. Those who can afford malls in the area don't go to malls, and everyone else cannot afford the Dillards or Macy's.
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Post by RegisResident »

Just a quick note on Crossroads demographics- if you include the area east of 72nd street, you also include downtown which has a pretty good mix of people with money.... right now most of us who live down here and want to shop have to drive way out to west Omaha to find any major store- hopefully this will change with Midtown Crossing and the other development downtown, but if you wanted to look at the people who would shop at a redeveloped crossroads, you need to factor in the downtown demographic (just look at the number of condo dwellers that live down here).
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Post by mrdwhsr »

"Crossroads is doing just fine." - Jim Suttle
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Post by almighty_tuna »

mrdwhsr wrote:"Crossroads is doing just fine." - Jim Suttle
.....circa?
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Post by mrdwhsr »

almighty_tuna wrote:
mrdwhsr wrote:"Crossroads is doing just fine." - Jim Suttle
.....circa?
2006 or 2007? It was at the Omaha Streetcar meeting an UNMC.
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Brad
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Post by Brad »

mrdwhsr wrote:2006 or 2007? It was at the Omaha Streetcar meeting an UNMC.
Tuna, DTO, the1wags, myself, and I believe coyote were all at that meeting.
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Coyote
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Post by Coyote »

Yes - I was there.
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2Adam29
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Post by 2Adam29 »

Simon may have sold the Crossroads mall. I heard from a source today that they will be firing all Mall Security Staff, and hiring a new contracted group for security as the new owners take over the property. However, it's looking like they're keeping the old management in place.
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Bosco55David
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Post by Bosco55David »

2Adam29 wrote:Simon may have sold the Crossroads mall. I heard from a source today that they will be firing all Mall Security Staff, and hiring a new contracted group for security as the new owners take over the property. However, it's looking like they're keeping the old management in place.
Any idea who this owner is and what they plan to do with the property?
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Post by bbinks »

2Adam29 wrote:Simon may have sold the Crossroads mall. I heard from a source today that they will be firing all Mall Security Staff, and hiring a new contracted group for security as the new owners take over the property. However, it's looking like they're keeping the old management in place.
New management is what the mall needs. Some fresh ideas on how to market the place.
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2Adam29
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Post by 2Adam29 »

Bosco55David wrote:
2Adam29 wrote:Simon may have sold the Crossroads mall. I heard from a source today that they will be firing all Mall Security Staff, and hiring a new contracted group for security as the new owners take over the property. However, it's looking like they're keeping the old management in place.
Any idea who this owner is and what they plan to do with the property?
no clue. All I know is that Simon is firing all their Security staff because the people who bought ownership of the mall aren't interested in continuing the current contract with IRC security, and instead will be hiring Signal 88.
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S33
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Post by S33 »

Why don't they just slap down some street car tracks and convert it into a mixed use development? Muahahahah!!

Seriously though, the mall will not survive. Not because a turn around is impossible, but NOBODY is going to invest and time or capital for a retail use. Perhaps they can tear down the sears and other large department stores and convert the rest to offices and a Kansas City Live/P&L District type setup in the food court area and surrounding stores?

I honestly believe an entertainment district setup could work...pending the impact midtown crossing would have on it. heck, maybe even some hotels in place of the large department stores.
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Post by mrdwhsr »

Brad wrote:
mrdwhsr wrote:2006 or 2007? It was at the Omaha Streetcar meeting an UNMC.
Tuna, DTO, the1wags, myself, and I believe coyote were all at that meeting.
I had a short conversation with Suttle in the hallway after the meeting. JS asked me what I thought of the map that Omaha Streetcar brought to the meeting. I told him I didn't think all the lines on the map were feasible, but a line from downtown to UNMC and UNO could work. Extending the line to the Crossroads might even help revitalize Crossroads.

Tuna would recognize me. I've been to a few Omaha Streetcar meetings (probably more than a year ago since the last). We old geezers may be easy to forget. I asked if light-rail vehicles could use the streetcar tracks in Little Rock (and how they might be built in Omaha). The key-chain fell apart a couple years ago.

BTW -- I really do enjoy the railroad pictures that get posted on the forums. Thank You. :)
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Post by almighty_tuna »

mrdwhsr wrote:Tuna would recognize me.
i'm much better at faces than names!
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Post by mrdwhsr »

S33 wrote:Why don't they just slap down some street car tracks and convert it into a mixed use development? Muahahahah!!

Seriously though, the mall will not survive. Not because a turn around is impossible, but NOBODY is going to invest and time or capital for a retail use. Perhaps they can tear down the sears and other large department stores and convert the rest to offices and a Kansas City Live/P&L District type setup in the food court area and surrounding stores?

I honestly believe an entertainment district setup could work...pending the impact midtown crossing would have on it. heck, maybe even some hotels in place of the large department stores.
I could see residents of DT, MTC, and mixed use or residential developments along Farnum, UNMC, UNO hopping on a streetcar to go to a Crossroads Mall with a Macy's, Nordstrom, Younker's for retail therapy. It would certainly be an easier trip than driving to Shadow Ridge, Oak View, or Village Point. There may not be enough 'shoppers' in that area to support Crossroads today, but streetcar with new residential development might provide enough consumers that Crossroads would thrive without the West O and Sarpy county suburbanites.

It would still require an investment of time and capital for retail use, but Crossroads would not have to be mixed use to survive. An entertainment district? How many Old Markets and North Downtown's will Omaha support? (Just a question).
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S33
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Post by S33 »

mrdwhsr wrote:
S33 wrote:Why don't they just slap down some street car tracks and convert it into a mixed use development? Muahahahah!!

Seriously though, the mall will not survive. Not because a turn around is impossible, but NOBODY is going to invest and time or capital for a retail use. Perhaps they can tear down the sears and other large department stores and convert the rest to offices and a Kansas City Live/P&L District type setup in the food court area and surrounding stores?

I honestly believe an entertainment district setup could work...pending the impact midtown crossing would have on it. heck, maybe even some hotels in place of the large department stores.
I could see residents of DT, MTC, and mixed use or residential developments along Farnum, UNMC, UNO hopping on a streetcar to go to a Crossroads Mall with a Macy's, Nordstrom, Younker's for retail therapy. It would certainly be an easier trip than driving to Shadow Ridge, Oak View, or Village Point. There may not be enough 'shoppers' in that area to support Crossroads today, but streetcar with new residential development might provide enough consumers that Crossroads would thrive without the West O and Sarpy county suburbanites.

It would still require an investment of time and capital for retail use, but Crossroads would not have to be mixed use to survive. An entertainment district? How many Old Markets and North Downtown's will Omaha support? (Just a question).
I agree the idea probably isn't feasible because of all the recent developments. However, it does appear more likely than retail, at this point. I really do not see department stores like Macy's and Nordstrom having "failed malls" in their expansion plans - regardless of future transportation or population changes. If they were to, it would be an awfully long time before that happens.
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Post by Omahain3D »

Read these articles. I think they parallel what is happening at Crossroads today (maybe on a less severe level). The mall was dying in 1983. It was outdated. It was "bland". It was under the threat of nearby retail. Simon bought it in 1984 and spent over $35 million in renovations. All the mall needed was a little "love." Simon added the state's first food court and Dillard's.

What I find frustrating today is that Simon has neglected the mall for 15 years. I really do believe that the mall format works for Crossroads. NEW MANAGEMENT & THE CITY OF OMAHA's attention is all the area needs.

http://www.nytimes.com/1988/08/07/busin ... sales.html

http://www.allbusiness.com/sales/107802-1.html

I think the quote from the end of the second article is strikingly applicable today as it was yesterday:

"Today, Crossroads Mall greets old friends and new with an exciting facelift and a cross-section of tenants unlike others in the Omaha area. "We went about as far as you can go without tearing a mall down and starting over," says MSA's Renfro. "In modernizing Crossroads, we created an entirely new package. Although it was a very difficult and costly project, the end result has rejuvenated what was once a dying shopping center."

Adds Cramer, "The success of the renovation -- and it is very successful in the amount of traffic and business tenants are doing -- is to the credit of Melvin Simon & Associates. There are a lot of developers who would probably not have made this project as successful. In terms of where it put its efforts and the amount of things it was willing to do, the Melvin Simon organization has shown us it is one of the big thinkers.""

On another note:
(I hated those white tents until I read where it described them in the articles. It would be cool to see those tents lit up in their nighttime radiance.)
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Post by Seth »

mrdwhsr wrote: I could see residents of DT, MTC, and mixed use or residential developments along Farnum, UNMC, UNO hopping on a streetcar to go to a Crossroads Mall with a Macy's, Nordstrom, Younker's for retail therapy. It would certainly be an easier trip than driving to Shadow Ridge, Oak View, or Village Point. There may not be enough 'shoppers' in that area to support Crossroads today, but streetcar with new residential development might provide enough consumers that Crossroads would thrive without the West O and Sarpy county suburbanites.

It would still require an investment of time and capital for retail use, but Crossroads would not have to be mixed use to survive. An entertainment district? How many Old Markets and North Downtown's will Omaha support? (Just a question).
I'd be glad to hop on a streetcar from Midtown to shop at Crossroads. Honestly, though, I'd probably be happier shopping on a revitalized street-fronted retail corridor along Farnam in the 38th-to-45th area. If that ever comes to fruition, I think the whole lot could be leveled and replaced with an Askarben type development. If only Target would move [back] into Midtown.

I fully agree that we don't need yet another entertainment district, especially one without the ambiance and setting of Old Market, North Downtown or MTC.
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Post by ladyred »

Eyes Focus On Busy Intersection As Mall Goes To Auction

http://www.ketv.com/mostpopular/22707687/detail.html

Crossroads Mall To Be Auctioned Off Thursday

POSTED: 2:54 pm CST March 1, 2010

OMAHA, Neb. --
KETV NewsWatch 7 has learned that Crossroads Mall will be auctioned off on Thursday.

Simon Properties Group has had the mall for sale since last year, but wasn't successful. It defaulted on its two, $44 million mortgages in October 2009, according to the Douglas County Register of Deeds.

The foreclosure sale will take place at 9:30 a.m. Thursday at the Douglas County courthouse.
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the1wags
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Crossroads Mall Discussion

Post by the1wags »

Now for a semi obscure movie quote.

[youtube][/youtube]

Seriously, Crossroads is totally hosed.
ThatGuy
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Crossroads Mall Discussion

Post by ThatGuy »

So, they defaulted on Crossroads, but are still trying to buy Oakview and Westroads?
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Stargazer
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Crossroads Mall Discussion

Post by Stargazer »

I'd say the mall/retail situation in the US is entering a very serious state.
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S33
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Crossroads Mall Discussion

Post by S33 »

Stargazer wrote:I'd say the mall/retail situation in the US is entering a very serious state.
Commercial real estate in general has the potential to be the next big bust. It doesn't help that everyone feels the need to do all their shopping at Wal-Mart, either.
nebport5
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Crossroads Mall Discussion

Post by nebport5 »

Crossroads on auction block


Omaha World Herald wrote:Jay R. Lerner, president of Omaha-based the Lerner Co., said his real estate firm was hired by CWCapital, the Washington, D.C., firm representing the lender, to manage the property if the lender ends up owning it.
Omaha World Herald wrote:Omaha City Councilman Pete Festersen said he was aware of interest among some potential local bidders, but he declined to be more specific...“I'm hopeful that coming to this juncture, we'll have some local investors interested,” he said.

Festersen repeated an earlier statement that the property would be a good location for an upscale shopping center similar to the outdoor “lifestyle centers” Village Pointe and Shadow Lake Towne Center.

He also said he hopes the site becomes a mixed-use development of offices, residences and stores.
mrdwhsr
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Crossroads Mall Discussion

Post by mrdwhsr »

S33 wrote:
Stargazer wrote:I'd say the mall/retail situation in the US is entering a very serious state.
Commercial real estate in general has the potential to be the next big bust. It doesn't help that everyone feels the need to do all their shopping at Wal-Mart, either.
Wal-Mart heck. Groceries either at Bakers, Bag & Save, or HyVee; Lowe's for power tools and two-by-fours; all within a couple miles of home (and walking or biking distance). I shop on the Internet for just about everything else...easier to find parking, less time on the road...and clothing that fits. Why hassle with a mall when they don't carry clothes that fit the non-average?

There does appear to be a commercial real-estate problem on the horizon. With the drop in new housing starts and creation of new SIDs the parking lots in retail along West Maple are anything but crowded.
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Brad
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Crossroads Mall Discussion

Post by Brad »

nebport5 wrote:Crossroads on auction block
Omaha World Herald wrote:Jay R. Lerner, president of Omaha-based the Lerner Co., said his real estate firm was hired by CWCapital, the Washington, D.C., firm representing the lender, to manage the property if the lender ends up owning it.
Omaha World Herald wrote:Omaha City Councilman Pete Festersen said he was aware of interest among some potential local bidders, but he declined to be more specific...“I'm hopeful that coming to this juncture, we'll have some local investors interested,” he said.

Festersen repeated an earlier statement that the property would be a good location for an upscale shopping center similar to the outdoor “lifestyle centers” Village Pointe and Shadow Lake Towne Center.

He also said he hopes the site becomes a mixed-use development of offices, residences and stores.
I fell asleep with the TV on and woke up to that store... I thought I was dreaming!