Crossroads Mall Discussion

Stargazer · Post by **Stargazer** » Tue Mar 02, 2010 4:28 pm

The media continues to talk of the 'recovery'. Am I the only one who is wondering if our economy in fact is right about here...

Post by **Brad** » Tue Mar 02, 2010 4:34 pm

Na, I think were are somewhere in here

Stargazer · Post by **Stargazer** » Tue Mar 02, 2010 5:02 pm

Yeah, I like your analogy better.

S33 · Post by **S33** » Tue Mar 02, 2010 8:06 pm

Stargazer wrote:The media continues to talk of the 'recovery'. Am I the only one who is wondering if our economy in fact is right about here...

You're not alone. Our government may have provided some artificial growth for the last 3 quarters by adding to the nat'l debt, but look at consumer spending for the honest clues. Consumer spending was slightly up, but people are buying much fewer durable goods. That is NOT good.

When Hilary Clinton publicly announces our national debt has now become a national security issue, you know you're in for some problems.

almighty_tuna · Post by **almighty_tuna** » Tue Mar 02, 2010 9:29 pm

back on topic...

...i see there's now a Facebook group for turning Crossroads into a Power & Light type area. Not a fan...especially considering that Zone 5 is being built just down the street and part of the draw of P&L in KC is that it's downtown, not in some abandoned mall in pre-suburbia.

S33 · Post by **S33** » Tue Mar 02, 2010 11:08 pm

almighty_tuna wrote:back on topic...

...i see there's now a Facebook group for turning Crossroads into a Power & Light type area. Not a fan...especially considering that Zone 5 is being built just down the street and part of the draw of P&L in KC is that it's downtown, not in some abandoned mall in pre-suburbia.

I don't here anyone else with a plan... And what's Zone 5? Never heard of it.

almighty_tuna · Post by **almighty_tuna** » Tue Mar 02, 2010 11:21 pm

S33 wrote:I don't here anyone else with a plan

I can come up with any old batsh1t crazy plan if it helps you feel better about the validity of my opinion of this one.

S33 wrote:... And what's Zone 5? Never heard of it.

It's the entertainment section of Aksarben Village.

http://www.aksarbenvillage.com/play/ent ... Section=24

S33 · Post by **S33** » Tue Mar 02, 2010 11:31 pm

almighty_tuna wrote:
I can come up with any old batsh1t crazy plan if it helps you feel better about the validity of my opinion of this one.

Nah, don't waste your time. I, too, agree that it may be too much entertainment at once, but we all know it's a better plan than another shopping mall.

almighty_tuna · Post by **almighty_tuna** » Tue Mar 02, 2010 11:35 pm

S33 wrote:it's a better plan than another shopping mall.

Yes.

I'm also taking bets on whether the new owner plans to create a "lifestyle center" out of it. :roll:

S33 · Post by **S33** » Tue Mar 02, 2010 11:43 pm

almighty_tuna wrote:
S33 wrote:it's a better plan than another shopping mall.
Yes.

I'm also taking bets on whether the new owner plans to create a "lifestyle center" out of it. :roll:

Meaning?

Stargazer · Post by **Stargazer** » Wed Mar 03, 2010 3:46 am

I'm still betting on the Mega Mega Church.

almighty_tuna · Post by **almighty_tuna** » Wed Mar 03, 2010 4:08 am

S33 wrote:
almighty_tuna wrote:
S33 wrote:it's a better plan than another shopping mall.
Yes.

I'm also taking bets on whether the new owner plans to create a "lifestyle center" out of it. :roll:
Meaning?

Meaning that there are always the Minards of the world who think that, while an indoor mall failed miserably, if we open it up and call it a "lifestyle center" like SLTC, things will suddenly turn around as if powered by magic.

Coyote · Post by **Coyote** » Wed Mar 03, 2010 4:09 am

Like credit fairy dust?

Coyote · Post by **Coyote** » Thu Mar 04, 2010 5:11 pm

SOLD - to Crossroads' lender

Ross Boettcher WORLD-HERALD STAFF WRITER wrote:The bidder, CWCapital, purchased the nearly 50-year-old shopping center, which has struggled in recent years, for $40.6 million -- the amount of the loan that Melvin Simon, the mall's owner, defaulted on last fall. Lerner Co., of Omaha is managing the property until a determination can be made on its future.

bbinks · Post by **bbinks** » Thu Mar 04, 2010 5:14 pm

Coyote wrote:SOLD - to Crossroads' lender

Ross Boettcher WORLD-HERALD STAFF WRITER wrote:The bidder, CWCapital, purchased the nearly 50-year-old shopping center, which has struggled in recent years, for $40.6 million -- the amount of the loan that Melvin Simon, the mall's owner, defaulted on last fall. Lerner Co., of Omaha is managing the property until a determination can be made on its future.

As mature as the loan should have been, It's hard for me to understand why they still owed so much.

Bosco55David · Post by **Bosco55David** » Thu Mar 04, 2010 6:03 pm

bbinks wrote:As mature as the loan should have been, It's hard for me to understand why they still owed so much.

Just guessing here, but maybe a good portion of that came from the past renovations?

S33 · Post by **S33** » Thu Mar 04, 2010 6:11 pm

Bosco55David wrote:
bbinks wrote:As mature as the loan should have been, It's hard for me to understand why they still owed so much.
Just guessing here, but maybe a good portion of that came from the past renovations?

heck, they were probably borrowing against it to pay bills knowing they would eventually default. Correct me if I'm wrong, but haven't they been flat broke for better than a decade now? :?

Stargazer · Post by **Stargazer** » Thu Mar 04, 2010 6:49 pm

What eOmaha'ers want to hear...

Lund said he believes the property eventually will become a mixed-use site with residential, office and retail components that brings a more “vertical presence” to the 72nd and Dodge Street intersection rather than the more horizontal mall development.

bbinks · Post by **bbinks** » Thu Mar 04, 2010 7:36 pm

Bosco55David wrote:
bbinks wrote:As mature as the loan should have been, It's hard for me to understand why they still owed so much.
Just guessing here, but maybe a good portion of that came from the past renovations?

Could be.

But the bigger of the last 2 remodels was around 1989 shortly after I moved here, so that would be over 20 years mature, and the second was more cosmetic plus the parking structure at least 10 years ago.

That is still a lot of $$$ to owe.

-edit-

For what it's worth, Wikipedia lists the first remodel at $35 million. So after 20 + years, a good chunk of that should be paid off, assuming the remodel was 100% financed.

Post by **nebugeater** » Mon May 03, 2010 1:21 pm

Other than the people and the open retail stores this could easily be a Crossroads mall improvement project.

Coyote · Post by **Coyote** » Fri Jun 18, 2010 6:38 pm

Local developer buys Crossroads

Jeffrey Robb WORLD-HERALD STAFF WRITER wrote:Friday, longtime Omaha developer Frank Krejci closed a deal to buy the 50-year-old mall at 72nd and Dodge Streets that had become a shell of its bustling past. Krejci, who is president and CEO of Century Development Co., didn't return calls this week about his plans for Crossroads.

StreetsOfOmaha · Post by **StreetsOfOmaha** » Fri Jun 18, 2010 9:03 pm

Stargazer wrote:What eOmaha'ers want to hear...

Lund said he believes the property eventually will become a mixed-use site with residential, office and retail components that brings a more “vertical presence” to the 72nd and Dodge Street intersection rather than the more horizontal mall development.

I just read this. Here's hoping!

My girlfriend and I were in Crossroads earlier this week. What a depressing, empty, ghost town. What's described in the above quote is exactly what's needed. Re-invent Crossroads - mixed use, dense, green, vibrant, pedestrian friendly, etc.

Coyote · Post by **Coyote** » Fri Jun 18, 2010 9:23 pm

Crossroads Mall Sold To Local Developer

KETV wrote:“The city stands ready to assist with redevelopment plans and the revitalization of this prime commercial site in the heart of Omaha,” Festerson said in a written statement.

Coyote · Post by **Coyote** » Mon Dec 27, 2010 8:46 pm

cdub · Post by **cdub** » Mon Dec 27, 2010 9:30 pm

Coyote wrote:

Ambitious anyway. More power too someone who can talk Sears out of the lease they have. I've seen plans that are a little more likely but need work still to be worth it. The fact that there is action at all is heartening though.

Edit - Also, why the heck would you tear down an existing, sound parking structure?

S33 · Post by **S33** » Mon Dec 27, 2010 9:36 pm

I find it interesting that there is no mention of any kind of residential in those plans. (not that there should be, but I thought that was pretty much a collective gimmick in the whole redevelopment campaign)

cdub · Post by **cdub** » Mon Dec 27, 2010 10:00 pm

S33 wrote:I find it interesting that there is no mention of any kind of residential in those plans. (not that there should be, but I thought that was pretty much a collective gimmick in the whole redevelopment campaign)

To really do it right IMO you will have to have residential. Density helps provide customers, aside from broader City wide efficiencies.

Big E · Post by **Big E** » Mon Dec 27, 2010 10:04 pm

Is this an actual thing?

Hope so. Looking forward to going to Hark Rock Cafe to watch sports on one of their big screen Sorny or Magnabox TVs.

S33 · Post by **S33** » Mon Dec 27, 2010 10:08 pm

Angel's Rock Bar will give The Parliament a run for its money with the whole douc*bag scene if this thing goes through, which is good because they will be spread a bit more thin.

iamjacobm · Post by **iamjacobm** » Mon Dec 27, 2010 10:14 pm

Reminds me of the Power and Light district.

nativeomahan · Post by **nativeomahan** » Mon Dec 27, 2010 10:27 pm

It offers a great opportunity for a dynamic redevelopment. The economy will have to dramatically improve for anything like that to happen, however.

Coyote · Post by **Coyote** » Mon Dec 27, 2010 11:45 pm

iamjacobm wrote:Reminds me of the Power and Light district.

This was actually posted on the facebook page of "Turn Crossroads Mall into Omaha's version of KC's Power and Light District!"

iamjacobm · Post by **iamjacobm** » Tue Dec 28, 2010 12:22 am

cdub wrote:
S33 wrote:I find it interesting that there is no mention of any kind of residential in those plans. (not that there should be, but I thought that was pretty much a collective gimmick in the whole redevelopment campaign)
To really do it right IMO you will have to have residential. Density helps provide customers, aside from broader City wide efficiencies.

I agree make those surface lots into garages with 4 floors of living space above and then were talking.

StreetsOfOmaha · Post by **StreetsOfOmaha** » Tue Dec 28, 2010 5:45 pm

Wow - generic chain store cluster |expletive|!

I wouldn't mind some of the additional retailers (H&M, Crate and Barrel, etc.), but as it's been mentioned, this has to be mixed use - think Midtown Crossing and Aksarben Village... things we have right here in the city. Why try to copy KC's P&L development - which virtually any big city has a version of?

Anyway, the illustrations/visions from OmahaByDesign basically show exactly what should happen at that intersection.

I second Big E; Is this real?

ShawJ · Post by **ShawJ** » Tue Dec 28, 2010 7:09 pm

I'm guessing this is just someone's vision that they drew up for fun.

the1wags · Post by **the1wags** » Wed Dec 29, 2010 2:30 am

Considering ESPN has pulled the plug on all the ESPN Zones except for 2 (L.A. and Anaheim), I'd say that one can be crossed off the wish list.

Also if Omaha is to build an entertainment district, the ONLY place for it is in NDT, in my opinion.

iamjacobm · Post by **iamjacobm** » Wed Dec 29, 2010 2:36 am

the1wags wrote:Considering ESPN has pulled the plug on all the ESPN Zones except for 2 (L.A. and Anaheim), I'd say that one can be crossed off the wish list.

Also if Omaha is to build an entertainment district, the ONLY place for it is in NDT, in my opinion.

I would prefer it to be more in the Capitol District than North Downtown, but same general thought here.

Coyote · Post by **Coyote** » Wed Dec 29, 2010 2:56 am

the1wags wrote:Also if Omaha is to build an entertainment district, the ONLY place for it is in NDT, in my opinion.

I agree. With the CWS at TD... Nike also needs a permanent place there also.

Big E · Post by **Big E** » Wed Dec 29, 2010 3:30 am

the1wags wrote:Considering ESPN has pulled the plug on all the ESPN Zones

The original in Baltimore's Inner Harbor is done? That's huge. (Although the food there was borderline inedible.)

the1wags · Post by **the1wags** » Wed Dec 29, 2010 4:26 am

Done.
http://articles.baltimoresun.com/2010-0 ... ore-dining

http://www.espnzone.com/locations.shtml