Popular chains show southside love

April 4, 2008
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The Broadbent Co. plans to begin construction soon on a new restaurant strip in front of its Greenwood Place shopping center at U.S. 31 South and Shelby Street. The 7,100-square-foot center will include a Dunkin Donuts with a drive thru, a Moe's Southwest Grill and Noodles & Co., said Broadbent's Jeff Roberts. The center is scheduled to open in the Fall. Greenwood Place is anchored by Flower Factory, Lifestyle Family Fitness and United Art & Education. Broadbent launched a redevelopment of the center about two years ago after a tornado damaged it.
Greenwood Place
  • I heard they were going to build a Dunkin at South Madison and County Line Rd. Did this change or will there be two down south?
  • Way off topic, but was curious if anyone had any news on the auction of the former Payton Wells lots from yesterday?
  • Chris: The auction of the Payton Wells properties has been delayed. Stay tuned for more.

    Kathy: I'm not familiar with the other Dunkin Donuts plans.
  • Chris....My husband and I bought carpet for our grand daughter at Floors To Go just before they tore down the old store. The salesmen told us that Walgreens had been asking to buy that corner from them for sometime so the carpet store finally sold to them . He also informed us that Dunkin was possibly building in that area too and that also Starbucks was looking at the location. But he said Starbucks would probably not build there if Dunkin did. I think it would be great to now have Starbucks in that area and Dunkin at Greenwood Place. I just can't imagine that they would be Dunkin in both places so close together.
  • Dunkin Donuts... Is this the next Starbucks? Have one on every corner and sometimes right across from eachother...
  • Kathy -

    Did you tell the salesman at Floors To Go that they constructed the ugliest building on the south side?

    I will never figure out how that pastel orange and yellow montrosity got approved.
  • Say Anything....I really don't have a problem with the new building. I love bright and bold. You have to admit it's an improvement over the old building.
  • Kathy,

    I try to be open minded about a lot of design, but I have several problems with the new Floors To Go. The color scheme is minor compared to how bad the overall building looks.

    With the way the site is graded, the building looks even taller than it really is, therefore drawing attention to an already bad design. It's obvious they are trying to have a taller building that the new Walgreens, which is the only explanation for making it 30+ feet tall.

    Scott Cox (Peacock Development) will pretty much allow anything just to get Walgreens onto a site.

    I will admit the development as a whole is an improvement, but I still won't like the Floors To Go.

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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

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