At least one local broker thinks Simon’s plans to expand the Fashion Mall are a competitive jab at Premier Properties, which is planning a mixed-use development called Venu southwest of the intersection of 86th Street and Keystone Avenue. Sam Smith, CEO of Resource Commercial, said he isn’t sure Simon’s expansion is a “brilliant” move since second-floor retail doesn’t do as well as first-floor shops. Simon plans to begin construction next year on a 150,000-square-foot addition to the Fashion Mall. The long-rumored addition of a second level on the west side of the property will add about 20 new shops.
PLUS: Simon announces new Greenwood tenants
Greenwood Park Mall is slated to get Ann Taylor Loft, Chico’s, Coldwater Creek, Jos. A. Bank, White House Black Market, Dr. Tavel, Portrait Innovations and Whitehall Jewelers in addition to Barnes & Noble. Simon also officially announced new restaurants earlier reported in Property Lines: The Cheesecake Factory, Stir Crazy, BJ’s Restaurant & Brewhouse, Paradise Bakery and Johnny Rockets.