July 2019 | CAFARO

Cafaro’s acquisition, mall renovation signals Paducah market is worth investment

Posted on July 17, 2019 | by Christopher Anthony

MALL’S MAKEOVER MESSAGE

Cafaro’s acquisition, mall renovation signals Paducah market is worth investment

July 17, 2019

For all the bad raps Kentucky Oaks Mall seemingly takes — it siphons shoppers off downtown, traffic is a hassle, popular stores close abruptly — it nonetheless remains an important, if undervalued, part of Paducah and McCracken County’s economic profile.

The mall is a regional draw, pulling people off the interstate; it provides hundreds of jobs, keeps residents and their dollars home for big box and chain store needs; and has been a catalyst for development on and around Hinkleville Road.

The editorial board believes Paducah and McCracken County would be diminished, perhaps to a large degree, without Kentucky Oaks and its halo effect on businesses and quality of life.

But, as has been well-chronicled here and other places throughout the country, shopping malls aren’t doing as well as they once did. Like most brick and mortars, they’re losing customers in droves to online shopping, specifically retail goliath Amazon.

Look an hour north, to Marion, Illinois, where the city’s mall closed in December 2018. The mall’s owners filed bankruptcy after years of declining foot traffic and store closings, though anchor stores Dillard’s and Target, which are independently owned, remain open.

The trend of mall struggles, combined with store exits at Kentucky Oaks in recent years, raised the logical question for the editorial board, and we’re sure many others: What’s the mall’s future?

Cafaro, Kentucky Oaks’ parent company, answered those questions in a big way last week.

The company announced that it was essentially tripling down on its local investment by acquiring Olivet Church Crossing, home to Kohl’s and Michael’s, and pouring millions more into renovations at Kentucky Oaks.

Let’s keep this news, however positive it may be, in perspective. The acquisition and renovations aren’t going to dramatically improve the community’s economic outlook with an influx of new businesses or industry — let alone much-needed high-paying jobs.

However, there’s something to be said for Cafaro maintaining and expanding its foothold, especially in light of so many industry competitors folding.

The announcements should come as reassurance the company continues to view our community as a worthwhile place to do business, and sees enough potential growth that it’s willing to back its belief with capital.

That’s a valuable message, one we hope is marketed to outside developers and entrepreneurs.

Puyallup to embrace becoming Seattle’s ‘bedroom community’ with new development downtown

Posted on July 15, 2019 | by Christopher Anthony

Puyallup Herald

Puyallup to embrace becoming Seattle’s ‘bedroom community’ with new development downtown

By Josephine Peterson

July 15, 2019 10:35 AM, Updated July 15, 2019 11:41 AM

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New plans for downtown Puyallup prioritize apartments and condominiums near the Sounder Station for a 45-minute commute into Seattle.

The city hopes by focusing on multi-family affordable housing that more retail, coffee shops and businesses will follow. The bulk of planned development is less than a 10-minute walk to the train station.

“Becoming a bedroom community is not something we are shying away from,” acting city manager Steve Kirklie said recently.

A 500-stall parking garage for Sounder commuters is expected to draw more residents, and Puyallup needs housing to support the growth, Kirklie said. Downtown Puyallup’s population is expected to increase by 9,000 in 10 years.

For the past five years, downtown’s annual growth has been slower than the rest of Puyallup.

The Downtown Economic Development Plan targets residences as key to jump start investment. More apartments with shops and restaurants on the first floor would be ideal, said consultant Radhiya Nair.

Retail in South Hill is thriving, and plans call for a trolley to connect South Hill Mall to downtown. Plans also include restoring older buildings as apartments to keep rent prices down.

In the end, all the city can do is attract development and investment to the area, said Tom Utterback, director of development services.

To entice developers, the city is looking to lower permit costs, streamline the permitting process and offer tax exemptions for multi-family housing to spur apartment construction.

Many Pierce County cities are trying to avoid becoming simply a suburb of Seattle, including Tacoma. Ali Modarres, the director of University of Washington Tacoma’s Urban Studies, warned of the dangers of becoming a bedroom community.

“We need something that produces goods or products, generating an economy beyond services,” Modarres told The News Tribune earlier this month. “Real-estate taxes are not enough to keep up with the infrastructure costs over time.”

Asked about the possibility of Puyallup losing its small-town charm in the process of becoming a commuter town for Seattle, Councilwoman Robin Farris said the city’s been growing consistently for 10 years and a vibrant downtown ensures charm.

Councilman Jim Kastama is impressed with the downtown plans but worries there won’t be follow through.

“We’ve had not significant development for 10 years that we need,” he said.

Business owners like John Hopkins are worried the city can’t juggle development and parking.

“If we are not careful, we will ‘Proctorize’ Puyallup,” Hopkins said of the parking.

“I love Proctor, I think it’s a great, but I don’t go there because I can’t park anywhere,” said Hopkins, a former Puyallup mayor.

Keeping the sidewalks clean and graffiti-free were priorities for those visiting a July 8 community forum on downtown plans.

The proposal is expected to be voted on before the end of summer.

July A Big Month for Kentucky Oaks Mall

Posted on July 3, 2019 | by Christopher Anthony

By West Kentucky Star Staff | July 3, 2019

PADUCAH – As July gets started, so do a lot of visible changes and updates in and around the 36-year-old Kentucky Oaks Mall.

Immediately after the Independence Day weekend, renovation work will get underway to upgrade the interior and exterior of the mall, along with other additions.

At the same time, a long-awaited major highway project is unfolding in front of the mall on Hinkleville Road.

The work to “refresh” the property will involve installation of new carpeting, ceramic tile, lighting, furniture, décor, electronic infrastructure and landscaping. Most of the work will take place in the overnight hours after the mall is closed for business. The renovation is expected to be completed in October.

Workers are also creating new spaces for popular new stores.

Ross Dress for Less will open on July 20th, and in what was the Elder-Beerman department store, a 24,000 square foot Homegoods is taking shape, next to a 35,490 square foot Five Below. Both of those stores will be open by November. Negotiations are progressing with other retailers, and announcements of their arrival are pending.

Joe Bell, Director of the Cafaro Company Corporate Communications, told West Kentucky Star that the company has also purchased the Olivet Church Crossing just west of the main mall property.

Olivet Church Crossing includes Kohl’s, Burkes Outlet, Michaels, Kirkland’s, Swirl’s Frozen Yogurt, and Wingstop. He said this will be a complement to what the Kentucky Oaks Mall already offers shoppers