Thursday, July 3, 2014

Grandview Turns Corner on Future Development



Truman’s Marketplace development moving forward this summer

 RED Legacy, in partnership with the City of Grandview announces plans to move forward with the redevelopment of the Truman Corners Shopping Center in Grandview, Missouri. In addition to the new name, Truman’s Marketplace boasts a complete remodel and the introduction of several new tenants.

 The 72-acre site is located at the intersection of Blue Ridge Boulevard and Highway 71/Interstate 49, on what was once the boyhood farm of the nation’s 33rd President. Once completed in the summer of 2015, Truman’s Marketplace will bring 580,000 square-feet of major brand grocery, specialty stores, apparel shops, pet supplies, arts and crafts, and new restaurants to the area.

 “This will be a wonderful front door for Grandview,” says Grandview Mayor Leonard D. Jones, Jr.  ”This site serves as the gateway not only to Grandview, but also the entire Kansas City Metro area. We could not be more thrilled to have this development underway.”

 The site has been the subject of complex property acquisition issues and negotiations since the redevelopment project was originally announced, however, the shopping center anticipates opening by late spring 2015.  RED Legacy has commitments from retailers for most of the shopping center space, including a new anchor store, and anticipates that the pad sites will be filled once construction on the shopping center begins late this year.

“The City of Grandview and RED Legacy are very excited about how quickly this project has come together in the past few months. Though we have been excited to get started, we are actually seeing some benefit from the timing.  Changes just this year in the financial markets have allowed the City to actually reduce its financial risk,” stated Jones. “This is a great opportunity for Grandview and its residents. I know that the community and those visiting Grandview will be pleased with the variety of new stores and restaurants that will soon be available.”

RED Legacy, as well, is bullish on the success of the new shopping center. “We’ve known for quite sometime what a treasure this location is,” stated Bart Lowen, Managing Partner of RED Legacy.  “It has great access for the entire metro and is under-served for retail and restaurants. The response to lease space has been tremendous.”

 

NEW TENANTS ANNOUNCED

Bolstering that claim, RED Legacy released the names of seven new tenants that would be a part of the renovated Truman’s Marketplace.

New stores and restaurants joining the new center include:

Ross Dress for Less—The largest off-price apparel and home fashion chain in the United States with 1,146 locations in 33 states, Ross offers first-quality, in-season, name brand and designer apparel, accessories, footwear and home fashions for the entire family at everyday savings of 20% to 60% off department and specialty store regular prices.

TJ Maxx—T.J. Maxx  is one of the country’s most prominent off-price retailers of apparel and home fashions, offering  an ever-fresh array of fashionable, brand name family apparel, home fashions and other merchandise, such as beauty products. T.J. Maxx operates 1,079 stores in 49 states.

Burlington—.Burlington stocks a large assortment of current, high-quality, designer and name brand coats, clothing, and shoes for the entire family— at up to 70% off department store prices. With over 470 stores in 44 states, Burlington is among the nation’s most prominent off-price retailers.

LC's BBQ—Amidst the competitive Kansas City BBQ scene, LC’s has quietly earned a reputation for serving the finest burnt ends and ribs in the business, with many barbeque enthusiasts regarding LC’s sauce as one of the area’s best-kept secrets. For authentic Kansas City-style BBQ LC’s is considered one of the greats.

Petco—Petco is a leading specialty retailer of premium pet food, supplies, services and companion animals with more than 1,200 stores in all 50 states. Petco provides more than 10,000 different pet-related products for dogs, cats, fish, reptiles, amphibians, birds and small animals.

Shoe Carnival—Shoe Carnival is a leading retailer of family footwear. Each store offers a wide selection of both name brand and private label merchandise, where contests, games, neon signs, flashing lights and up-tempo music produce an energized shopping atmosphere.

Anna’s Nails – Adding a new specialty shop to the new center.

The new marketplace will consist of mostly new construction, with a high level of architectural finish.  Any remaining structures will be reconstructed with entirely new facades and interiors, presenting an appearance duplicating the new construction.

Existing stores that will continue operation in brand new surroundings include:

Price Chopper

54th Street Grill

International House of Pancakes

GNC

Dollar Tree

Advanced Auto

Payless Shoe Source

Radio Shack

Topsy’s

Truman Corners Barber

Sally Beauty

CitiTrends

Originally opened in 1958, Truman Corners shopping mall has been Grandview’s premier shopping destination for decades.  The reconfigured Truman’s Marketplace is designed to be a walkable shopping center with pedestrian connections to Truman’s farmstead and numerous other pedestrian-friendly amenities. In addition to completely new architecture, the project will feature an entirely remodeled parking area, landscaping and hardscaping throughout the center.

 
ABOUT RED LEGACY

Fired from the same single-minded drive that powered RED Development for more than 16 years, RED Legacy delivers shopping centers focused on rent growth and providing a unique customer experience.  The newly created RED Legacy focuses on suburban and infill redevelopment opportunities.  Under RED co-founder, Dan Lowe, RED Legacy engages in value-add projects with strong returns.  Please visit www.redlegacy.com for more information.

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