Shopping Centers Today

JAN 2016

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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C E N T E R S T A G E Something new NewCity briNgs mixed-use exCitemeNt to ChiCago By Dees Stribling G i v e t h e p e o p l e w h a t they want, where they want it, says developer John Bucksbaum, paraphrasing Chicago retail great Marshall Field. and what the people want now, Bucksbaum says, is something like NewCity, the mixed-use property that opened last fall near Chicago's lincoln park neighborhood. the development, a joint project of Bucks- baum Retail properties and Structured Development, both of which are Chicago- based, comprises some 600,000 square feet of retail, residential and office space atop eight acres, along with 1,000 parking spaces and 1.5 acres of open space. " op e n i n g N e w C i t y a t t h i s t i m e makes sense for a number of reasons," said Bucksbaum, Ceo of Bucksbaum Re- tail properties. in the main, though, it all comes down to the fact that the Millen- nial and boomer generations both have an appetite for city living, he notes. "people want an urban experience, and they want to live within walking distance of shop- ping. they also want to live near restau- rants and other forms of entertainment." the three-building project, part of a densely populated and affluent neighbor- hood, surrounds an open-air plaza and con- tains several restaurants and entertainment venues that are new to the Chicago area. among these is Nando's peri-peri, a South af- rican chicken restaurant chain that operates some 1,200 restaurants across 23 countries, though only a few dozen in the U.S. so far. the restaurant specializes in afro-portuguese flame-grilled chicken marinated in peri-peri sauce, which is made from an african chili. other new-to-Chicago restaurants at NewCity are adobe Gila's, a Mexican can- tina with live entertainment; Canadian chain earls Kitchen & Bar; and Yard house, a sports-bar chain with units located mostly west of the Mississippi. Mariano's, a wisconsin-based grocery chain acquired by Kroger — which is not new to the area and which to some degree competes with whole Foods — opened one of its larger stores at NewCity, coming in at 80,000 square feet. among the entertainment options is a 14-screen arclight Cinemas movie theater with reservation-only seating and food service. Boston-based Kings Bowl has 16 bowling lanes two bars, a restaurant and a game lounge and serves coal-fired pizza. the NewCity lanes are the chain's second in Greater Chicago. NewCity sits on the grounds of the former New City YMCa, which Structured Develop- ment acquired and demolished in 2007. the recession put the brakes on plans for the site when Structured's equity partner dropped out, but in 2011 Bucksbaum, who was once Ceo of Chicago-based General Growth properties, came in as an investor and part- ner. Construction began in December 2013. the residential component comprises a 19-story, 119-unit apartment tower with residences ranging from 590 square feet to 1,315 square feet. the location is near the Cly- bourne station of the Chicago elevated-train system. "it's the only true mixed-use project of its kind in the city of Chicago," Bucksbaum said. "other projects are either strictly residen- tial or purely retail." SCT +1 646 728 3800 Fax: +1 732 694 1730 www.icsc.org Editor in Chief eDMUND MaNDeR +1 646 728 3487 E D I T O R I A L Managing Editor BRaNNoN BoSwell +1 646 728 3488 Government Relations Editor StephaNie loCKwooD Copy Chief DaviD S. oRtiZ Copy Editor KRiStiNa elDReDGe Art Director JohN D. lewiS Contributing Editors MiChael BaKeR Steve BeRGSMaN Matt hUDGiNS Beth MattSoN-teiG Steve M c liNDeN BRaDY NG aNNa RoBatoN SpeNCeR RUMSeY JeSSe SeRweR DeeS StRiBliNG BeNNett voYleS A D V E R China: UNa Gao + 86 10 5128 0868, ext. 1009 ugao@icsc.org Europe: JUlie FitZSiMMiNS +44 (0)20 3772 8996 julief@lodestaruk.com Asia: Cat ChaN +852 2540 6872 cchan@icsc.org Production Manager DaviD StaCKhoUSe +1 646 728 3482 dstackhouse@icsc.org I C S C O F F I C E R S Chair man StepheN D. leBovitZ President and CEO thoMaS M c Gee Vice Chairman eliZaBeth i. hollaND Past Chairman RoBeRt F. welaNetZ, CRX, CSM Treasurer GleN hale Publisher patRiCia NoRiNS For article reprints, call (866) 879-9144 or contact sales@fostereprints.com S H O P P I N G C E N T E R S T O D A Y SCT (ISSN 0885-9841) is pub lished monthly. VOLUME 37, ISSUE 1 © 2016, International Coun cil of Shop ping Cen ters, 1221 Avenue of the Americas, New York, NY 10020-1099; phone, +1 (646) 728 3800; fax, +1 732 694 1730. All rights reserved. Periodicals postage paid at New York, N.Y., and ad di tion al mailing offces. Sub scrip- tions $70 per year; Canada and other foreign $99. Single- copy price $10 (May issue $20). For subscription informa- tion call +1 727 784 2000. POST MAS TER: Send address changes to Shopping Cen ters Today, Sawida Worley, 1221 Avenue of the Americas, New York, NY 10020-1099. Publications mail agreement No. 41482022, return unde- liverable Canadian addresses to PO Box 503, RPO West Beaver Creek, Richmond Hill ON L4B 4R6. P h o t o : © D a v i D S e i D e : D e f i n e D S P a c e . c o m

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