Shopping Centers Today International

APR 2016

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

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T H E C O M M O N A R E A 16 S C T / A P R I L 2 0 1 6 ICSC members are working to offer as- sistance as the city of Flint, Mich., fights to sustain itself amid problems from a contaminated water supply. Nearly two years ago the city switched its water sup- ply from Lake Huron to the Flint River. During the change, failure to properly treat the pipes for corrosion resulted in levels of lead contamination in the water that continues to affect the area. Genesee Valley Center, in neighbor- ing Flint Township, which is unaffected by the contamination, has stepped up to help. Last October the mall sponsored a water drive for city schools that collected some 210,000 containers of bottled water. The mall also introduced an initia- tive in January to collect cash donations for the Flint Child Health & Develop- ment Fund, which helps those with health issues related to the water crisis. Genesee Valley Center now has a giant- size piggy bank set up for donations. Bloomfield Hills, Mich.–based Lomax Stern Development is another ICSC member that is helping, having teamed up with Flint-based restaurant chain Halo Burger to provide bottled water to residents. The company is also raising money for the Flint Child Health & De- velopment Fund. "ICSC has some dynamic leadership and members in Michigan," said Ste- phen Taylor, manager of ICSC's Central Division State & Local Government Relations. "Their commitment to high- lighting and supporting the relief efforts in Flint has been and continues to be a central focus of leadership in the state." The help is surely needed, but the challenge is to get the resources to the right place, says Daniel Stern, a partner at Lormax Stern. "Once you get into the city, there isn't any rhyme or reason as to who's affected and who's not," said Stern. One house might be fine, while three of the neighboring homes are test- ing positive for lead, he says. Stern has worked through ICSC's Michigan State Government Relations Committee to help funnel even more industry support to the city. "There is a group of us that are working to serve as boots on the ground to make sure that our initiative is not blind," said Stern. "This issue needs a very targeted approach, because it is not affect- ing the entire metro area. So what we are looking to accomplish is to funnel help and money into specific areas." Among the priorities is the provision of water fil- ters and testing kits, Stern says. ICSC members are exploring further ways to help. "As a state committee, we are actively looking for ways to become a vehicle to help raise additional funds for what is a humanitarian crisis," said Edward A. Eickhoff, CRX, CLS, senior vice president of development at Ramco- Gershenson Properties Trust, based near Detroit. Eickhoff is co-chairman of ICSC's Michigan State Government Relations Committee. "We also want to get a vehicle in place that will continue assisting when the media attention dies down, because this is going to be a long- term problem that needs to be solved." ICSC members help Flint, Mich., residents Singapore shophouses command big sums Singapore's historic shophouse properties are skyrocketing in value, especially those in the East Coast Joo Chia neighborhood. In May, five shops in the area sold for S$16.8 million (about $12 million). An ad- ditional three sold for S$23 million in December. Investors are buying the properties in hopes of upgrading them to accommodate new food-and- beverage tenants. --

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