The Pyramid Companies

From Wikipedia, the free encyclopedia

The Pyramid Company
Type of Company Private
Founded 1970
Headquarters Syracuse, New York
Key people Robert W. Congel, founder and managing partner
Industry Real estate
Products Shopping malls, mixed-use
Revenue > $US 5 billion annually (fiscal 2005)
Website http://www.pyramidmg.com

The Pyramid Companies were formed in 1970 in Syracuse, New York by Robert J. Congel. Its first three malls, or the company's "pioneer malls", were Pyramid Mall at Saratoga, Pyramid Mall at Ithaca, and Pyramid Mall at Plattsburgh. All three malls opened in 1975 and marked the beginning of a 30 plus year advance in shopping center construction and ownership. Currently, it is the largest privately owned developer of shopping malls in the country. The company has since grown to own 20 properties throughout New York and Massachusetts.

Contents

[edit] List of properties

[edit] Current malls

[edit] Past malls

The following is a list of malls that were either closed by Pyramid, or sold to another company.

[edit] Power Centers

The Pyramid Company owns the following shopping plazas:

[edit] ThEATery

The "ThEATery" concept was developed by the Pyramid Companies in conjunction with the opening of Palisades Center in 1998. It mixes movie theaters and upscale restaurants together for a combination of a movie/dinner experience. Currently, Palisades holds the only ThEATery concept, but a major renovation and expansion at the Walden Galleria on the side that faces I-90 will bring many new upscale restaurants and retailers never before seen at Pyramid Malls to the Buffalo area.

A predecessor to this can be seen in the expanded portion of Crossgates Mall as that mall's Johnny Rockets and Houlihans are located across from that mall's theaters.

The Pyramid Mall at Ithaca is currently building a 14 screen theater in the former Hills Department Stores/Ames site that will be the first component in that mall's embrace of the ThEATery concept.

[edit] Controversies

[edit] Expansion projects

The Pyramid Companies hold reputation for not following through on expansion projects to its properties. In 1998 alone, there were projects planned, but cancelled for 10 of the company's malls. Another controversy is the planned DestiNY USA project that will turn Pyramid's hometown mall Carousel Center into a nationwide tourist attraction. The project has been in the planning stages since the summer of 2000. As of April 2006, nothing has been done yet. Even with all of these blunders, the company has come to expand or rejuvenate some of its properties.

[edit] MB-18

In 2005, Pyramid began the implementation of a Parental Escort policy (branded MB-18) at the group's largest malls. The policy states that between 4:00 p.m. and closing on Friday and Saturday evenings, all children younger than 18 must be accompanied by an adult 21 years or older (exceptions are made for mall workers and, depending on cases, those with valid college identification). The policy is currently in effect at Carousel Center (Syracuse), Crossgates Mall (Albany), Galleria at Crystal Run (Middletown, NY), Walden Galleria (Cheektowaga-Buffalo, NY), Holyoke Mall at Ingleside, and the Poughkeepsie Galleria. It is unknown if the policy will be effective at the company's other malls at this time.

[edit] Trivia

At Hampshire Mall, Sangertown Square, Pyramid Mall at Ithaca, and former company owned Fingerlakes Mall, the food court was designed the exact same way in each property, with a fountain in the middle, and mezzanine level for extra seating(Sangertown Square had the fountain removed in a recent remodel). With the exception of Pyramid Mall at Ithaca, that was built in 1975, the others mentioned here were built in 1976, so it is obvious to assume that this was a successful, but ultimately dropped design in the company's properties. Other malls that have similar food courts in the company (1987-1992 properties) are: Berkshire Mall, Champlain Centre North, Carousel Center, Galleria at Crystal Run, Poughkeepsie Galleria, Salmon Run Mall,Walden Galleria and Hudson Valley Mall. In the case of the Pyramid Mall at Ithaca, the mezzanine level was originally home to two full service restaurants. These restaurants were closed as part of the 1986 remodel of the mall, which also removed the fountain and gazebo in the center of the Cafe Square area.

Several Pyramid malls have been dogged by persistent rumors that they are "sinking". This claim comes from the fact that the malls were built on swamps. One of the rumors surrounds the Palisades Center in West Nyack, New York and were even discussed on The Rosie O'Donnell Show. The other, the Walden Galleria was built on one of the few remaining parcels of land that laid undeveloped in the town of Cheektowaga, a Buffalo suburb. This, of course, added with the removal of the mall's fountains in the late 1990's, sparked Buffalo's version of the "sinking" mall. Despite the persistent rumors there has never been a structural failure at any Pyramid mall due to inadequate foundations. The company's position is that these rumors are an urban legend started by opponents of the mall.

Interesting fact to note, is that some of the malls were built on what we now know as sacred Native American Lands, which the Onondaga Nation is currently fighting for in the case of the Carousel Center expansion.

Walden Galleria was built in close proximity to the Buffalo Niagara International Airport, and you can periodically hear the roar of airplanes' engines as they pass over the mall.

Several Pyramid malls have served as prototypes of later malls; for example the architecture of the Walden Galleria is based on a combination of the expanded portion of Crossgates Mall and Poughkeepsie Galleria.

[edit] External links

Retrieved from "http://en.wikipedia.org../../../t/h/e/The_Pyramid_Companies_3f21.html"