Coral Ridge Mall
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| Coral Ridge Mall | |
 |
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| Mall facts and statistics | |
|---|---|
| Location | Coralville, Iowa, United States |
| Opening date | July 29, 1998 |
| Developer | General Growth Properties |
| Management | General Growth Properties |
| Owner | General Growth Properties |
| No. of stores and services | 120 (as of August 2006) |
| No. of anchor tenants | 6 |
| Total retail floor area | 1,187,097 ft² (110,285 m²) |
| Parking | 5,133 spaces |
| No. of floors | 1 |
| Website | www.coralridgemall.com |
Coral Ridge Mall is an enclosed super-regional shopping mall located just south of Interstate 80 in Coralville, Iowa. The mall's primary trade area includes Iowa City, Cedar Rapids, and other parts of eastern Iowa.[1] It is managed by General Growth Properties.
The 120-store mall has a total floor area of 1,187,097 square feet (110,285 m²), with a gross leasable area of 979,415 square feet (90,991 m²).[2] It also features a 1,000-seat food court with Wi-Fi internet access, a 10-screen movie theater complex, a large "antique" carousel, a children's play area, the Iowa Children's Museum, and an NHL regulation-sized ice rink. While the ice rink is primarily used for public skating, the University of Iowa's IceHawks hockey team plays most of its home games there.
Coral Ridge Mall's anchor stores are Sears, Dillard's, JCPenney, Younkers, Target, and Best Buy, which is attached to Target but not accessible from the rest of the mall. Other major tenants include Abercrombie & Fitch, Barnes & Noble, Old Navy, and Scheels All Sports. The outlying areas of the mall feature several restaurants, including Red Lobster, Olive Garden, and Chili's. Other outparcels include Pier 1 Imports, a John Deere retailer, a Holiday Inn Express, a Sears Auto Center, and a BP gasoline station and convenience store. A strip center called "Coral Ridge Market" is located across from the mall, and features restaurants such as Outback Steakhouse, N.Y. Deli, Panchero's, and Cold Stone Creamery.
Contents |
[edit] Anchors & Majors
- Barnes & Noble (22,075 sq. ft.)
- Best Buy (38,007 sq. ft.)
- Coral Ridge 10 Screen Theater (26,416 sq. ft.)
- Dillard's (128,700 sq. ft.)
- Ice Arena (29,783 sq. ft.)
- The Iowa Children's Museum (15,453 sq. ft.)
- JCPenney (85,280 sq. ft.)
- Old Navy (16,380 sq. ft.)
- Scheel's Sporting Goods (105,000 sq. ft.)
- Sears (98,600 sq. ft.)
- Target (122,000 sq. ft.)
- Younkers (100,000 sq. ft.)
[edit] History
Coral Ridge Mall opened on July 29, 1998, with 100% of its floor space leased. It attracted one million visitors in its first 30 days and continues to attract roughly 10 million visitors a year. [3] It also spawned additional retail development at the interchange of I-80 and the former Iowa Highway 965, now known as Coral Ridge Avenue. Big-box stores such as Kohl's, Lowe's, Dress Barn, and a Wal-Mart SuperCenter have opened in the years following Coral Ridge's opening.
When Coral Ridge Mall was planned, Iowa City business owners were concerned that the mall would take business away from them. While taxable sales in Coralville increased from $171.2 million in 1998 to $314.6 million in 1999, sales in Iowa City increased from $701.1 million to $733.3 million in that same period.[4] However, a 2000 report by Iowa State University economics professor Kenneth Stone stated that 18 eastern Iowa counties lost over $120 million in retail sales to Johnson County in Coral Ridge's first year. [5][6] Several malls in eastern Iowa, including Old Capitol Mall in downtown Iowa City and Westdale Mall in Cedar Rapids, saw an increased number of store closings after Coral Ridge Mall opened. Most of Coral Ridge Mall's anchors, except for Younkers and Dillard's, relocated from other shopping centers in the Iowa City area; Younkers ran two stores in Johnson County before closing its Old Capitol Mall store in January 2005.
Coral Ridge Mall was built in a tax increment financing district. The Des Moines Register reported on August 13, 2006, that the city of Coralville was using the $7 million in property taxes generated by the mall to pay off long-term debts on a new hotel and convention center instead of using it for local services. [7]
[edit] References
- ^ General Growth Properties. Coral Ridge Mall Average Household Income Map (PDF). Retrieved on 2006-08-12.
- ^ General Growth Properties. Coral Ridge Mall Site Plan (PDF). Retrieved on 2006-08-12.
- ^ Meester, Tamara. "Five Years Later, Coral Ridge Thriving", Iowa City Press-Citizen, 2003-07-06. (Accessed via Newsbank 2006-08-16)
- ^ City of Iowa City, Iowa. City of Iowa City 2005 Community Profile: Retail and Wholesale Trade (PDF). Retrieved on 2006-08-12.
- ^ Stone, Kenneth E., and Artz, Georgeanne M.. Analyzing the Economic Impact of a Super-Regional Shopping Mall in Central United States (PPT). Retrieved on 2006-10-19.
- ^ Woodward, Heather. "Mall drains cash from 18 counties", Iowa City Press-Citizen, 2000-07-16, p. 1A.
- ^ Eller, Donnelle. "Mall revenue lets city go shopping", Des Moines Register, 2006-08-13, p. 6A.
