Twelve Mile Crossing at Fountain Walk
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| Twelve Mile Crossing at Fountain Walk | |
| Facts and statistics | |
|---|---|
| Location | Novi, Michigan, United States |
| Opening date | 2002 |
| Developer | PLC Novi West, Schostak Corporation |
| Management | Transwestern |
| Owner | Transwestern |
| No. of stores and services | 20 |
| No. of anchor tenants | 3 |
| Total retail floor area | 737,000 square feet (68,469.5 m²) |
| No. of floors | 1 |
| Website | http://fountainwalkofnovi.com |
Twelve Mile Crossing at Fountain Walk, formerly known as Fountain Walk, is a lifestyle center retail complex located across from the super-regional Twelve Oaks Mall in the city of Novi, a suburb of Detroit, Michigan, United States. Having struggled since its opening in 2002, the largely vacant center is currently undergoing renovation. The center features Dick's Sporting Goods and The Great Indoors as its anchor stores; in addition, the center features a movie theater, game room, and a skate park.
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[edit] History
After initial delays that cancelled two of its anchor stores,[1] construction began on Fountain Walk in late 2001. The mall's owner, PLC Novi West, worked initially with Taubman Centers and Ramco-Gershenson, two Detroit-area based developers; Schostak Corporation was later hired as a leasing agent.[2]
The first stores to open were Galyan's Trading Company and The Great Indoors.[3] A year later, the rest of the mall opened to the public.[3]
Additional renovations brought a movie theater and a game room called Lucky's.[2] The entire Galyan's chain was acquired and re-branded by Dick's Sporting Goods in 2004. Also in 2004, the mall's developers filed Chapter 11 bankruptcy.[2]
Difficulty of access to the mall has been cited as a factor limiting the center's growth,[4] as the mall lacks visibility from 12 Mile Road, Novi Road, and Interstate 96, the three major roads that surround it.
The center has been no more than seventy percent leased since its opening, and several major tenants have closed.[5] Modern Skate & Surf announced on its website that it was moving because "the landlord is remodeling the mall and our building will be torn down."[6]
[edit] Redevelopment
Approximately 60,000 square feet (5,574.2 m²) of the mall was demolished in 2006 and re-developed;[5] similarly, most of the remaining portions are slated for redevelopment in 2008.[7] Additional big box stores will be added in the renovation, including a Gold's Gym franchise.[8] The center was also renamed Twelve Mile Crossing at Fountain Walk.[9] Cost Plus Worled Market announced the closure of all its Detroit locations in April 2008.[10]
[edit] References
- ^ Rocky road to Novi; Fountain Walk ready to go after overcoming early pitfalls.(Cover Story)(Brief Article) (html). Crain's Detroit Business. Retrieved on 2007-08-22.
- ^ a b c Mall owner's bankruptcy filing doesn't faze tenants (html). Oakland Press.com. Retrieved on 2007-08-22.
- ^ a b Retailers debut at Detroit’s Fountain Walk retail project (html). Detroit Building Trades.com. Retrieved on 2007-08-22.
- ^ Novi takes tough stand on growth (html). Detroit News. Retrieved on 2007-08-22.
- ^ a b Fountain Walk to be remodeled (html). Oakland Press.com. Retrieved on 2007-08-22.
- ^ Modern Skate & Surf website (html). Retrieved on 2007-09-15.
- ^ Fountain Walk to be remodeled (html). Oakland Press.com. Retrieved on 2007-08-07.
- ^ Library building authority approved (html). HometownLife.com. Retrieved on 2007-08-22.
- ^ Marshall, Carroll (2007-10-18). Fountain Walk redevelopment steps forward with $50M loan. Mlive.com. Retrieved on 2007-11-13.
- ^ Jackett, Chris. Fountain Walk developments moving smoothly. HometownLife.com. Retrieved on 2008-06-01.
[edit] External links
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