Stony Point Fashion Park, envisioned as a affluence capital aback it opened in 2003, is ability a above advance in an attack to allurement a broader ambit of shoppers and diners.
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The 675,000-square-foot amphitheater capital in southwest Richmond is in the added appearance of a two-phase, $50 actor renovation.
The capital is reinventing itself as it adapts to a retail mural awfully afflicted from 14 years ago this ages aback the capital opened two weeks afterwards cross-town battling Short Pump Town Centermost opened.
Consumers accept accepted online arcade to the damage of abounding brick-and-mortar retailers that acclimated to advance at malls but are closing food at a appearing almanac pace.
The antagonism is not aloof online, though. Off-price retailers such as Marshalls and T.J. Maxx accept carved out a alcove with bargain-hunting shoppers and are additionally siphoning abroad capital shoppers.
Stony Point Fashion Esplanade is not giving up on the bodies who appetite $300 angular jeans and $1,000 dresses at capital ballast Saks Fifth Avenue, but it is additionally activity afterwards the accustomed shoppers who appetite $19 leggings and $30 sweaters at such places as “cheap chic” banker H&M, which is aperture a new 20,000-square-foot abundance in the capital this fall.
It is a big abstraction about-face for the mall.
Stony Point Fashion Esplanade had about 90 retailers aback it opened. Today, it has about 58. It does accept some food alone — Saks Fifth Avenue, Tiffany & Co. and Vineyard Vines — so to boutique those places locally, consumers accept to go to Stony Point Fashion Park.
“They accept to booty some activity for the capital to abide viable,” said Brian Glass, a chief carnality admiral for the Richmond and Norfolk offices of bartering absolute acreage allowance Colliers International.
“Their competition, Short Pump Town Center, the cardinal one capital in the market, is killing it,” Glass said.
Short Pump Town Center, which has added than 120 food including anchors Nordstrom, Macy’s and Dillard’s, is 1.3 actor aboveboard anxiety in size.
The alien changes beneath way at Stony Point additionally reflect the capital aggravating to become added than aloof a abode to shop, but a abode for bodies to accomplish memories and accept adventures — the new trend in animating malls.
Phase one renovations completed aftermost abatement added new basement areas, a new children’s comedy area, a dog esplanade and a blooming accessible amplitude currently dotted with copse lounging chairs but that in the winter is adapted into an ice skating rink.
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Changes on the way accommodate creating a new banal aisle abutting the arctic and south parking lots on the west ancillary of the capital abreast cine theater-dining breadth CinéBistro. A added new cut-through would extend the capital access amid Brio Tuscan Grille and P.F. Chang’s through to the south parking lot.
Plus, there will be added basement areas, bigger lighting and added places to relax and play.
Some added changes: the glass-enclosed chump account kiosk is gone, and those babysitter and chump account operations accept confused to amplitude abutting to Saks. Some of the copse — mainly crape myrtles — accept or will be removed to accommodate bigger afterimage curve to the stores.
The new dog esplanade added aftermost year abaft the Panera Bread restaurant on the mall’s south ancillary is addition draw.
Both bodies and their leashed basset accompany are acceptable at the mall. Abounding of the businesses accept dog watering bowls alfresco their doors, and the capital has hosted “yappy hours” for dogs and their owners.
Mike Warfield, who lives abreast Stony Point, said he walks Emily, his English setter, at the capital alert a day. He additionally shops at the center, usually the Brooks Brothers store, he said.
“I am not a big shopper, usually already a month. I usually appear to CinéBistro alert a month,” said Warfield, apropos to the cine theater-restaurant that offers dining service.
Taking agenda of the changes underway at the mall, he said it has been absorbing to watch the transformation.
“At the aboriginal of the year, it acquainted adverse because a lot of places had bankrupt ... but it’s been fun to see apparently addition half-dozen appear aback in and, with H&M, it’s affectionate of exciting. Retail is a challenged ambiance appropriate now. It’s nice to see that we are able to allure some acceptable food here,” Warfield said.
Mall newcomers accommodate Biggs Ltd., an flush allowance and home décor abundance that confused to the arcade centermost in August afterwards abrogation a breadth abreast Short Pump Town Center.
“The move has been astounding for us,” said Donna Biggs, who is client for the business founded 34 years ago by her father, Don Biggs, admiral of the company.
“We all accede that this is our admired breadth in our 34-year history. The audience at Stony Point is absolutely the blazon of client that we were attractive for. Stony Point is a absolute fit for Biggs Ltd.”
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HPDS Sports, which sells accountant able-bodied aggregation accoutrement and accessories, opened abreast Dick’s Sporting Appurtenances in August.
Also on the way: Griffin Cigar, a cigar lounge, and hairstyling salon Hacked in a atom abreast Dillard’s.
“For myself and my team, it’s actual agitative to be a allotment of this project,” said Vincent Mistretta, accepted administrator of Stony Point Fashion Park.
“The added appearance has started. We are attractive at ambrosial abundant the aforementioned timeline, ancient about this time abutting year,” to accept the assignment completed, said Mistretta, speaking during a contempo airing through the mall.
Evidence of the advancing changes is arresting in the blue-wrapped angry blocking off a row of abandoned storefronts abreast Dillard’s administration store.
The storefronts will be burst to accomplish way for the new banal cut-throughs. The above tenants in those spaces accept been relocated to added locations in the mall.
“Ultimately, the redevelopment of this admeasurement shows a company’s commitment, and it allowances the end user — which is the customer and the community,”’ Mistretta said.
Stony Point is endemic by clandestine disinterestedness close Starwood Capital Group, which bought the capital and six added arcade centers, including MacArthur Centermost in Norfolk, from Michigan-based Taubman Centers Inc. in 2014 for $1.405 billion. Starwood Retail Partners owns about 30 malls and “lifestyle centers.”
Mistretta has been accepted administrator at the capital for about a year. He confused from New York, breadth he formed for addition capital company.
“I admired the befalling that this acreage and this breadth would allow me. This is a abundant property,” Mistretta said.
“They assassin me because of my ability and my ability in redevelopment projects. I had aloof gone through a redevelopment at my antecedent company,” he said.
His assignment includes boot up bounded absorption in the capital with shoppers and accessible tenants, appropriately a walk-and-talk and accession the capital hosted aftermost anniversary for bartering absolute acreage brokers.
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James Ashby IV, a chief carnality admiral at bartering absolute acreage allowance Cushman & Wakefield | Thalhimer, said the mall’s action to alter types of tenants and focus on added than arcade is sound.
“They are aggravating to ability a advanced arrangement of consumers in our market,” said Ashby, who has talked to the mall’s leasing aggregation about some accessible restaurant additions.
“I represent absolutely a few restaurants that accept been attractive for opportunities in the Richmond market,” he said. “Two of the concepts that I accept been alive with are northeast and southeast bounded restaurant concepts that are attractive at advancing to Richmond as a aftereffect of all the restaurant amplification we accept apparent in the market. We accept been because opportunities that Starwood Retail, the owner, has presented to us.”
Stony Point Fashion Esplanade is never activity to be addition Short Pump Town Center, said Glass of Colliers International. But that’s not necessarily bad.
“You’ve got to pay absorption to retailers. My wife would adopt to boutique (at Stony Point). She brand the scale. It’s intimate,” Glass said.
It is a boxy retail mural in accepted for malls, said Frank Badillo, administrator of analysis for MacroSavvy, a Henrico County-based business and analysis firm. Stony Point’s key advantage is that it is on the flush end of the spectrum, which has captivated up best amid malls, he said.
“So befitting up a best and ambrosial ambience will be allotment of what can advice Stony Point thrive, but as continued as it additionally adds added important pieces to the mix,” Badillo said.
“Experiences and casework are more important, but retail appurtenances abide a key dimension. Adding distinctive, absolute articles that can’t calmly be begin abroad additionally will accord shoppers a acceptable acumen to accumulate authoritative the capital a destination,” Badillo said.
One adjacent business, Medarva Stony Point Surgery Center, predates the capital by a year or two, but CEO Bruce Kupper said the capital has helped bodies get over their brainy averseness to “cross the river.”
“From that standpoint, the capital has array of burst bottomward one of the barriers of the south ancillary against the west end approach,” Kupper said.
“I am aflame about the changes the capital is making. That is alone breadth I adopt to shop. I acquisition it easier to navigate, and it has all the food I like,” Kupper said.
Planning for the analytical make-it-or-break-it anniversary division for retailers at the capital is underway.
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The mall’s tree-lighting commemoration and ice amphitheatre aperture are appointed for Nov. 11, Mistretta said.
“Lifestyle centers are the way to go, and we charge to accord the customer what they are allurement for,” he said. “You accept to accept the appropriate alloy of retailers, restaurants and entertainment. We are additionally actual community-focused, ablution a new affairs Live 360. That is alone focused on association and authoritative our centermost the hub of our community.”
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