The Transformation Of Denton Into A More....

NT80 · May 9, 2007

OK, so I tried to make it NT football related; and I think this (along with DART & widening I-35E) will eventually help UNT. This development "fight" outcome will affect outsiders image of Denton as a destination for not only games but before and after-game activities, dining, and shopping. First a Fry Street makeover, now Loop 288 and The Mall to be raided? Shoppers, fans, NT and Denton, will hopefully gain for the better from this modernization and move of Denton's major shopping area. Golden Triangle Mall vs. new Rayzor Ranch site (the ranch on the Hill by I-35 & University Dr.). I was at GT Mall this past spring after a long absence and I must say I agree it is a dying Mall. I've seen them in the Midwest and this has all the markings of a decline. A "newer" shopping area with some stores and restaurants new to Denton will be a needed upgrade in choices in Denton.

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Tension rising over retailers

Golden Triangle Mall, Rayzor Ranch developer compete for tenant stores

07:21 AM CDT on Wednesday, May 9, 2007

By Dawn Cobb / Business Editor

Gloves came off this week in what is becoming a retail duel between Golden Triangle Mall and the proposed Rayzor Ranch Town Center and Marketplace.

The Dillard’s store at Golden Triangle Mall is shown Tuesday. Mall owners are unhappy with the store’s planned departure to the Rayzor Ranch development.

Mall officials say the Rayzor Ranch developers are targeting their tenants while the developer of the open-air center says tenants are coming to them.

Developers announced last week that Dillard’s, one of the mall’s major anchors, intended to build a new store in the mixed-use development just down the road.

Since then tensions have risen between the two developers — Feldman Mall Properties Inc., which bought the mall at Interstate 35E and Loop 288 in March 2006, and Allegiance Development of Dallas, which is developing the 410-acre property at I-35E and U.S. Highway 380 with plans to open by the spring of 2009.

At issue is the expected tenant tug-of-war between the two shopping centers at the major north and south intersections into the city.

Larry Feldman, chairman and chief executive officer of Feldman Mall Properties, said he is concerned the mall could be raided and left to die.

“We’ve made the city aware that the anchors are being ripped out of Golden Triangle Mall and that’s going to have a devastating effect,” he said. “This is a case of robbing Peter to pay Paul and then shooting Peter right in the head.”

In a working site plan, Allegiance Development lists at least 116 possible tenants, including at least 26 in Golden Triangle Mall. Those 26 businesses occupy about 60 percent of the space at the mall.

The list also includes at least 11 stores now located on Loop 288 in Denton Crossing and Denton Towne Crossing shopping centers.

Most of the remaining 79 possible tenants would be new to the Denton area.

IF YOU GO

What: Denton Planning and Zoning meeting

When: 6:30 p.m. today

Where: Denton City Hall, 215 E. McKinney St.

Randy Holcombe, executive vice president of retail at Allegiance, said the working site plan, also known as a merchandising plan, does not reflect executed leases.

“All of the retailers I’m talking to now know it’s just a merchandising plan,” he said.

Allegiance bought from Dillard’s the building the retailer now occupies in the Denton mall.

Feldman said his company had attempted to buy the building from Allegiance, but the developer would not sell.

Feldman said he believes Allegiance plans to close the building and leave it empty once Dillard’s relocates.

“The cause, we believe, is to deteriorate Golden Triangle Mall and drain it,” Feldman said.

Holcombe refuted the claim.

“We bought it as an investment and our plans are to go out and re-lease the building,” he said.

Feldman said the Dillard’s purchase was just the first to come.

“This is not just a Dillard’s situation. There are other anchors,” he said, referring to the working site plan, which also lists J.C. Penney and Macy’s as main anchor stores in the new development.

Tim Lyons, a J.C. Penney spokesman, said he was unaware of the project, calling the list speculation. He also said the Denton store has been serving the community for quite some time and recently won the chairman’s award for best store in the area.

Ed Smith, a spokesman for Macy’s, said he had not received a notice from the real estate division of the company and did not know anything about a possible relocation or new site in Denton.

“I think they are going to be after every retail tenant of a fashion nature up and down the Loop 288 Corridor,” Feldman said. “I don’t believe we’re the only ones going to be opposed to this.”

Mall officials plan to ask city officials at Wednesday’s Planning and Zoning Commission meeting at City Hall to reconsider granting a comprehensive plan amendment and a special purpose overlay district for the 410-acre development proposed by Allegiance.

“We think that rezoning land to enable duplicate use is ill-advised,” Feldman said, adding that relocation of tenants could lead to the failure of the mall.

“To see a bombed-out mall at the gateway to the city would be an embarrassment,” he said.

When Feldman Mall Properties bought the mall last year, Feldman said the company planned to renovate it, revealing in February plans to spend an estimated $50 million to add a new food court, an IMAX theater and more.

“We buy them when they are sort of in trouble,” Feldman said. “Under the circumstances, we don’t know what to do at this moment. We’re having to pull back.

“Word has gotten out that effectively a raid is taking place for our company,” he said. “This has now hurt us in leases we were about to sign.”

Holcombe said that of more than 200 people responding to an online survey for Rayzor Ranch, about 55 percent were shopping outside of Denton.

“The Golden Triangle Mall isn’t satisfying their needs,” he said. “If the mall ever did implode, and I’m not saying it will, it’s still great real estate. A tired and closed mall isn’t the best use of that site.”

The issue of tenants moving from one location to another is not unique to Denton, Holcombe said.

“This is happening nationwide,” he said. “This has been tenant driven. These merchants who are there aren’t performing. In most cases, they have come to us.”

Fliers began circulating in Denton over the weekend at homes immediately surrounding the mall, officials said.

“We wanted to see if any local homeowner associations wanted to participate,” said Matt Ludemann, manager of Golden Triangle Mall.

The flier, showing a photo of a vacant mall pulled from www.deadmalls.com, stated, “Don’t let the Golden Triangle Mall end up like this.”

The flier, which asked residents to meet at Denton City Hall at 6:30 p.m. Wednesday, also stated: “The City of Denton is considering giving huge tax subsidies to large developer on the north side of town that will kill the Golden Triangle Mall’s Chances to Survive.”

Holcombe called the flier an act of desperation.

“If we have to deal with this as we have, we will go down swinging,” Ludemann said.

Edited May 9, 2007 by NT80

UNTFan23 · May 9, 2007

Part of Golden Triangle Mall's problem is access. The open area mall will more than likely have better in-/egresses.

CaribbeanGreen · May 10, 2007

GTM is a decrepit shell of what it was in 2001/02 or so, and it wasn't that good THEN...

greenminer · May 10, 2007

“We’ve made the city aware that the anchors are being ripped out of Golden Triangle Mall and that’s going to have a devastating effect,” he said. “This is a case of robbing Peter to pay Paul and then shooting Peter right in the head.”

Sorry, I don't feel for the mall like I do for Fry Street. No one is shooting you in the head. If you aren't offering tenants reason to stay, you're being out classed and need to step up. This is the name of the game.

Daddy Dumpsalot · May 10, 2007

Golden TM is a dump. They have a day-care in the mall for crying out loud. I don't want to see the mall die, but I am 100% for the Rayzor Ranch development. They just need to attracted different stores and not compete. I would like a Circuit City and maybe a Golf Smith in the Rayzor development. Maybe Cabellas too.

BTW if you go to their website www.rayzorranch.com you can take a survey about different stores you would like...you can also suggest that they dontate millions to the new UNT stadium for naming rights, 'Rayzor Ranch Stadium'

GabeGMG · May 10, 2007

It's about time Golden Triangle Mall goes, that place IS a dump. They should tear it down...and build a football stadium in its' place.

Green to the Bone · May 10, 2007

It's not quite fair or accurate to call GTM a dump. It's an older mall built on older marketing considerations, that's all. Lots of malls from the same era are in trouble. One in Richardson is being torn down for a Lowe's. The Barnes & Noble probably has been a boost to GTM, but there was also a Barnes & Noble at the Richardson mall that moved out after just a few years.

And it's true that getting into and out of GTM is a real pain, especially with the road construction on the loop. That's something the mall couldn't control.

The movies at GTM became a discount theater, another factor that was out of the mall's control. That said, they should have done something to get a megaplex on site. Cramming a megaplex into Valley View in Dallas has boosted traffic there, I imagine.

There's another mall in Tyler that's just about identical to GTM that was doing well the last time I was there, which was probably three or four years ago. Having to drive 90 minutes to get to Dallas might have something to do with the Tyler one's success.

Anyway, nobody's going to weep for GTM, that's for sure.

UNT_playmaker · May 10, 2007

From what I know. GTM is going to close as 60 % of its permanent tenants are being swayed by rayzor ranch... including Penny's and Macy's.....

GTM has been on the decline for a long time, and this was the last blow.

What will happen is it will get shut down in the next year or two, and I believe in my opinion it would be an optimal location for a stonebriar or vista ridge type mall. Great location, 288 will have six lanes by then, and also alot of riuch people who live in that area.....

The people who bought the mall last year got SCREWED.....

May 10, 2007

In their immediate future, GTM cannot compete with Rayzor Ranch. Then again, I don't know that a newer mall with a larger clientele could survive RR's impact.

If Golden Triangle Mall is to survive, it may have to rebuild and/or come up with a new concept. The area around the GTM still has a lot going for it. Some of the more popular Denton restaurants are located around the mall area. Just east across the tracks are some large mall area type stores such as Best Buy, Bed, Bath & Beyond, etc. and a Wal-Mart. There are apartments galore with room to build more. There could be a DCTA terminal located there in the future. It could still be a popular area for years to come.

If conditions ever warrant, maybe we could use their parking lot and run a shuttle to the new stadium. There, that tied it back into the football thread.

Travis · May 10, 2007

The GTM was the place to be....... thirty years ago when it was first built. They need to destroy that and put a brand new structure there complete with all kinds of modern goodness.

Seriously, I have heard how extremely popular and state of the art that place was when first built. It is time for it to rest in peace.

UNTLifer · May 10, 2007

Seriously, I have heard how extremely popular and state of the art that place was when first built. It is time for it to rest in peace.

This is very true when it opened. Of course, when it opened I was in the 8th grade, and I am now 41!

Smitty · May 10, 2007

Seriously, I have heard how extremely popular and state of the art that place was when first built. It is time for it to rest in peace.

It was a big deal when it opened. Until then, I guess the biggest gathering of shops was on University, but they were spread out. I haven't been in there in years, but it was a nice place when it opened and for several years after.

Daddy Dumpsalot · May 10, 2007

The Carnival seems to come to Golden quite a bit. Maybe they could tear down the Mall and make a permanent Carnival there, filled with plenty of Carnies...

greenminer · May 10, 2007

The Carnival seems to come to Golden quite a bit. Maybe they could tear down the Mall and make a permanent Carnival there, filled with plenty of Carnies...

*shivers* small hands. smell like cabbage.

NT80 · May 11, 2007

It was a big deal when it opened. Until then, I guess the biggest gathering of shops was on University, but they were spread out. I haven't been in there in years, but it was a nice place when it opened and for several years after.

Yes, back then the shops and theater on University were grumbling that the "new" Mall was stealing their thunder and tenants. Some of them moved to the Mall as it attracted new stores only seen in Dallas then too, plus a modern multi-screen theater. But times change in retail and it's either keep it refurbished and fresh or lose out to the new locations! It's the same with football stadiums. :rolleyes:

ColoradoEagle · May 11, 2007

I really didn't understand why that company bought the mall in the first place. Almost all malls in DFW, short of destination malls like Stonebriar, Northpark, and the Galleria have been losing business for years. I grew up going to Richardson Square Mall, and I've heard that's now completely shut down except for the Super Target and Sears. Everything is moving to outdoor stripmalls like the 288 developments and Rayzor Ranch. If I had to guess, the whole mall will be razed within 5 years and replaced with one of the largest super walmarts in DFW. Not something that would be pretty at all, just seems very likely. Personally I always liked GTM.

I do hope this doesn't affect the 288 shops at all, as they're too new to be empty buildings. Outside of that, the idea of having a shopping area in Denton that's better than anything within a 30 mile radius can only help to keep students in town, and to create more reasons for people to come to Denton on game days. Also I like that it's being built on the north end of town, and hopefully Denton will expand that way instead of continuing south and creating the image of yet another suburb of Dallas.

Edited May 11, 2007 by ColoradoEagle

Daddy Dumpsalot · May 11, 2007

But times change in retail and it's either keep it refurbished and fresh or lose out to the new locations! It's the same with football stadiums.

Good point. I think this applies to everything, not just real estate and retail.

Does anyone think that maybe the DART coming to Denton would be a bad thing? I was talking to a friend who lived in Garland and he said that when he was growing up it was a really nice city. Once they added the light-rail it quickly started its decline and now people think that its the 'hood'. Point being, does anyone think that this new rail might attract more lower income people to Denton since it's cheaper living and now they can commute to their lower income jobs in Dallas?

If so, I do not see the benefit for it as it would only bring Denton down.

ColoradoEagle · May 11, 2007

Most of Garland was the hood long before the DART rail ever got there.

CaribbeanGreen · May 11, 2007

Most of Garland was the hood long before the DART rail ever got there.

Yeah, i'll second that. The DARTRail had about zero to do with Garland being what it is.

UNT_playmaker · May 11, 2007

Yeah, i'll second that. The DARTRail had about zero to do with Garland being what it is.

True True

May 11, 2007

I lived in Garland for nearly 40 years and it's not anywhere nearly as bad as is being depicted. Garland has it's problems, to be sure, but finally we've had a few city councils lately that are in tune with the people's wants and are doing something about it.

Garland has a low crime rate per 1,000 and a good school system. In spite of its cooperative power system, service is generally good with few power outages. Until recently, Garland had to be the largest city in the U.S. without a mall of any type. Now, Firewheel is doing an excellent business and Garland's tax income has increased fivefold and continues to climb.

Dart light rail has helped, not hurt, Garland. Ridership is the largest of any Dart line. It is leading to a revitalization of downtown with numerous businesses and living areas to be added. There are plans for beautification of that area and a community college will be located there.

The city is being revitalized both north (Bush Tollway) and south (I-30). Firewheel, North Garland Avenue (Wal-Mart, Sam's Club, Super Target) and a restaurant row along 190 are keeping Garland shoppers and diners at home on the north while the Bass Pro Shop on the south is waking up business along I-30.

I don't mean to sound like the Garland Chamber of Commerce but Garland has really improved in the last year.

UNTflyer · May 11, 2007

Mall owners are unhappy with the store’s planned departure to the Rayzor Ranch development.

Well, boo-hoo! Maybe if your mall wasn't so crappy, they wouldn't leave!

2nd run movie theater... no food court... horrible access roads...

GTM needs to be razed.

Edited May 11, 2007 by UNTflyer

UNTflyer · May 11, 2007

The GTM was the place to be....... thirty years ago when it was first built. They need to destroy that and put a brand new structure there complete with all kinds of modern goodness.
Seriously, I have heard how extremely popular and state of the art that place was when first built. It is time for it to rest in peace.

Denton needs a business district... one that doesn't look like a dump. The GTM location would be a great spot for a couple 20-story commercial buildings.

If Denton wants to attract businesses and tap into the Barnett Shale boom, they need to act now.

Three universiities, a booming population, light rail coming in a few years... if someone were smart they'd buy that mall and build a "skyscraper".

meangreendork · May 13, 2007

GTM has a really, really good plot of land.

Well, it will be when Denton's roads department gets their crap together and finishes the work on Lp288. The road is great real estate, but the problem with the mall itself isn't the stores, but the way the mall itself was designed. Sadly, that probably wasn't done with a good budget. I'd flatten the property and try to build something else there.

Daddy Dumpsalot · May 15, 2007

I was thinking about the DART some more.

I was originally for it because I feel that it could help in the growth of Denton, but as of lately I am leaning more away from it. I still think that it would bring in a lot more lower income families chasing after cheaper living, this would bring the Denton economy down even more - and increase the Sunday evening 'Walmart' crowd.

I was thinking that maybe it would bring in more people with money that could spend it at places other than Wal-Mart, but I am doubting that now. Secondly, I think that it would greatly increase the number of commuters to UNT and UNT def. does NOT need that. I think it would increase the growth of UNT but by simply adding more unfaithful attenders who care only about getting a piece of paper and NOTHING about supporting the athletics or school period. And for those that don't commute but rather live in Denton not because they like it but rather because they don't want to live to far off and have to go through a rigorous commute, this might make it easier for them to live in a 'more desirable' place such as Lewisville etc. and now take the easier commute. I would prefer to have less, more faithful students rather than more, less faithful students (unless we incorporate a new stadium fee into tuition).