AROUND TOWN: Northwest mall project still on the way
With the current economic conditions, it’s hard to believe Las Vegas is still building, or at least trying to. But the plans for the Streets of Montecito, the 850,000-square-foot retail center originally called the Great Mall of Las Vegas, haven’t been dumped.
Triple Five Nevada, the project’s developer, has been working on utility and preliminary construction work at the site, at Grand Montecito Parkway and Deer Springs Way. The last time the company released any plans for the shopping mecca, they had been changed from a traditional enclosed mall to a pedestrian-friendly promenade with a series of large and small shops, kind of like Town Square.
With other area shopping centers stalled and searching for financing, it’s an easy assumption that the Steets will never become a reality. But Triple Five is planning to take advantage of the situation. General Growth Properties, which owns and operates the Fashion Show, Boulevard and Meadows malls, as well as the shops in the Venetian and Palazzo resorts on the Strip, has been forced to delay its Shops at Summerlin Centre project near the Red Rock Resort. An official at Triple Five recently said the Streets could capitalize on that slowdown by moving ahead with its plans and providing big name stores like Macy’s, Dillard’s or Nordstrom with a new home in the northwest.
Regal Theaters and JC Penney have committed to space at the Streets of Montecito, and a bookstore and grocery store also could be part of the plans. The center was set to begin construction this year for a late 2010 opening, but that’s unlikely now. Officials say they are hoping to announce a full roster of retail tenants for the project early next year.