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Lafayette Square Moving Ahead Despite Closings
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(l to r) State reps Jeb Bardon and Cherrish Pryor, Mary Clark, State Senators
Mike Delph and Greg Taylor.
Photo by Jay Thompson |
(posted Jan 9)
Lafayette Square Mall Marketing Director Amanda Royalty described the loss
of Macy's as a sign of the economic times, not a reflection of the mall
or the area. Royalty, along with members of the Lafayette Square Area Coalition
and local and state legislators, gathered at a hastily called news conference
in response to local media reports of the mall's recent store closings.
Royalty said the mall owners, Ashkenazy Acquisition, would continue their
commitment to the mall's growth plans despite Sears and Macy's pending
store closings.
Royalty said they will find a replacement for what the shoppers are looking
for. Royalty is flying to New York on January 12 to discuss the situation
with the owners. She pointed out that there were no other malls in the
country that landed two anchor stores in 2008. Shoppers World and Xscape
both opened in the mall last month. Royalty said the mall owners have committed
$12 million in improvements to the area, with three to four million dollars
dedicated to facade and other exterior improvements.
Royalty said it was a Macy's corporate decision to close the store, despite
an increase in holiday sales. Macy's announced it is closing ten stores
in addition to Lafayette Square, including West Palm Beach, Los Angeles and Hawaii.
State Representative Jeb Bardon said that the retail climate is good. He
talked about the success of Walmart at I-65 and Lafayette Road, where he
owns a Subway shop in the store. "I see the profitability of the area."
He talked about the visible foot traffic and customers who are willing
to spend money.
"Ashkenazy, if they hadn't been in the last year, I am not sure what
we would be looking like right now. The investment of these two major tenants
has brought new life into this mall."
Bardon said the LSAC land use committee is reviewing Speedway's Redevelopment
Plan and the effects on traffic flow in the area if Georgetown Road is
closed. The possibility of extending Holt Road will also be examined.
Coalition President Mary Clark said the mall receives a "bad rap"
as an unsafe place. She said that shop lifting is no worse than any other
section of town. IMPD officers attended the conference to show their commitment
to protecting the area.
Clark talked about the positives of the area and the community's diversity,
highlighting last fall's multi-cultural parade and Taste the Difference
restaurant tour. The coalition thought it was important to have a news
conference to tell the public to shop at the mall. She said the coalition
advertised during the holidays to encourage shoppers to patronize the area.
State Senator Greg Taylor discussed possible legislation to provide incentives
for retail investments. Governor Mitch Daniels decided to take away the
Community Revitalization Economic Development tax breaks from retail stores
in 2007. Lafayette Square received a CRED designation to foster growth.
The area still receives a portion of sales taxes generated in the area
to use for infrastructure improvements.
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