Story posted Friday, June 5, 2009
Randhurst Re-Opening Delayed Again
By RICHARD MAYER Assistant Managing Editor
After recent delays, the grand opening of Randhurst's new lifestyle center will not occur until April or May 2011, Mt. Prospect Village Manager Michael Janonis and James Conroy, director of development for Casto Lifestyle Properties, confirmed this week.
Originally expected to open around Memorial Day next year, grand opening plans were then pushed back at the beginning of this past April to early fall of next year, 2010.
"Additional revenue to the village will just simply start a bit later," said Conroy. "The good news is that 70% of the shopping center will remain in tact, such as Home Depot and Costco; and that will continue for the village."
"The delayed opening will not impact the village fiscally, because we did not forecast significant revenues coming from Randhurst for the first few years," said Janonis.
The delays are attributed to a couple factors, Conroy said.
The first delay involves the final portion of interior demolition and asbestos abatement at Carson's furniture store. Originally expected to be completed by the end of May, work was just finished late last week. Another delay has to do with signing a lease for the new AMC movie theater.
Conroy said a lease for the new movie theater, to be moved to the east side of the Randhurst property, should be signed with AMC within the next 30 days. Conroy called the signing a "big component" of the overall project.
"Because of the slight delays with Carson's sliding us into this summer and not spring, we won't begin dirt work until this fall, not summer like we anticipated," said Conroy. "The majority of Main Street (main roadway for the new lifestyle center) was supposed to open spring 2010, but realistically it won't open until spring 2011, because of the duration of time it will take to complete the new AMC Theater."
Conroy said it will take at least 12 months to build a new theater and initial plans are not expected to be completed until this coming fall, which means crews will not begin ground construction until next spring.
"We would like to open everything together," said Conroy. "I think it would be less advantageous if we opened Main Street without the theater. However, this won't negatively financially impact the village."
"While Main Street will not open until 2011, the number of outlots under construction or proposed will continue and there will be new businesses coming to the Randhurst area this fall," said Janonis. "In no way does this delay reflect any hesitance on Casto's part."
In related news, shoppers and motorists passing by the former indoor mall will begin seeing exterior demolition immediately after the July 4th holiday, Conroy said.
Also this week, a new electric service and HVAC system for Carson's will begin operating.
Conroy added he and his staff are close to signing numerous leases with future tenants for the lifestyle center.
By the time the center opens, he said there should be 60-65 businesses operating on site.
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