THE JOURNAL & TOPICS NEWSPAPERS | WEDNESDAY, JUNE 7, 2006
Development Director: Thumbs Up On Uptown So Far
By DWIGHT ESAU
Journal Reporter
When Park Ridge officials decided to add about 20 new businesses to Uptown in the PRC Partners redevelopment, they gambled, in a sense, that existing businesses would welcome the newcomers and benefit from them.
Today, with five leases signed for around 20,000 square feet of retail space so far, at least one source close to the project says the Uptown business community tentatively is giving the project high marks.
"The feedback I am getting from Uptown business people is that they're excited, positive, and anxious for the project to move forward and get the new businesses open," said Kim Uhlig, the city's economic development director. "I haven't heard any negative comments, other than some frustration with some of the recent delays. They see the new businesses as bringing more people to Uptown. They are particularly interested in the specialty grocery anchor that is now under construction. They see a good possibility for the new businesses and existing ones to feed off each other positively."
The specialty grocer will occupy about 15,000 square feet in a retail-condo building now rising at Meacham Avenue and Northwest Highway, across the street from the Napleton Cadillac auto dealership. The store is tentatively scheduled to open this fall.
A total of 74,000 square feet of retail space will be leased in nearly half-a-dozen buildings in the $120 million redevelopment, which also includes more than 130 upscale condo units, and 24 townhouses and rowhouses on which construction is more than half completed.
Several other businesses - two restaurants, a specialty apparel boutique, and a children's store - are under leases and will occupy other buildings in Target Area II on which construction is set to begin later this summer or fall.
Mike George of Mid-American Management Inc., leasing agents for the project, also has reported recently that he is negotiating with several other businesses that have expressed strong interest in Park Ridge's Uptown.
Closing on PRC Partners' purchase from the city of the triangular-shaped parcel of land bounded by Northwest Highway, Touhy Avenue, and Meacham Avenue, formerly occupied by the city's largest water reservoir, was scheduled to take place this week (June 5-9). Most of the excavation work has been completed construction of an underground parking garage.
The garage will be used by condo residents in the redevelopment, as well as businesses and shoppers. It will contain more than 750 spaces.