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Tom Kelly
Tom Kelly
The Real Estate Adviser

May 8, 1998

Park Meadows-style retail resort would do fine in Seattle

By TOM KELLY
The Real Estate Advisor

The locals here in Littleton, Colo., say Park Meadows would only work in Colorado but the retail resort would do just fine in downtown Seattle or Northgate, thank you. Really, how could a destination featuring a three-story waterfall, exquisite natural art and plush seating miss in our neck of the woods?

Clearly, the biggest mistake members of the National Association of Real Estate Editors made at their annual spring conference was to refer to the new, 1.5 million square-foot industry heaven as "a mall."

"We have not used the 'm-word' since the pre-design stage," said Pam Schenck, who serves as on-site general manager for owner/developer TrizecHahn Centers, Inc., the San-Diego based firm which opened the $165 million showcase in this Denver suburb two years ago. "The idea was to fashion Park Meadows after a National Park Lodge and I think you can feel it in every section under this roof."

And the roof system is one amazing structure -- reportedly the world's largest laminated beam configuration, supporting a network of ceiling glass. The center, located on 110 acres with 7,700 parking spaces, was built with indigenous materials from the Rocky Mountain region and honored by the Urban Land Institute for "leadership in the use of land to enhance the environment."

"We were trying to define a sense of place," said Tony Belluschi, the Portland architect who designed the retail destination. "The idea was to make it timeless -- much like a lodge you really remember enjoying. The philosophy was to recall that idea of the past and bring it clearly to the future."

That cozy feeling -- present in overstuffed leather chairs and two, 160-foot granite fireplaces -- appears to have brought the comforts of home -- or vacation -- to customers. According to Schenck, the average visitors spends approximately 120 minutes at Park Meadows, compared with 90 minutes at conventional malls.

And, all of that time is not spent shopping. Visitors have 12 stores to consider in the "dining hall," an oversized food court warmed by a stunning fireplace with seating for 700 people.

"From the earliest conceptual stages, we set a goal for ourselves that Park Meadows would be different from other suburban shopping centers," said Lee Wagman, president of TrizecHahn Centers. "That's been realized in so many ways."

One example is clustering. Malls tend to spread competitors --one cookie store would be at the other end of a shopping center from the other. This would entice shoppers to walk the entire mall in order to comparison shop.

In an effort to save time, retailers at Park Meadows are grouped into lifestyle, fashion, family, entertainment and home clusters. But the center, smartly tucked off a freeway exit in the nation's fastest growing county, definitely would fit in the Northwest. In fact, with Eddie Bauer, Starbucks and Colorado's first Nordstrom prominently placed, Park Meadows could easily be Park Sahalee.

"This place is a gold mine," Nordstrom general manager Tim Gary told reporters. "The store is exceeding our expectations."

In its first year, Park Meadows hosted 13 million shoppers who spent $245 million in 120 specialty stores and restaurants. The average of $430 in sales per square foot is far greater than the industry average of $278.

Retailers were asked to do something different or special in their spaces at Park Meadows, Schenck said. "We said 'we love your store and we want you to be a part of Park Meadows,"' Schenck said. "But because Park Meadows made a commitment to Colorado, we wanted to know what the retailer also would be willing to do. We basically asked, 'What is your store willing to do. We are going above and beyond the typical mall."'

Initially, it was a challenge to get retailers to accept the Park Meadows vision. They pointed to the Cherry Creek shopping center, the closest competition, and noted that 140 retailers were doing well there in a conventional mall atmosphere.

"It was new to the industry to shoot this high," Wagman said. "It has proven to be much easier once people were able to see how we were executing our vision. They finally could see the plans take shape, see the tenants buying in. Now it's an easy sale."

And it also would be in downtown Seattle -- especially if there is a fireplace and overstuffed leather chair to help me ponder where my children might be.



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