Popular Demand Leads to Outlet Mall Seeking Expansion of Future Retail Space
June 10, 2013
(West Palm Beach, FL) – At the same time the walls at the new Palm Beach Outlets Mall are going up, mall builders are seeking permission to add twenty five percent more retail space in the future in a proposed extension of the retail area on the property. The added space would not be part of the mall’s grand opening in 2014. Instead, it would be filled sometime later as needed. The additional space would be on the existing property.
The outlet portion of the mall is located roughly in the center of the property, with large stand-alone structures located along the perimeter of the property parallel to I-95.
On May 22nd, mall developers submitted plans to preserve their ability to build a new wing onto the center outlet portion. If approved, the new section would add approximately 25% more space for outlet retailers in the future.
The current plans that have been approved by the City of West Palm Beach include approximately 480,000 square footage of space for outlet retailers in the main portion of the project. But progress on finding tenants has been so successful that mall developers have now approached the city asking for an additional 113,000 square feet in the future. City planners are currently reviewing the request. Due to the nature of the request, planners would be able to approve the expansion themselves because it would still comply with the rules the city laid out at the start of the project.
The new section, highlighted in yellow in the diagram below, is a proposed extension of the main outlet portion on the northwest section of the mall property. Developers say the section is not part of their plans to open in early 2014. Instead, they say the request is to give them room to grow once the mall is up and running. There are currently no specific dates on when the extension might be opened.
If approved, the extension represents a 25% increase in the amount of space planned for the outlet portion of the mall. Developers have said they would make any needed adjustments to accommodate the future extension, including adding more parking if needed.
“The main portion of the mall is what’s currently under construction. That’s the section in the middle of the property,” said Rick Greene, Director of Development Services at the City of West Palm Beach. “This proposed new section is an addition to that central area.”
While mall developers are not revealing what retailers have agreed to open up shop on the property, it is believed that almost every section of the outlet portion has already been filled. As a result, because interest by other retailers in the property continues, there is a need to look at making plans to be able to expand a the portion of the property for future stores.
The mall is planned to open in early 2014. When it does, it is expected to add $120 million dollars of property value to the City’s tax roles. That translates to almost $1 million dollars in tax revenue for the City. The mall is also expected to create over 2,000 jobs generating $82 million dollars in wages.