The Greene
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The Greene, (known as the Greene Town Center), is a mixed-use development located in Beavercreek, Ohio (an eastern suburb of Dayton in Greene County), at the exit from Ohio Interstate 675 to Indian Ripple Road. The first phase of the center opened on August 24, 2006.
The complex is an established mixed-use, office, retail, dining and entertainment center and serves as the third shopping center in the Miami Valley region. The co-owner and developer, Steiner + Associates, is known for creating similar town centers such as the Easton Town Center in Columbus as well as other centers in the Cincinnati-Newport and Kansas City region.
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[edit] Development
The Greene is being built in two phases over 72-acres of land at a cost estimated exceed $200 million when complete. The developer provided the majority of the funding, but based on the $186 million estimate, the public's share is $14.8 million, or eight percent of the total cost.[1] This is the lowest percentage bond financing in their portfolio. The location of the property is within the southeast boundaries of Indian Ripple and Stroop Roads, just off the exit to I-675.
Phase I was developed in the period of spring 2005 until its completion in 2006. The first phase will include Lane Bryant, Brio Tuscan Grille, Victoria's Secret, Cheesecake Factory, Fleming's Prime Steakhouse and Wine Bar, Black House|White Market, Chico's and numerous other retailers and/or restaurants new to the Dayton area.
The development for Phase I will also include: a comedy club (The Funny Bone), a fitness club (Gold's Gym), as well as an upscale movie theater (Cinema De Lux). Phase I also includes 100,000 square feet of second-floor office space overlooking the town square and approximately 136 residential loft apartments that will become available in early 2007.
Phase I celebrated its grand opening on August 24, 2006 with some tenants still under construction. Phase I is expected to be fully leased by the end of 2007.
Phase II will focus on fashion and will include the anchor department store, Von Maur. Von Maur is sometimes described as the Nordstrom of the Midwest and features fashion, accessories and beauty products, but not furniture or other department store goods. It is known for its interest-free credit card, free shipping and free gift wrapping. Like Nordstrom, Von Maur is also known for a high degree of customer service, including handwritten notes from employees following purchases. Phase II will be completed in spring 2008.
According to the owners, the estimated new revenue created will exceed $23.4 million, with $8.1 million of that in local revenue. Principal beneficiaries are Greene County and Beavercreek City School District, followed by the city of Beavercreek.[2]
The owners want to make an impression of a central-style environment that becomes a civic center for outdoor concerts, holiday events and a family gathering space during the both the summer and winter, in particular children playing in the random pattern pop-up fountain during the summer. Research from other Steiner projects has evidenced that the number of visitors is essentially unaffected by seasonal weather.
The town center is designed to look like a classic American main street with public spaces, fountains, street grids and metered parking spots in front of stores. All metered parking benefits a charitable foundation. Parking in lots and garages is free.
Most of the construction work on The Greene has been completed, with all of the streets and parking structures open and ready for business. In addition to unveiling the completed town square, the center will shine with its new ornamental light poles and verdant landscaping.[3]
[edit] Controversy
Since its opening, the shopping center was a controversial topic among people in the towns surrounding the development. The land was once a wetland and Beavercreek officials have been debated on the economic impact, as well as members of its neighboring community Kettering. The criticism from Greene County residents who are opposed to the use of public money to help fund The Greene. Opponents also question if the area can support The Greene, The Mall at Fairfield Commons and the Dayton Mall.[4]
There were citizens protesting the mall due to the impact of it being a critical diversion from downtown Dayton.[citation needed] Steiner + Associates has countered by saying that Dayton was already suffering from shopper migration and that, if anything, The Greene will help the region retain shoppers who otherwise might travel to Cincinnati or Columbus.[citation needed]
The Greene's supporters believe that the impact will help Dayton by being a driving force for the region.[citation needed] Supporters are confident that shoppers from communities will be the main draw to shops.[citation needed] The affluent areas of Dayton, Beavercreek, Kettering, Oakwood, Centerville and Springboro are the core market for the shopping complex.
[edit] See also
[edit] References
- ^ http://www.daytondailynews.com/localnews/content/localnews/daily/ddn082006greeneinside.html
- ^ http://www.daytondailynews.com/localnews/content/localnews/daily/ddn082006greeneabout.html
- ^ http://www.steiner.com/projects/thegreene/overview.cfm
- ^ http://www.daytondailynews.com/n/content/oh/story/news/local/ddn082006greeneimpact.html
