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Open-Air Center Gasping for Life

NOVI, MI-Plagued with nagging vacancy problems, owners of the Fountain Walk have filed for Chapter 11 bankruptcy protection. With occupancy at 75%, Fountain Walk isn't matching success seen at other "lifestyle centers."

By Dan Heaton | Updated on September 21, 2004

NOVI, MI-Hoping to take on a vibrant life similar to an open-air mall in Rochester, it appears the Fountain Walk shopping center here may be gasping for air. PLC Novi West Development LLC, which owns the open-air shopping center, has filed for Chapter 11 bankruptcy protection, a move that could hurt efforts to lease up the property.

Fountain Walk opened two years ago but hasn’t seen the quick success seen at other similar open-air shopping centers or “lifestyle centers” such as the Village of Rochester. Fountain Walk recently added a Hooters restaurant and Lucky’s, a restaurant and billiards club, but is still only about 75% occupied. Second City Andiamo of Novi also plans to build a $7-million dinner theater complex at Fountain Walk. But the center has been slow to attract upscale boutiques and clothing stores.

The Village of Rochester features popular retailers such as Parisian and Pottery Barn, while Fountain Walk has mostly entertainment venues such as Emagine Novi theatre, a skate park and a miniature golf course. It does offer some retailers such as Cost Plus World Market and The Great Indoors.

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