The newly committed retailers and restaurants coming to RED's piece of the project include concepts by Adidas, BCBG; BCBGirls; Chili's Grill and Bar; Forever 21; Harry and David; Hash House a Go Go; Jazz-A Louisiana Kitchen; Lane Bryant; SegaWorld Sports Grille; and Sunglass Station.
In addition, Rainforest Cafe Creator Steven Schussler, CEO of Schussler Creative, in partnership with RED, will open two new concepts at the development, America's RoadHouse and Hot Dog Hall of Fame. Previously announced participants include Corona Cantina; Scheels; Saddle Ranch Chop House; Off Broadway Shoes; and T-Rex, another new Schussler restaurant concept.
The new Schussler concepts are part of a larger partnership between RED and Schussler that plans to open 40 new entertainment-themed restaurants and retail stores across the country in the next six years, in RED's projects and others. In addition to the three already mentioned, the new concepts include Winter Wonderland and Aerobleu.
Under construction at the confluence of Interstate 80 and Sparks Blvd., the Legends at Sparks Marina is considered a "destination development," a trend that combines retail, one-of-a-kind entertainment and attractions, activities and unique dining options. Unlike a typical shopping center that draws visitors from within a 10-mile radius, the expectation of a destination development is that it will attract most of its visitors from more than 100 miles away. RED expects the development to attract more than 800,000 new tourists and generate approximately $600 million in taxable sales annually.
RED's portion of the project got underway in April 2007 and the first phase is expected to open in the fall of 2008. Olympia Gaming last month acquired from RED the 14 acres for its project. It plans to break ground for casino-resort in the first quarter of 2008 and open the doors in late 2009 or early 2010. The project will include 500 hotel rooms and suites; a casino; a lakefront amphitheater; a private beach and dancing water fall show; several fine dining and casual restaurants; as well as a spa, fitness center and salon facility, and 50,000 sf of convention and corporate meeting space. A future phase would double the number of hotel rooms and expand the casino.
Legends at Sparks Marina is the second "Legends" branded product by RED. The original is in the Village West area of Kansas City, where in lieu of a casino-resort RED positioned the center next to an 80-acre Nebraska Furniture Mart, the Kansas Speedway, Cabella's and a minor league baseball park, placing it in the path of several million annual tourists.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
