Farah Project Pushed Back

Quick Update:  From the El Paso Times:  

EL PASO – The developer of a proposed $100 million shopping center at the old Farah factory site on the East Side received no answers today on when City Council might look at possibly changing a tax-incentives contract so the developer would have several more years before the project has to be started and completed.   A City Council committee today, which reviewed the possible changes, sent no recommendations to City Council on the issue.  A vote to have an outline and analysis of the proposed deadline changes sent to the full City Council failed with a 2-2 vote.  City Reps. Eddie Holguin and Ann Morgan Lilly voted against sending the outline to City Council. However, Kathy Dodson, director of the city Department of Economic Development, said the outline would still be drawn up to provide answers for possible questions from City Council.
Click here to read more from the El Paso Times 

Interestingly enough, I read an article in today’s Wall Street Journal that talked about how there are telling signs of a strong economic recovery.  For the retailers to not sign leases doesn’t make as much sense now if people are beginning to spend again.  Maybe Mr. Miller will go back and check with these letters of intent to ask if they might want to sign on.   Click here to read the Wall Street Journal Article.  (I understand that for big companies, they want to see quarters of good growth before they launch expansion plans but El Paso is so underserved retail wise…it seems like a no brainer for some of these stores that will be new to the area.)
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West Miller, who runs Centergy Retail, says that they will more than likely not be able to complete the first phase of 

Conceptual Drawing

 the project by the 2011 deadline.  Since the economy is still sour, retailers are still hesitant about making the jump to ELP…remember, a certain percentage of the stores have to be new to the area.   This project will be good for that area and I agree that it needs to be delayed if retailers aren’t willing to make the jump just yet.  This delay doesn’t mean that the project won’t get finished sooner, it’s just meant to keep the tax incentives in place.  As Kathy Dodsonk said in the El Paso Times today, “If they get a benefit, we have to get a benefit.” which I think is only fair.  

As with any major developement project, market conditions are always changing and lets hope that we can see this place get built sooner rather than later. 

My name is David and I am living El Paso.

Farah project back online

Articles in El Paso Inc. and the EP Times have stated that we could see the Farah project in full swing by 2010.  With this in mind, I wonder what kind of retailers they have been speaking with.  Could we see a project like ABQ Uptown?   Not sure…but did you know that ABQ Uptown was a Hunt Project…as in Hunt who is based here in El Paso.

I  know that we don’t have as high an income and are the top metro area in the State but wouldn’t it be nice if we saw a project like ABQ Uptown set up shop here or maybe a lifestyle center like the one below?

What do you want to see retail wise in El Paso?

My name is David and I am living El Paso.

I have internet…and the weekend was great

I want to apologize for the delay in not posting the last few days.  Everything on my end is now fixed and I have access to the Internet again.  My weekend went well and I hope yours did also. 

How about Artemio De La Vega proposing his plan for the Farah site?  I like what he has to offer, but why didn’t he propose that the first time instead of complaining about how he was going to lose all of his tenants.  Even if his brother in law ( Paul Foster) decides against his idea, I would still like to see the guy implement the concept somewhere else in El Paso. 

Tell me your thoughts and what you would like to see done at the Farah site.

So I went to Barnes & Noble yesterday off of Sunland Park.  Maybe I choose the wrong time go when I travel there, but that place is packed.  It is always hard for me to find a parking space.  When I walk inside, there are people sitting on the floor (including me) reading their  books.  I have no problem with this, I love that people enjoy reading, but it is time for Barnes and Noble to invest a little money and either expand that store or move into what will be the empty Circuit City building.  We deserve the large B&N, like the one on the East Side of town.   Want to contact them?  Click here

Happy Monday and have a wonderful week.

My name is David and I am living El Paso.

Update on Farah, Impressions, & Amigo Airsho

The county had their vote yesterday on whether or not to approve $4 million in tax incentives for Regency Foster.  The result?  3-1 vote against giving Regency/Foster the money to go forward to remove the blight.  It’s too bad that El Paso has to lose out.  The drive on I-10 into town is not the prettiest and this project would have done a lot to help out that situation. 

If I remember correctly, Artemio de La Vega had said that if the project didn’t come through, he had plans to do something with the property.  Well…time to put your money where your mouth is.  I’m not one to get upset, but people that hold a city back for their own selfish reasons gets me fired up.  Simon properties needs to take a good look in the mirror too.  This company tried to get the same tax incentives a few years back and failed.  I guess they figured if they couldn’t have it, nobody else could either.

This project would have only helped El Paso and the way the agreement was set up…almost no risk with it for the city and county!

In other news…

I heard Impressions 2008 was great.  Found these videos on YouTube.  Thanks to staticcrave & javotobe for posting them.  I look forward to being at the show next year, assuming that there will be one.  I will try and find that out this week.

 

 

I also said that I would find and post a video of the Snowbirds from the Amigo Airsho.   Thank you to Danny Esparza for uploading this video from the show.

My name is David and I am living El Paso.

Federal Courthouse Construction Update + Farah

I drove by the new El Paso federal courthouse that is currently being built.  Construction is progressing and I believe that it is supposed to be completed by early next year.  The county decided to put off the Farah tax incentive vote for 2 weeks after they said they needed more time to come to a decision.  I’ll keep you updated.

 

 

 

 

downtown doubletree

 

My name is David and I am living El Paso

Farah decision due today

Today is decision day for Regency/Foster’s Farah development.  I attended Beto O’Rourke’s weekly Monday meeting yesterday at the Village Inn.  Pretty packed room to the say the least.  Kathryn Dodson, Director of El Paso Economic Development was the guest speaker.  The first 40 minutes were questions dedicated to the current status of the Farah project.  From what I gathered, the deal has a less than likely chance of passing.  The city  has prepared a final offer, but everything from Regency/Foster’s side says the deal is already over.  Mr. O’Rourke wouldn’t tip his hand on how he would vote today, but he appreciated the discussion. 

Also in attendance was Las Palmas Marketplace Developer, Artemio de la Vega, also Paul Foster’s brother in-law.  He delivered an emotional speech on why he opposed and why we should oppose the development.   He focused on saying that the Farah sites best use wasn’t for a power center, but for something else.  He never said what that something else was, but he said a power center isn’t best.  He also stated that his tenants were calling him up and saying that if their rent was not cut in half, they would leave for the Farah project.  Not sure if anyone else heard him say this, but he mentioned that he and some investors were looking into the site if the current project failed. 

As of this writing, El Paso City Council is currently discussing the issue with Regency/Foster, and a decision should be out in the next few hours.

UPDATE:   Regency/Foster has asked the city council to delay their decision one week on proposed $8 million tax break to allow R/F more time to continue negotiations.  Till next week…

My name is David and I am living El Paso.