Sometimes, to meet consumer demand you have to get creative. That’s what developer Centergy Retail, LLC, Dallas, did in the conceptualization of a hybrid power-lifestyle center in the heart of El Paso, Texas.
One of the few ground-up developments in the U.S., The Fountains at Farah will open October 2013 with 600,000 sq. ft. of best-in-class national junior anchor stores, fashion and name brand retailers, and upscale boutiques, restaurants and retail service uses.
But that’s not all. Amenities include fountains, a main-event lawn with amphitheater, covered parking, outdoor seating with shade, lush landscaping and vertical transportation. The two-level, open-air shopping complex will showcase an 1,800-ft. pedestrian walkway at its center.
And yet the biggest draw is the creative combining of formats to give El Paso and the entire Borderplex bi-national region the kind of shopping experience it wanted. “We’ve created what we call a ‘power lifestyle center,’ which is a regional shopping center with more than 500,000 sq. ft. and featuring an integration of large- format retailers with smaller, higher-end retail and restaurant concepts,” said West Miller, president, Centergy Retail.
The hybrid format allows the developer to attract a broader range of tenants to fill a wider range of consumer needs. While Centergy isn’t yet releasing specific tenant names, the majority of the 600,000 sq. ft. has already been leased to national retailers, many new to the El Paso/Juarez Borderplex market and all serving to inject vibrancy into the area.
“The Fountains at Farah will be a catalyst for much-needed revitalization of the Cielo Vista neighborhood in El Paso,” said Miller. “This power-lifestyle center will be one-of-a-kind with its two-level, outdoor design -- not just in El Paso, but in the state of Texas.”
From an economic standpoint, The Fountains at Farah estimates it will inject an additional $200 million in sales to the community, which will translate to sales tax dollars for both the City and the County of El Paso. “It will add an ad valorum tax base incremental to what is onsite already,” said Miller, “and will continue to add hundreds – if not thousands – of jobs offered by construction and the center’s retailers and restaurants, once opened.”
For leasing information, contact:
Walt Davis, Centergy Retail, 214-368-7200, firstname.lastname@example.org
West Miller, Centergy Retail, 214-368-7200, email@example.com
Paul Parkey, Webcor Commercial Real Estate, 817-377-3020, firstname.lastname@example.org
Rick Amstater, RJL Real Estate Consultants, 915-231-2001, email@example.com