New Mall on University Parkway
November 4, 2008 by Perry Corneau · 3 Comments
Recently the Benderson Group and it’s partners have received final approval to pull permits on the construction of their new mall on University Parkway. The mall to be called the University Town Center will be modeled after the Mall at Millenia in Orlando. The developers expect that at least 70% of the retailers in the mall will be new to the Sarasota area which they say has been undeserved by the luxury retail segment. Currently shoppers in our are have to travel to Tampa or Naples to shopp at a Tiffany’s or Neiman Marcus. Additional retailers will include the likes of Pac Sun, Talbots, Abercrombie & Fitch, Jimmy Choo, Louis Vuitton, Cartier, Chanel and Vilebrquin. Soon locals and international travelers will be able to enjoy such stores right here in Sarasota. Such high end retailers will be good for our area and will attract more international visitors to our town. According to Visit Florida, shopping ranks as the highest priority among international travelers while only fifth in importance among domestic tourists. This is one of the reasons the mall’s developers are bullish on the project despite the current economic climate. They have indicated that they will pay for the project from their own funds if favorable financing terms are not procured.
Real Estate Broker and owner of Corneau & Associates International Realty.
I have lived in Sarasota for most of my life and have been a real estate broker in Sarasota since 1988. I am blessed to have the love of my wife Opal and our two daughters, Katie and Victoria. I can be reached on my direct line at 941-650-4626.
As if we need anymore retail around here! It is obvious that the wealthy are way more than the 1% in this area. I really think a lot of these retailers in the University area are going to tank!
I couldn’t be happier about this. I’m not wealthy and don’t care about Jimmy Choo and stores like that, but I live off University and it’s made me crazy having to drive all the way down to south Sarasota or up to Bradenton for stores that have always been within 2 or 3 miles of me in the New England area where I lived before. There is NO WHERE in my general vicinity to shop for clothes. Fashion Bug…. Wal Mart…. When the real estate market comes back, this mall should help the value of my condo. I know there will be restaurants there, as well, which means more places for local people to go. I can’t wait! Has anyone heard if there will be a Barnes and Noble or Borders?
Unfortunately the mall has been delayed pending improvement in retail sector.