Wednesday, November 23, 2011

Major STAR Bonds Announcement Set for Monday

View Marion STAR Bonds District in a larger map
Expect a major announcement Monday from the folks behind the proposed Millennium Development project in Marion's STAR Bonds district.

No, don't expect the names of the major anchors for the project — the destination user and entertainment user necessary to get the project off of the ground. Instead look for the name of a partner with the heft to assist the Hollands in getting the overall project started.

The new partner offers 70 years of experience in designing, developing and managing real estate projects throughout the country, including recent projects in both the St. Louis and Chicagoland area. The firm has been "building lasting relationships" by specializing in "fully integrated solutions."

In terms of heft, they employ 150 people in their Chicago office alone.

Though there has been some griping about the speed of the project (or lack thereof), this step is a good sign. Especially, since keep in mind, this is the worst economic condition in decades in which to start a major commercial and retail development.

Can't wait to see what all Monday will bring, but for now, just know that the project is still moving forward.


Missy said...

Hey Jon,

check this out:
Will that happen here????
There was a response from the company that had a small stake in the development:
It was weird cause that's about all I could find.

Jon Musgrave said...
This comment has been removed by the author.
Jon Musgrave said...

From those links it looks like it's a loan on just one section of the Villages development (the retail portion of Kansas' STAR Bonds project).

The economy sucks -- yes, that's the technical term. It's one of the major delays in this project, and all major retail developments.

Some firms are expanding, but many are just sitting still, trying to wait and see what will happen.

Until Obama is defeated and sanity restored, we're all going to continue on this economic see-saw ride.

I think the move Holland will be announcing should help. I'm just glad we're starting to see some new development (both announced and unannounced) that's not waiting for the STAR Bonds to move forward (more in a upcoming blog post).

Anonymous said...

i just got back from gatlinburg ten ifsome would make little pigeon forgen in marion i think it would make it because you have 3 interstates 24 57 an 64 leroy n