GROWING MARKET
Jul 1, 2000 12:00 PM, SHOPPING CENTER WORLD STAFF
Growing market One of Stonebriar's biggest assets is a prime location in what is called the "Golden Corridor" of the city of Frisco. Projected trade area demographics include a population of 332,700, with 132,700 households and average household incomes of $99,300. "We know the project will be a success due to the growth in the market area," says Bill Quinn, regional vice president of leasing for General Growth. The Frisco area is continuing to boom in new, high-end housing development. "It has grown faster than even we anticipated it would," Michaels says. A decade ago, General Growth realized that Frisco represented a prime retail area. "But I don't think we ever realized it was going to be this good, this quick," he says.
Frisco has proven to be a fast growing market with good demographics. "We have been working there for eight to 10 years, and just waiting until the time was right," Michaels says.
"We have a big presence in Dallas/Forth Worth, and we're very optimistic about the growth of that area," says Jon Batesole, senior vice president of development for General Growth. General Growth also owns three other properties in the Dallas/Fort Worth market including Vista Ridge Mall in Louisville, Town East Mall in Mesquite and The Parks at Arlington in Arlington.
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