Tanger shopping mall coming to Foxwoods
North Carolina–based Tanger Factory Outlet Centers, which owns and operates dozens of shopping centers across the country, will partner on the development of a mall at Foxwoods Resort Casino, the New London Day reported. Tanger, a publicly traded real estate investment trust, will build, manage and co-own the mall, according to Sheldon Gordon, development partner for the project. The roughly 320,000-square-foot, 85-store shopping center will be called the Tanger Outlets at Foxwoods. The Mashantucket Pequot Tribe, which owns Foxwoods, initially announced in February that Gordon would develop an upscale outlet mall on the site. The facility is slated to be the first “convertible” mall in the country, meaning it will have a retractable roof to allow for outdoor shopping in good weather. The tribe, which would lease the necessary land to the developers, said ground-breaking would take place this spring. Meanwhile, last month the state of Connecticut backed a plan for the Pequots’ tribal police department to become the leading law enforcement agency inside Foxwoods. The Pequots, who are struggling with some $2 billion in debt, had requested the change to reduce the amount of money they pay the state each year for security.
Combined MLS debuts
An eight-county listing service for residential real estate debuted last month with the completed merger of the Empire Access Multiple Listing Service, based in White Plains, and the Greater Hudson Valley Multiple Listing Service in Goshen. The newly formed Hudson Gateway Multiple Listing Service has some 24,000 properties in its listings database, and includes more than 1,500 real estate firms in the Bronx, Westchester, Putnam, Dutchess, Rockland, Orange, Sullivan and Ulster counties. It is one of the 50 largest multiple listing services in the U.S.
HGMLS is owned by the 9,000-member Hudson Gateway Association of Realtors, which was formed late last year by the merger of the Westchester Putnam Association of Realtors, the Rockland County Board of Realtors and the Orange County Association of Realtors. “The new HGMLS will provide a broader view of the organization’s role for real estate agents and the general public in the area,” HGMLS president Gary Leogrande said in a statement. “Our agents will now be able to access listings in eight counties through the lower Hudson Valley, providing even more choices for homebuyers.”
Amazon to build NJ distribution centers
Online retail giant Amazon.com has announced plans to open two sales distribution centers in New Jersey in 2013, the Associated Press reported. Locations have not yet been selected for the warehouses, which are expected to be about 1 million square feet each and cost a total of $130 million. Amazon.com also agreed to collect 7 percent sales tax on purchases made in New Jersey, starting next summer. The collection of sales taxes, which online retailers are not currently required to do, will bring the state an estimated $30 million to $40 million a year in new revenue, according to New Jersey Governor Chris Christie, who announced the deal with Amazon executive Paul Meisner. Trenton mayor Tony Mack said last month that he will try to lure Amazon.com to the capital city by creating an economic development committee tasked with “starting a dialogue” with Amazon and helping scout sites for the warehouses, the Times of Trenton reported.