Elk Grove Promenade construction halted?

It looks like the report from last Friday's Elk Grove Citizen was right - structural construction of the long-awaited Elk Grove Promenade appears to have stopped.

While construction of parking lots and grading continues, there appeared to be no activity on any of the structure when this video was shot yesterday. Compare this to a video shot about three weeks earlier.

So not only will local shoppers have to wait longer to abandoned other favorite shops in town in favor of the giant drive-thru strip center complete with fireplaces, the city of Elk Grove will have to wait longer to collect those eagerly anticipated sales tax revenues. This is really what it is all about after all.

The question to contemplate now is if General Growth is being squeezed by the credit crunch brought on by the foreclosure crisis? Or is the weak economy keeping anchor tenants from signing leases with GGP?

Video continuation - South side of Promenade





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