Elk Grove's Biggest Business Story For 2008?

In our view, General Growth Properties' Stiffing Of Elk Grove Trumps The Continuing Housing Collapse; Perhaps It Can Have A Constructive...

In our view, General Growth Properties' Stiffing Of Elk Grove Trumps The Continuing Housing Collapse; Perhaps It Can Have A Constructive Short-Term Use


Regular readers of EGN undoubtedly know that the collapse of General Growth Properties (GGP) has been something we have devoted many pixels to. GGP is the developer of what is beginning to look like a star-crossed development, The Elk Grove Promenade.

The more that time passes, the more it appears that The Elk Grove Promenade will be crushed by the Arden Malls and Roseville Gallerias of the area. While the half-constructed mall sits idle on our city's south side, other malls are capturing market share, loyal customers and tax dollars.

Unless there is a major turnaround in the next 12 months, it will become to Elk Grove what Florin Mall was to South Sacramento - a second tier mall that will end up being the whipping boy for the wrecking crew ball.

It really is a sad development for the citizens of Elk Grove. Even though it was initially viewed skeptically, once the people were sold on the idea of a mall, it was greeted with a degree of enthusiasm.

We were promised an indoor regional mall that would be a jewel for Elk Grove that would attract tax dollars. We are instead stuck with an a strip-center-on-steroids that is actually costing the citizens and City of Elk Grove their hard earned tax dollars.

But hey, it does have outdoor fireplaces!

Seeing as how GGP owes us, you and me, hundreds of thousands in fees and the half-constructed mall is becoming an unsightly eyesore, we have an idea that might make this albatross useful for a time.

Here it is - seeing as how GGP owes us money we might never recover, let the local fire and law enforcement departments use the facility as a training center. Maybe the training conducted on the overgrown-vacant-strip-center-on-steroids can play a role in saving somebody's life down the road.

Perhaps this disgrace hung on our community's neck can have some redeeming value in someone's life down the road. The way it stands right now, The Promenade is nothing more than an albatross around the necks of the good people of Elk Grove.

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Anonymous said...

The Lent Family needs to buy the property back, level is and grow hay! Greedy Bastards!

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