Thursday, September 29, 2016

Whole Foods Out in Midtown

Is this a sign of things to come or just another project that cannot get its act together? Either way it sucks because this much-anticipated mixed-use project in midtown has lost a major tenant who was going to occupy the ground floor of a six-story building. Pappas Investment has not made any comments as to why Whole Foods has pulled out of the project, but a spokeswoman for Whole Foods has said that a series of milestone were not reached that were written into the lease so Whole Foods choosing to step out of the lease. Phase one of the project began last week with foundation work beginning for a six story-parking garage on Capitol Ave. Phase two of the project was to included Whole Foods and 97 apartment above the grocery store beginning construction in late 2017.

SacBee article 

3 comments:

Mark Sharp said...

Sounds like a business decision. Any business downtown is destined to fail eventually. Will the new arena save downtown or a giant finical burden as bond payments to pay off the loan balloon bigger and bigger.

Anonymous said...

Sounds more like an inexperienced developer that bit more off than it could chew. The project simply missed deadlines, greatly. This will never get built as long as the current developer owns it, IMO.

Too bad, as I remember really wanting another grocery option in midtown other than Safeway and the Co-Op. Plus, the extra housing would've injected some really sustainable 24/7 life into a corridor that already has nice - but not great - foot traffic. Some businesses in that area still struggle, and I think extra residents would help sustain things.

On to the next...

Chris Norman said...

Whole Foods is a business. Of course it was a business decision.