Phoenix LXIV: Will You Still Need Me, Will You Still Read Me, on Thread LXIV?
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11-12-2012, 03:15 PM
Join Date: May 2010
Originally Posted by
Tanger to bring 85 new stores to Westgate in Glendale
Tanger, they said, should make Westgate less dependent on the fate of Jobing.com Arena, which remains iced in controversy as the city continues to try to work out a deal with potential Phoenix Coyotes buyer Greg Jamison.
Glendale leaders have spent the past three years seeking a buyer to keep the professional hockey franchise and the fans in the city. One potential buyer after another dropped out of negotiations in that time.
did not seek any financial help from the city
. Instead, the mall is expected to generate $2.5 million in annual sales tax. The Tanger project cost about $76 million to build, company officials said.
Amazing how viable businesses don't need handouts from the CoG.
Something always seemed to be missing at Westgate City Center, Glendale’s signature entertainment and shopping district: critical mass.
The crowds from nearby sports venues and a movie theater were sporadic, not reliable enough to fill Westgate’s restaurants, bars and concert events on a regular basis.
That could all change Thursday, when Tanger Outlets Westgate opens nearly 85 stores. The mall will be a critical third anchor, along with Jobing.com Arena and University of Phoenix Stadium, for the Westgate complex. Up to 5 million shoppers will go to Tanger each year, according to the mall owner’s projections.
...Tanger Outlets did not seek any financial help from the city. Instead, the mall is expected to generate $2.5 million in annual sales tax.
There goes one of the central planks in the rationale for the Coyotes subsidy.
Also, the COG already has plans for the $2.5 million in new sales tax revenue generated by Tanger... they can use it to pay off the deferred annual costs for the $50 million in subsidies provided to the NHL over the past two years.
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