Zion Crossroads outlet mall put on ‘indefinite hold’
07/22/08 * Daily Progress [full story]
Coach will not be displaying its new collection of handbags this fall in Louisa County as plans for an outlet mall in the Zion Crossroads area have come to a halt.
Retail developer Land Capital Group has put the project on “indefinite hold,” Scott Davison, the developer’s president, said, putting about 170 acres of land back on the market.
The outlet mall had already been named Merchant’s Walk and plans included retail stores such as Ann Taylor, Coach and Nike. The mall would have generated millions of dollars in yearly tax revenues, according to Bob Gibson, Louisa’s director of economic development.
Gibson cited the weakening economy as the sole reason for the project’s cancellation.
“Nationwide…retail is closing stores, not opening stores,” Gibson said.
Davison added that retailers had expressed only a moderate interest in the outlet mall from the beginning.
“At this point in time … retailers felt it wasn’t worth the risk,” Davison said.
Willie Harper, chairman of the Louisa County Board of Supervisors, also noted that there was doubt about whether people were willing to travel to Louisa to shop.

Recent Comments