California Northstate University (CNU) and Elk Grove Mayor Bobby Singh Allen are working to attract new businesses to the long-suffering Stonelake Landing Shopping Center.
Stonelake Landing, located in West Taron Court near Elk Grove Boulevard and Interstate 5, has been owned by the university since 2018.
The center is currently occupied by companies such as Oz Korean BBQ, The Vyne and Spirits, and Dreaming Dog Brewery.
CNU officials previously intended to build a 13-story hospital in an area that includes the western part of the shopping center, adjacent to the university’s current Elk Grove campus.
However, after facing opposition from neighbors, business owners and environmentalists, the hospital’s proposal was eventually rejected by the Elk Grove Planning Commission due to its location within the 200-year floodplain. It was.
Last month, CNU officials announced plans to build a hospital on the grounds of the Sleep Train Arena in Sacramento’s North Natomas.
CNU is no longer pursuing the construction of a hospital near the campus, but is paying attention to Sacramento’s hospital planning and activation of Stone Lake Landing.
CNU president and CEO Alvin Cheung told citizens last week that a study on Stonelake Landing has never achieved more than 50% occupancy since it was built about 12 years ago. Currently 80% free.
“We realized that it had to be a place or purpose that didn’t meet the demands of the shopping center neighborhood,” he said. “So we considered all the other options. We realized that if we were to reuse the shopping center, we could take advantage of this property and benefit our neighbors as well.”
Chan said he would like to attract tenants who offer businesses that offer a variety of amenities that will attract neighbors in Stone Lake.
“We are working on that (plan),” he said. “Our goal is to lease it and exceed 50% points.”
Fine dining is one of the businesses that CNU wants to attract to Stone Lake Landing, Cheung said.
“We are actually looking for business owners who want to establish themselves in fine dining, fine dining,” he said. “(Such facilities) create a good living atmosphere. Other convenience stores may add to it. That’s what we have in mind and bring more convenience to the neighborhood. Is the goal. “
Stonelake Landing has about 25 business spaces, and Cheung expects to rent these spaces to about 18 businesses.
“That is, multiple (space) business owners will have a couple of units,” he said. “That is, from 2,500 (square feet) to 3,000 (square feet), these are the right size.”
Cheung talked about the future of the current Stonelake Landing tenant.
“For those who are doing well and confident, I think it will continue to work,” he said. “They stay or come back.
“One example was a well-run Japanese restaurant, but now it’s back. Another restaurant owner is back and says,” Well, maybe we can add to the diversity and choice of this neighborhood. I don’t want to. ” He is thinking of leasing two units. “
Chan added that he would like to have a pizza restaurant in the shopping center.
“That’s what we call’Game Day Food’,” he said. “You need to have it, so as far as I can tell, pizza is the way to go.”
Singh-Allen told citizens that her involvement in efforts to attract more tenants to Stonelake Landing began last month.
“Many stakeholders began contacting (and asked) after learning that CNU would develop a hospital project in Natomas, the former sleep train (arena) where Kings once played. For landing? “
“So I contacted Dr. Cheung and CNU because I wanted to be at the forefront, and I could start that dialogue. To make sure this shopping center is successful. It’s very important. I actually live in Stone Lake, so I have a personal vested interest in seeing the neighborhood vibrant. “
Singh-Allen said it is important to have a variety of SMEs in shopping centers and maximize their potential.
“To date, that hasn’t happened,” she said. “It’s a great place, but it was challenging from the beginning.”
She said she believes the shopping center needs a strong anchor business and needs help from Stone Lake residents and neighbors.
Singh-Allen emphasized her belief that it is important to focus on this shopping center and ensure progress.
“As the mayor of Elk Grove, I want our small business community and stonelake landing not to be ignored,” she said. “So Dr. Chan assured me that he was at the forefront and planned to help revitalize the region.”
But she also said that CNU has an incentive to occupy all the space in the shopping center.
“It also gives them their rate of return on their investment,” she said.
Looking to the future, Shin Allen emphasized the importance of not ignoring Stone Lake Landing.
“As the mayor, it’s my responsibility to ensure that this area is fully realized. It hasn’t been abandoned,” she said. “We don’t want another” ghost mall “situation where it’s annoying and with its abandonment. And I’m sure Dr. Chan doesn’t want that either. Because it returns to the value of the land and what they own. “
Singh-Allen called filling the center’s business space a “big goal.”
“Since the hospital isn’t here, the big purpose here is to make sure that all these spaces are filled, and we have a great business that can thrive,” she says. I did.
“It is very important to me to do this correctly, not only as a resident of this neighborhood, but also as the mayor of this city.”
Jake Rambo, chairman of the Stonelake Homeowners Association, has met Cheung twice and believes that both he and Cheung see Stonelake Landing as a place of great potential.
“I think Dr. Chan is aware of that possibility, whether they choose to do something or transfer the land to someone else,” he said. It was. “I think there is a big opportunity from now on.”
He added that he shared his vision for the center with Chan.
“I told Dr. Chan,” I think there are some very innovative things that Stone Lake Landing can do, “he said. “We need to move away from thinking about strip malls that surround parking lots.
“I want to use it for multiple purposes over there and set up more restaurants and amenities. I love to see something like an outdoor amphitheater where the community can come to listen to live music on weekends. . “
Regarding Shin Allen’s efforts at Stone Lake Landing, Rambo said he appreciates her “both-sided” approach to facilitating improvements at this shopping center.
He also hopes that people will eventually go to the vibrant Stonelake Landing frequently and maintain taxes in Elk Grove.
“Keep these taxes in Elk Grove, and we’re reinvesting in our community,” Rambo said.
CNU, mayor hope to attract new tenants to Stonelake Landing | News Source link CNU, mayor hope to attract new tenants to Stonelake Landing | News