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<br /> THE WALL STR
<br /> 'DETAIL. EMERGENCY STATS, JOURNAL .,�T�VTD�
<br /> STAT!
<br /> >Time again ,_,��
<br /> The number of for tech? rj ' "" i
<br /> 10Fit (; emergency
<br /> .N...)
<br /> • ' S >When wisdari "=r-= .. =
<br /> medical = _;,'=_`
<br /> technicians in INDEX is wrong s:. =:#, .
<br /> Page D2 .,•16',V-M.'_� fr.11
<br /> Minnesota is expected to increase 26 Business forum Pag04 Personal finance g D5-D7F=
<br /> Page D4 r;:rr.a.===':sq''•-_,•,," :,`;
<br /> percent,from 2,990 to 3,768, Business calendar Pag03 Sunday people -~r=;`
<br /> between 1998 and 2008.
<br /> www.startribune.com/business StOrTribune Sunday,March 17,2002
<br /> Owners of aging shopping malls and abandoned hg-box stores often face a quandary: Stil
<br /> Is it better to spend millions to renovate or could the property be razed?
<br /> This pair
<br /> ' !'- , .�=r• . . w.' ,, `; •, :` . business
<br /> F !,`,' 4. „ r ,•>>:t,x r. Pete
<br /> ( '� and Pe
<br /> ' ..s `r .. v: � .; s ��, make s
<br /> busine
<br /> In thre
<br /> ',' ,„ , • , s , they v(
<br /> <,3 raw<, _�,u<<,,,,,:.�_ r comp
<br /> i; ,3,. _ ;.,it.;I '''',PA-r-:=',--Z',',,', - - �;< 2',':''
<br /> - starte(
<br /> A weathered 'f''``l,F'`..,. �„u..o'�. , x._ ,' - „•> ',;--..:4-;;:;t ,, .:;=_':r,'
<br /> Apache Plaza pky `, 4, hone T
<br /> located off ,4,-•;',-.4-4;,.':::4"4,4'.g.--., .�. .a , Young
<br /> Sliver Lake �. { - > _=
<br /> RRd.,lists the „3, x _-<„$ 4 .•u}c',��, .-. r''',,,:)",;.
<br /> 1 4 ',4 d 4 _ - ”n y,',:`:./4f,h''' C:
<br /> ' t _ PL•
<br /> •,'.t yt5"r:,r:;,ten^ i _ - '/ _ �>y,�r,"y: _
<br /> agingmall s .. = .,, ` ,,,,„,„'''.1 ` ,,,
<br /> remaining :_a,. ._. ;:' ,,- ` __ ,... a : +►
<br /> anchor, ,« ., . ,-,,,A,,,4.
<br /> :iE` _ r.?':' r;"' 'tnn'y:M`i'',, >5,;'s,• s - `' Ute.
<br /> Herberger's , .. ,_ __, ;..{5>„ „ ,€'
<br /> and an adja- 'f,t, _'_ i' , '-" ''•41,0,,,,'-i-,,,,': z,:.z_:: i_ _ ^'t '
<br /> cent Cub : "
<br /> Foods store. , Y :x r et ,I, I
<br /> ,. ',, �,�� '4-`,,II,.;;� , � Chang
<br /> i, ',t_` f fF ' ,fir I 4 4. •. _ .
<br /> w. ,., � t a good
<br /> ill! i i I''i 1` '
<br /> :,r: - 4,,,< _ -iii 111 t'..,=,.,, -4. Em
<br /> . ; ,', em
<br /> Agiflg malls = _ - p
<br /> ■ =ryA,��� ..-,,,,,„,,,,,,,,,,,,,,,,,i„,, ' �„ r�fi��;f, - _ >� �,_,Nt ���, �,,,�'�;� ships
<br /> µ;ut �y)Y4,�.fi;na^Y. Lj` ''�" {Ftif��Lv�v r.; �'tr`':� �•`}�� r _ �=hp= -_--__ -F� 'r
<br /> . , > '.',.,_:, rvt.,7 ..,,r - .„ both
<br /> face a c 4"' ,jamn> tF _' ,' .a;. zr> ,,m ,r
<br /> '�- 4 .r' 'AT',,''; .;,. quail
<br /> .,",•ti, -,IM,'» —� ,i, '"' 1Z'. ' 'ASK-,, _ ,- _.. J''�,�<a-:•• - _ _ =
<br /> ,', '>' ','.'.„ r"rr',' ',')-,,,4. .4,,�.+ay^ `^:e _ '�; .rte__- - -- _
<br /> = , }�:. : , �.}_- ..
<br /> renovate, reuseto D4
<br /> .t .. ;,a , i.� "
<br /> -,1'' .Vit r`.
<br /> �+r .'-ua'T;:.. - -_- -__- _ ., .< °kyr- x
<br /> By Melissa Levy (;;txs ", ; =,y•';_` ,, Y01
<br /> Star Tribune StaffWriter Photographs by Tom Sweeney/Star Tribune
<br /> There's usually little activity in Apache Plaza,the agrg mall In
<br /> St.Anthony.Besides a few shoppers,the shopping center at- .._..w ; ,,, ;i7,I. _Y +-.,< '�•.fr.,. ? ,P,_ 411 ,>'
<br /> is not a good sign when there are more tracts regular mall walkers who love its open,uncrowded ex- w. i :, j ., ;PG,
<br /> mall walkers than stores at a shopping panne, „,,,-
<br /> :,,f.'. ,'''`V' v= ' m , 7 .7 "f, '"-^ '
<br /> Can
<br /> center. h4 �'
<br /> 10-1/2 TiVol
<br /> V- *' ';``�4 rlsacnk ybu
<br /> °� the a
<br /> That's the case at Apache Plaza, a :a1.11-;, " `' "` f"''*r'
<br /> Enclosed regional malls in the Twin Cities: ;',4 ' ""
<br /> ,','. , �.
<br /> onetime retailing gem that now sits �"..-.:`,,,.. ,P1,9:,-r"� �"' � +�'{' ��'
<br /> as the city of St.Anthony tries .' ,:,,4 4.)_' ' '~
<br /> mun
<br /> nearly empty :,. c :,Y xQI
<br /> sti .,,.; t ,,: -',;'i ' '' `
<br /> plan that has " s3 � ; i,e'
<br /> to finalize a redevelopment }` ` i°`' i: `"y' ` r-F,-`'r,. `
<br /> z•;., z 1 f 7. i does
<br /> been' ears in the making. `.r -k. ,? ,` �,et ' s' - "5 y " said .f. 5 ;, * 1 _ 5 .;• „ `94 l ,,'y-';+ �' All
<br /> v� ,-.;,,!'`i,." ' `- conf
<br /> "You've got the place to yourself, ,, 4 ;541V",,-
<br /> , �;�_ r,,.., -:? ,�� •'''' p4 �,� 1' `��--,w. ����'-
<br /> • . r)•.\p m (sot`,. : , �.,{�. -
<br /> Walt Slatoski,70,an avid Apache Plaza exer- Cc
<br /> F r t�(+>, • �`�pe� 31''__ - _ .. `, 'F man
<br /> ciser. ' '' -- , /mg1SINI f;% ,vtU+" ': f. iS $uM
<br /> ;Cil<� iii�Iy .,,. ;Ef.FtE(t1r;c : " ,,,.r ,
<br /> The Fridley resident points to one end of •- �, Q '5,, ".-,`,,-',1 ='
<br /> Cour lY'14 , ' '- M;x
<br /> the beige-tiled, enclosed mall where Mont- ." t„ "_� ,,,,, ), -''''''�' °' _ ' _ COM
<br /> Vis. ,, i '` 1,,.'w .; Y~' -�»
<br /> ome Ward&Co.thrived four decades ago 1- � INNP,AP�I: ® ..-A" '"'r '" largt
<br /> gry "`-.
<br /> before moving to nearby Rosedale Center, ', ' - "` ,' r
<br /> `y' "���.�# �t; 'LSO "`'�.�i _;;�ST.1'AUI-< ' 4 `,
<br /> and then closing after declaring bankruptcy. ;,i ' ":,, 9�, al re
<br /> �x. ;; r ,,, Empty shopping carts outside the Columbia Heights Kmart
<br /> Slatoski then looks toward Apache Plaza's ^3, .m 8 a `9 ?F'" `: :x :; store,which is expected to close in coming months.
<br /> other end, where J.C. Penney stood before ' 3 ,,,f-. • 1. 0 '� , ',If?,'•; ers t
<br /> closing in the 1990s. "This was the place to :, s r Gatti►',It. ,, r.`- '`=, >''='< ers.
<br /> go,"he said. - : , ',, x
<br /> � , : :u t 4� : boxes die,Owners of aging shopping malls often ',I,'',;„°, - ac 2 141A.K TA 52; • F;'.. When
<br /> face a quandary:Is it better to spend millions `,,,ps ',9, . ,.. -' '', i -•
<br /> to renovate and reposition the center, or _ ' '„•' "?"•= ' , ■ ■
<br /> should the property be razed for housing or YEAR BOLT SHOPPING MALL cities get creative
<br /> another commercial use? 1955 1/Knollwood Mall,St.Louis Park* i'
<br /> At least 300 older malls in the United 1956 2/SouthdaleCenter,Edina Som'
<br /> States have closed in the past five to 10 years, 1960 3/Apache Plaza,St.Anthony By Larry Werner
<br /> estimates Michael Beyard, senior resident hirin
<br /> fellow with the Urban Land Institute, a 1961 4/Har Mar Mall,Roseville Star Tribune Staff Writer
<br /> Washington,D.C.-based think tank. 1962 5/Brookdale Center,Brooklyn Center L
<br /> And he expects the same number to die in 1969 6/Rosedale Center,Roseville hoppers love the big-box retailers, and Ces:
<br /> suburban are building their
<br /> the next several years."We are not done with 1972 7/Northtown Mall,Blaine commercial futures communitieson the foundations of ce e
<br /> the cycle," Beyard said of a trend that can 1973 8/Galleria,Edina individual stores that have more selling in e
<br /> accelerate in a recession.He blames the glut 1974 9/Maplewood Mall,Maplewood 4 ndshopping centers used to. But in
<br /> a
<br /> of retail space nationally on aged and obso- 1975 10/Ridgedale Center,Minnetonka when those spaceretthans closeshotong stores, as Kmart to.and
<br /> Un
<br /> lete properties. 1976 11/Eden •Prairie Center,Eden Prams other chains have been doing in recent years, corn- the
<br /> 1977 12/Burnsville Center,Burnsville munities are left with empty boxes smack dab in the fin
<br /> MALLS continues on D8: 1992 13/Mall of America,Bloomington l middle of important commercial areas. WO
<br /> —Several older malls have attempted reviv- __ (14/Proposed:Maple Grove Center,Naple Grove)
<br /> alse continueco
<br /> BOXES cos on D8; yea
<br /> —There's no"magic formula"to decide a +}�nollwood was built as a strip center and later enclosed BB ClosingsES can bopportunities. pet
<br /> mall's future. Source:Minnesota Shopping Center Association
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