So lets now take a look at a different community IN Mohave County and what the folks there have to say about their new retail commercial center located in Lake Havasu City.
Normally I link the article I'm taking information from. In this case I can't do that other than for this link here. The article comes from this months Economic Development Journal/Mohave County (article written by Regina G. Purcell). Yes, they have a website (I've linked to it) but in this case their paper version is much easier to read. You can pick one up in many places around town. We have them here at the office where I practice real estate.
The article's title is 'Wal-Mart Super Center newest anchor store at new open-air mall in Lake Havasu'. Now I realize that Wal-Mart won't excite the folks here in Kingman like perhaps a Target would. We already have our own Super Wal-Mart, and life is well... super because of it, right??
Anyway here's a few bits from the article...
According to Lake Havasu City officials, the 150-acre Shops at lake Havasu is projected to generate $3.7 million in transaction privilege (city sales) tax annually and once the large mall is fully developed and all of its store are in operation, the cmmercial outlets in the outdoor mall will collectively employ in the neighborhood of 2,000 new jobs.
Lets just play devil's advocate for a second, lets say the projected sales taxes are off by half, the city of Havasu would still rake in nearly $2 million dollars a year. Not bad.
While some will say that the 2,000 jobs will be of the low paying variety, it is possible that these jobs will help bring other employers (with higher paying jobs) to the area. This new commercial center improves the amenities of Lake Havasu City and therefore this has the possiblity of making their community more attractive to other opportunities. Plus, no matter how you slice it, just knowing that there is 2,000 employees at a mall has to be attractive to any new employer thinking of moving to the area. While retail jobs aren't normally career choices, they tend to be proving grounds for employees. Good employees often end up in better jobs because they've developed the skills need to prove their worthiness to employers looking for a better skilled employee.
Anderson Chrysler Jeep & Dodge in Lake Havasu broke ground in May on its new 38-acre auto mall, the first-ever in Mohave County. The first of several auto dealerships that will go into the auto mall is Anderson Toyota, which will occupy a 45,000 square-foot facility and showroom. Some of the additional auto dealerships may come from outside Mohave County.
Hey... isn't Anderson Toyota currently in Kingman?? Didn't I buy two brand new Toyota's there within the last 5 years?? Didn't a portion of the final sales price end up being sales tax collected by the City of Kingman??
And... if additional auto dealerships are to come from outside Mohave County, doesn't that mean that new commercial development attracts new capital investment into the area?? Yes... I think it does Martha.
With the estimated cost of the Anderson Toyota dealership building in the $6 Million range, together with the value of all of the land that is being developed for the auto mall, the entire commercial investment by the Anderson group in Lake Havasu is in the neighborhood of $20 million.
Seems like lots of money trading hands locally to me. Sure could use some transactions like that around our neck of the woods.
This fall, Ultrastar Cinemas, a 10-screen movie theater and Michaels Arts & Crafts store will open, Martin said. There are also seven out parcels of land available, which will likely house banks and fast-food restaurants.
Hey wait a minute... no fair!! Havasu already has a multiplex for catching first run movies.
You know for an article with the title of Wal-Mart in the header... there wasn't much talk of Wal-Mart at all. Plenty on new auto-dealers, retail business, new banks, a theater, and eating establishments though.
(confirmed tennants listed in the article appear to be: Wal-Mart, JC Penney, Dillards, Kay Jewelers, Amercian Eagle Outfitters, C.J. Banks, Christopher & Banks, Famous Footwear, Styles for Less, Bath & Body Works, and Victoria's Secret)
Well... that is how the other folks are livin' these days. Just thought you should know.