This morning we wake up to see that Akcess has requested out of the Riverfront project. Blaming the crash of the housing market and poor economic times, they feel that the Dumke's are better suited to develop and manage the property.
Let me preface my comments by saying that I supported Akcess despite their desire to build an office complex on the site. I attended the first meeting at City Hall when they proposed a mixed use commercial development (at that time an office building was not the cornerstone) and I liked the idea that they were looking at. Since then, they changed course to make the office building the prime foundation for the development. I think it was then that things began to go downhill for this project. When they could not convince any major businesses here in Oshkosh (and make no mistake, Oshkosh Corp. is always looking or building more office space) to occupy space in that building, they could not break ground.
I am not a developer, nor am I an expert. I simply make observations and based on those observations I form an opinion about things that are happening. I find that people like new. If it is new and fancy it is sought after as long as it is new and fancy. If it becomes old and common, it is not as desired and therefore left to gather dust. Some cases in point are the strip malls along Hwy 41. I don't think anyone will argue that the 41 corridor is prime real estate in Oshkosh as it gets the most traffic. But there has become a great deal of empty commercial space all along that area. Most of that is the strip malls. Some of that vacancy began when WalMart relocated to Washburn. That mall has just about died since then with JCPenney hanging in there (I think that Miles Kimball is still there too but am not sure). Most of the shops that were there have either relocated to another newer strip mall or found independent locations nearby. Another case is the relocation of FEDEX/KINKOS from by PETCO and ALDI's to just north of Red Robin. I guess my point is that although new development is a great and wonderful thing for our city. It is usually at the expense of another older development when all of the businesses move to the new location leaving the old vacant. How many have we seen lately? I cited a couple of examples. are there readers out there that can tell us some more (perhaps some smaller less noticeable ones)?
Your thoughts?
(I will post again a bit later on what is proposed for the new developer on this project...)
KM
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3 comments:
Meet the new boss, same as the old boss!
7:39. That about summs it up.
Its too bad the City doesnt take control of the River front and build some canals like the River walk in San Antonio and in OKC,OK.
Put up structures for shopkeepers and local artisians to rent during the warm months (to sell their wares)But its probally too much to consider for a city the size of Oshkosh.
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