CHAPEL HILL -- Gourmet food retailer A Southern Season is getting a new entrance off U.S. 15-501, and the owner of University Mall is hoping it will drive shoppers farther into the mall.
Madison Marquette is investing millions - the company won't say how many - in upgrading Chapel Hill's only enclosed shopping mall. It has renovated the interior and will install new entry facades, lighting, landscaping and outdoor seating, along with a driveway between A Southern Season and K&W Cafeteria.
Paul Harnett, senior vice president of Madison Marquette, acknowledged that the mall hasn't met its potential before or since his company bought it 2-1/2 years ago for $40 million.
"The project, when we bought it, was not serving the needs of the community," he said. "We were buying a diamond in the rough."
Maintaining its identity
With a tight financial market, Madison Marquette has abandoned any radical redevelopment that would include condos or office space. The company is counting on increased access and improved facilities to strengthen the mall as a retail center.
"We're not trying to be a Streets [at] Southpoint," he said. "There are stores at this center that can't be duplicated."
A Southern Season, known across the U.S. for its gourmet gift baskets, provides an anchor for other boutique retailers like Cameron's gift shop and Metropolis women's clothing. With 366,000 square feet of space but only 41 tenants, the mall has plenty of room for more.
Harnett said now that upgrades are under way, his company will focus on recruiting new businesses, especially unique women's clothiers, locally owned restaurants, a bookstore and select national retailers such as Patagonia, which sells sports-oriented clothing and more. "They're national in scope, but they're not in every mall," he said.
At a groundbreaking Tuesday, the town's economic development director, Dwight Bassett, praised Madison Marquette for helping to build the tax base and create jobs.
"They're continuing to reinvest in the market when few are," Bassett said.
Harnett predicted that the mall will add 250 jobs and new tenants in coming months. The driveway is expected to open in late June, and the exterior renovations could be complete by late August.
