THE MALL AT MILLENIA THROWS OPEN ITS DOORS
The Mall at Millenia throws open its doors to the general public today, and in addition to Fifth Avenue fashion, the shopping center also brings more jobs, more tax revenue and, potentially, more tourists to the Central Florida economy.
In fact, the making cheap louis vuitton bags from china of this mall has produced a ripple of economic activity throughout the community for more than a year and local businesses are thirsting for more work in the near cheap louis vuitton bags from china uk future.
“Hotels are replica designer handbags going to pop up in that area,” said Plummer Inc. Construction Group vice president Mike Percopo, whose Maitland company has already received about $1 million in work from the mall.
“Anything we can put our name on that is a landmark always helps in the marketing side of things.”
Thousands of workers have helped bring the 1.2 million square foot complex out of the ground. After construction began two years ago, Plummer and other local small businesses began to see contracts for roofing, electrical and fire alarm systems and phone installations.
Millenia’s upscale stores and restaurants are expected to create 4,000 to 5,000 new jobs, according to Forbes Taubman LLC, the mall owners.
Collectively, the 150 businesses in the mall could generate sales of as much as $300 million annually, says Real Estate Research Consultants, an Orlando market research firm that has studied the mall’s potential impact.
Government officials say Perfect Quality Louis Vuitton Replica sales of that order could mean sales tax revenue of $18 million shared by the state, Orlando and Orange County.
Still, the economic benefits of Millenia have been offset somewhat by what it cost taxpayers to get the project. The city paid $35 million to build the Conroy Road overpass that opened the land in southwest Orlando to development.
For the next 25 years, Millenia’s property taxes will repay the city for the interchange. That means the taxes will not be used for the Fake Louis Vuitton Replica Bags usual things that benefit all residents, such as filling potholes and police and fire protection. The city has done similar tax deals in the past.
“If all the taxes generated by the mall are going to pay for the bridge, rather than paying for other community needs, then how are we better off?” asked Doug Head, chairman of the Orange County Democratic Party and co chairman of CountyWatch, a government watchdog group.
HIGH END RETAILERS BRING PRESTIGE
Yet www.dolabuy.su , city officials and others in economic development said the mall will be a high quality replica handbags china plus for the community and Perfect Quality Louis Vuitton Replica a catalyst for greater development in southwest Orlando.
And, they add, one of the most significant benefits of the project may be one of the least tangible. With high end retailers that include Tiffany Co., Gucci and Louis Vuitton, the Mall at Millenia may give the region greater cachet in the world arena as Orlando competes against other markets for new businesses.
“I always call it the big, pretty bow on the package,” said Maureen Brockman, a spokeswoman for the Metro Orlando Economic Development Commission 1:1 replica handbags , which works to draw new employers to the area.
“Our quality of life replica louis vuitton aspects are part of what the community has to offer. It includes lakes and golf courses to great shopping and hospitals. The high profile nature of what goes into the Mall at Millenia can only be an advantage for us.”
And there’s a cachet to working at some of the stores, too. Anthea Salem is among the 500 employees hired by Macy’s, one of Millenia’s three anchor stores.
Salem worked at Banana Republic at Pointe Orlando before becoming Macy’s personal shopper.
“I zeroed in on Macy’s,” the Kissimmee resident said. “I didn’t apply anywhere else. It’s everything attached to its name.”
For the most part, the new jobs created at Millenia are not the high wage positions that economic development experts say Orlando needs to balance its economy. Most of the positions are expected to pay service industry wages that are well below the average Orange County annual income of about $29,800. And the competition that Millenia creates in the market could actually cause other retailers to lay off workers.
Still, the new jobs have been created at a time that Orlando’s unemployment is a relatively high 4.9 percent.
“Does it raise everyone’s standard of living? No,” said David Scott, an Orlando economist, referring to the Millenia jobs. “But I’d rather gain 5,000 jobs than lose them any day.”
And more jobs are to come. The $100 million plus mall, which was the largest retail construction project in Orange County’s history, is the centerpiece of a 410 acre development at Conroy Road on both sides of Interstate 4.
The master plan calls for an additional 1 million square feet of retail space.
The development also includes 2 million 1:1 replica handbags square feet of office space two buildings already have been constructed and three hotels with about 1,100 hotel rooms cheap replica handbags , said Jim Willard, a lawyer who represents the Schrimser family, which still owns 30 percent to 40 percent of the property.
“At build out, it will easily be several hundred million dollars” of development, Willard said. “It may generate high quality designer replica handbags wholesale $3 million or $4 million annually in property taxes.” The entire development is to be completed within five years.
The Schrimsers were part of the investment group that purchased the property for about $17 million in 1992. replica louis vuitton handbags It had been owned for two decades before that by foreign investors, including French and Mexican nationals, who bought a stake in the region after Walt Disney World opened, Willard said.
The key to the project was the Conroy Road interchange at Interstate 4. Without the overpass, which features prominent spires and extensive landscaping, there would have been no easy access to the mall or surrounding properties.