Starmount, star bright, Friendly Center's on the auction block tonight
I'm not quite sure how to react to Starmount Co’s. plans to sell all of its retail holdings, including the Friendly Shopping Center, Brassfield Shopping Center, Westridge Center and even the new Shops at Friendly.
On the one hand -- with a few notable exceptions such as Tex and Shirley's -- most of the stores are parts of national chains anyway. You've seen one Barnes and Nobles, you've seen 'em all.
Plus, Koury Corp. sold another major shopping venue, Four Seasons Town Centre, and no one seemed especially bothered. Of course, that also could have something to so with malls' struggles in general to remain attractive to changing public tastes..
On the other, 50-year-old Friendly Center is in particular a local landmark. It’s sad to see it sold to an out-of-town owner, which appears likely.
I won't know those people. I know Coolidge Porterfield.
Comments (4)
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Allen,
I have no problems with an out-of-town owner. Please tell Mr. Porterfield that if the new owners do not continue the tradition of the inflatable Santa at Friendly Shopping Center, I will never shop there again. Some things are better not messed with.
MD
Posted on April 5, 2007 8:51 AM
On that, we agree, Mad Dog. The Godzilla-sized Santa is a local institution.
Posted on April 5, 2007 9:09 AM
well maybe we will finally get a Nordstrom......You know a city never arrives until it gets a Nordstrom.
Posted on April 5, 2007 9:56 AM
In the ongoing discussion concerning the potential sale of Starmount’s commercial properties, the assumption has been that local ownership provides benefit to the community. Our experience with the residential division in my neighborhood suggests otherwise. Starmount has successfully marketed approximately 600 lots in Friendly Acres over the past 2 decades. Since 1992, a Swim and Tennis Club within the subdivision has served as an attraction for potential homeowners. Having sold all available lots, Starmount’s executives now have refused to transfer title of this facility to the members, proposing instead to demolish the club structures so that additional lots or town homes can be developed. Moreover, Starmount has terminated its accounts to provide electricity, water and landscaping services to the common areas of the subdivision without any plans as to how maintenance of these critical community green spaces can be continued. I know Mr. Coolidge also. To date he has been unwilling to contribute one dollar of the tens of millions taken out of this area, to solve these problems that were of Starmount’s creation. Greensboro may well be better served by new management
Posted on April 11, 2007 4:47 PM