Stirling Properties and CBL & Associates Properties, Inc. Celebrate Grand Opening Of Ambassador Town Center In Lafayette, Louisiana
Stirling Properties and CBL & Associates Properties, Inc. celebrated the Grand Opening of Ambassador Town Center today. A formal ribbon cutting ceremony was held with City-Parish President Joel Robideaux, Former City-Parish President Joey Durel, LEDA President & CEO Gregg Gothreaux, and Lafayette area community leaders.
Joey Durel, Gregg Gothreaux, Jason El Koubi, Joel Robideaux, Ryan Pecot, Marty Mayer
Ambassador Town Center is a roughly 60-acre retail project anchored by Costco Wholesale and Dick’s Sporting Goods/Field & Stream, consisting of more than 430,000 square feet. Located at the southeast corner of Lafayette’s ‘main-at-main’ intersection, Ambassador Caffery Parkway & Kaliste Saloom Road, the development will also include Avalon Salon & Spa, BJ’s Restaurant & Brewhouse, Blaze Pizza, Chuy’s Mexican Restaurant, Costco Gasoline, Dickey’s Barbecue Pit, Five Below, Freddy’s Frozen Custard & Steakburgers, Marshalls/HomeGoods, Nordstrom Rack, Off Broadway Shoes, Panda Express, Panera Bread, PetSmart, Phone Zone, Professor Bob Beans, Red Robin, Subway, Tao Japanese Cuisine, World of Beer, Verizon, and more supporting shops and restaurants to come. The retail center is currently 97% leased. Most of the retailers committed to Ambassador Town Center are either first-time locations within Lafayette or Louisiana, or both.
“We are excited to celebrate the grand opening of Ambassador Town Center and bring a unique customer experience to the Lafayette market,” said Michael Lebovitz, Executive Vice President, Development and Administration, CBL & Associates Properties, Inc. “This development brings a number of exciting retail and restaurant options, most of which are new to the market.”
“We are confident in the future and prosperity of this area. Ambassador Town Center is positioned in an excellent location that is experiencing tremendous growth and attracting new retailers,” said Townsend Underhill, Stirling Properties Senior Vice President of Development. “We are happy to continue our long and successful development history in the City of Lafayette.”
Ambassador Town Center has already created approximately 2,200 construction jobs, and is expected to generate roughly 1,700 permanent jobs and nearly $9 million annually in estimated sales tax collection, providing a huge boost for the local market.
Stirling Properties and CBL & Associates Properties, Inc. formed a joint venture to develop the center, and with less than two years of planning, construction began in January of 2015. Though not initially contracted to develop the highly anticipated retail center, Stirling Properties and CBL were able to adapt and deliver the project in an exceptionally timely manner when previous developers could not. The first tenant, Nordstrom Rack, opened earlier this month to significant crowds despite fierce weather conditions. Costco Wholesale and Marshalls/HomeGoods opened last Thursday, and more tenants are expected to open their doors within the week.
Stirling Properties has been at the forefront of commercial real estate investment and development in Lafayette and surrounding areas of South Louisiana. At a time when the local economy is fragile, Stirling Properties is bringing quality development and retailers to the area. At completion, Ambassador Town Center is expected to be the premier regional shopping and entertainment destination, as well as a vital economic contributor to the area.
Stirling Properties has developed more than 3.7 million square feet totaling $465 million since 2010, almost exclusively in Louisiana. Other Stirling Properties developments in Lafayette include Ambassador Row, Ambassador Row Courtyards, Stirling Lafayette and Village at Southpark, just to name a few.
For more information, please visit stirlingprop.com or cblproperties.com.
For leasing information, contact Ryan Pecot at 337.572.0246 or rpecot@stirlingprop.com or Tim Gilmore at 423.490.8358 or Tim.Gilmore@cblproperties.com. For information on Ambassador Town Center, please visit ambassadortowncenter.com.
Stirling Properties And CBL & Associates Properties, Inc. Announce Grand Opening Of Ambassador Town Center In Lafayette, Louisiana
Stirling Properties and CBL & Associates Properties, Inc. announce the Grand Opening of Ambassador Town Center and welcome new tenants. A formal ribbon cutting ceremony will be held next week, with newly elected Parish President Joel Robideaux and other local dignitaries.
Stirling Properties and CBL & Associates Properties, Inc. formed a joint venture to develop the center, and with less than two years of planning, construction began in January of 2015. Though not initially contracted to develop the highly anticipated retail center, Stirling Properties and CBL were able to adapt and deliver the project in an exceptionally timely manner when previous developers could not. The first tenant, Nordstrom Rack, opened last weekend to significant crowds despite the fierce weather conditions. Costco Wholesale and Marshalls/HomeGoods opened Thursday, March 17th.
Ambassador Town Center has already created approximately 2,200 construction jobs, and is expected to generate roughly 1,700 permanent jobs and nearly $9 million annually in sales taxes for the City of Lafayette, providing a huge boost for the local market.
Stirling Properties has been at the forefront of commercial real estate investment and development in Lafayette and surrounding areas of South Louisiana. At a time when the local economy is fragile, Stirling Properties is bringing quality development and retailers to the area. At completion, Ambassador Town Center is expected to be the premier regional shopping and entertainment destination, as well as a vital economic contributor to the area.
Research shows shoppers are spending more in home supply, clothing, and sporting goods stores, among others. And people are still eating out. Sales at restaurants and bars has jumped from last year. Consumer spending is healthy at many similar retail centers across the region.
“We are excited to celebrate the grand opening of Ambassador Town Center and bring a unique customer experience to the Lafayette market,” said Michael Lebovitz, Executive Vice President, Development and Administration, CBL & Associates Properties, Inc. “This development brings a number of exciting retail and restaurant options, most of which are new to the market.”
“We are confident in the future and prosperity of this area. Ambassador Town Center is positioned in an excellent location that is experiencing tremendous growth and attracting new retailers,” said Townsend Underhill, Stirling Properties Senior Vice President of Development. “We are happy to continue our long and successful development history in the City of Lafayette.”
Stirling Properties has developed more than 3.7 million square feet totaling $465 million since 2010, almost exclusively in Louisiana. Other Stirling Properties developments in Lafayette include Ambassador Row, Ambassador Row Courtyards, Stirling Lafayette and Village at Southpark, just to name a few.
Ambassador Town Center is a roughly 60-acre retail project anchored by Costco Wholesale and Dick’s Sporting Goods/Field & Stream, consisting of more than 430,000 square feet. Located at Lafayette’s ‘main-at-main’ intersection, Ambassador Caffery Parkway & Kaliste Saloom Road, the development will also include Avalon Salon & Spa, BJ’s Restaurant & Brewhouse, Blaze Pizza, Chuy’s Mexican Restaurant, Costco Gasoline, Dickey’s Barbecue Pit, Five Below, Freddy’s Frozen Custard & Steakburgers, Marshalls/HomeGoods, Nordstrom Rack, Off Broadway Shoes, Panda Express, Panera Bread, PetSmart, Phone Zone, Professor Bob Beans, Red Robin, Subway, Tao Japanese Cuisine, World of Beer, Verizon, and more supporting shops and restaurants to come. The retail center is currently 97% leased. Most of the retailers committed to Ambassador Town Center are either first-time locations within Lafayette or Louisiana, or both.
For more information, please visit stirlingprop.com or cblproperties.com.
For leasing information, contact Ryan Pecot at 337.572.0246 or rpecot@stirlingprop.com or Tim Gilmore at 423.490.8358 or Tim.Gilmore@cblproperties.com. For information on Ambassador Town Center, please visit ambassadortowncenter.com.
Ambassador Town Center Job Fair Today!
With the Grand Opening only a few months away on March 23, Ambassador Town Center is hosting a job fair today at the Wyndham Garden Lafayette on 1801 West Pinhook Road in Lafayette. 17 companies will interview applicants from 9 a.m. until 2 p.m.
Ambassador Town Center is bringing over 1,500 jobs to the Lafayette area. This will be a huge economic boost to Lafayette, during a time when the local job market has been bleak.
Nearly 1,700 people were lined up first thing this morning to interview for jobs ranging from entry level to management positions. The 17 companies participating in the job fair are: BJ’s Restaurants, Blaze Pizza, Costco, Chuy’s Mexican Restaurant, Dick’s Sporting Goods, Dickey’s Barbecue Pit, Field & Stream, Five Below, Freddy’s Frozen Custard & Steakburgers, Homegoods / Marshalls, Off Broadway Shoe Warehouse, Panera Bread, Panda Express, Red Robin Gourmet Burgers and Brews, Subway, Verizon Wireless, and World of Beer.
The job fair is sponsored by LEDA and Louisiana Workforce Commission. For a more detailed list of positions available visit http://www.lafayette.org/Jobfairs
To download a copy of the job fair directory and floor map click here.
Stirling Properties and CBL & Associates Properties, Inc. Celebrate Groundbreaking of Ambassador Town Center in Lafayette, Louisiana
Earlier today Stirling Properties, CBL & Associates Properties, Inc. (NYSE: CBL), City/Parish President Joey Durel and other dignitaries commemorated the groundbreaking of Ambassador Town Center, an approximately 425,000 square-foot shopping center anchored by Costco Wholesale. Other major retailers include, Dick’s Sporting Goods, Field & Stream, Marshalls, HomeGoods, Nordstrom Rack, Off Broadway Shoes, Chuy’s, Panera Bread, Freddy’s Frozen Custard & Steakburgers, BJ’s Restaurant & Brewhouse, World of Beer and Blaze Pizza. Most of the retailers committed to the project are either first-time locations within Lafayette or Louisiana, or both. The 58-acre site is located at the corner of Ambassador Caffery Parkway and Kaliste Saloom Road. Construction began this month with a projected opening of March 2016.
“Stirling Properties is excited about our partnership with CBL to develop Ambassador Town Center and believes that this joint venture brings the best possible team together to build this project,” said Stirling Properties’ Senior Vice President of Development Townsend Underhill. “We know this site to be an excellent location for a retail development in this market and we are happy to continue our long and successful development history in the City of Lafayette.”
“Ambassador Town Center is well-located and has attracted a best-in-class retail line-up even before construction commenced,” said Michael Lebovitz, CBL’s Executive Vice President – Development and Administration. “We are pleased to partner with Stirling Properties on this project and are looking forward to announcing additional retailers as the development progresses.”
Ambassador Town Center is expected to create approximately 2,200 construction jobs, 1,000 permanent jobs and generate nearly $9 million annually in sales taxes for the City of Lafayette.
“This project is a sign of Lafayette’s strong economy and our willingness to work with the private sector for needed infrastructure in our community,” stated Joey Durel, Lafayette City-Parish President. “Retailers like those that have committed will be a regional draw for Lafayette, and the public infrastructure that will be built with this project, providing a route parallel to Ambassador Caffery, is necessary for one of the fastest growing areas in the state of Louisiana. Companies make decisions on where to locate based on long-term projections. This decision says that they have confidence in the future of our area.”
“This investment is a reflection of Lafayette’s economic strength and success over the past 15 years. It’s undeniable that entertainment sector, including retail, is one of the pillars of Lafayette’s economic base. Entertainment contributed $2.4 billion to Lafayette’s GDP in 2012; and over the past 10 years the entertainment sector’s GDP has grown 62 percent,” states Gregg Gothreaux, President and CEO of Lafayette Economic Development Authority. “The Ambassador Town Center development will be a shopping destination, not only for local residents but for the region, magnifiying its economic impact.”
For leasing information, please contact: Ryan Pecot, 337.572.0246 or rpecot@stirlingprop.com, or Rodney Gordon, 423.553.8704 or rodney.gordon@cblproperties.com.
Stirling Properties and CBL & Associates Properties, Inc. to Commence Construction on Ambassador Town Center in Lafayette, Louisiana
Development over 90% Leased Prior to Construction Start
Stirling Properties and CBL & Associates Properties, Inc. (NYSE: CBL) announced today a joint venture to develop Ambassador Town Center in Lafayette, Louisiana. The approximately 58-acre site is located at the corner of Ambassador Caffery Parkway and Kaliste Saloom Road. The retail center will be built in one phase and will be approximately 425,000 square feet with major retailers including Costco Wholesale, Dick’s Sporting Goods, Field & Stream, Marshalls, HomeGoods, Nordstrom Rack, Off Broadway Shoes, Chuy’s, Panera Bread and Freddy’s Frozen Custard & Steakburgers. The majority of the retailers committed to the project are either first-time locations within Lafayette or Louisiana, or both. Construction is set to begin this month, with a projected opening of March 2016.
“Stirling Properties is excited about our partnership with CBL to develop Ambassador Town Center and believes that this joint venture brings the best possible team together to build this project,” said Stirling Properties’ Senior Vice President of Development Townsend Underhill. “We know this site to be an excellent location for a retail development in this market and we are happy to continue our long and successful development history in the City of Lafayette.”
“Ambassador Town Center is well-located and is well leased with an outstanding retail line-up,” said Michael Lebovitz, CBL’s Executive Vice President – Development and Administration. “We are pleased to partner with Stirling Properties on this project and are looking forward to announcing additional retailers as the development progresses.”
Ambassador Town Center is expected to create approximately 2,200 construction jobs, 1,000 permanent jobs and generate nearly $9 million annually in sales taxes for the City of Lafayette.
“This project is a sign of Lafayette’s strong economy and our willingness to work with the private sector for needed infrastructure in our community,” stated Joey Durel, Lafayette City-Parish President. “Retailers like those that have committed will be a regional draw for Lafayette, and the public infrastructure that will be built with this project, providing a route parallel to Ambassador Caffery, is necessary for one of the fastest growing areas in the state of Louisiana. Companies make decisions on where to locate based on long-term projections. This decision says that they have confidence in the future of our area.”
Public infrastructure improvements are being funded through a payment in lieu of tax arrangement (PILOT), which includes a new connection between Frem Boustany Road and Kaliste Saloom Road and multiple improvements to the existing road system. Under the arrangement, The Industrial Development Board for Lafayette Parish has agreed to allocate a significant portion of the property taxes that will be created by the development of this project, for a period of up to 12 years, to build the public infrastructure.
For leasing information, please contact: Ryan Pecot, 337.572.0246 or rpecot@stirlingprop.com, or Rodney Gordon, 423.553.8704 or rodney_gordon@cblproperties.com.
