11/24/09 Special Meeting - Laserfiche WebLink

Home

FORESTClTY City of Ramsey Town Center Proposal SHORT PUMP TOWN CENTER The Short Pump area is located on the west side of the city of Richmond, in Henrico County, VA. By the late 1.ggos, the Short Pump area was ripe for economic growth. Forest City seized this opportunity to partner with a local developer and create an alliance with Henrico County. The vision of local officials was to spark a growth in amenities, quality of life and tax base. Forest City conceived a lifestyle center and named it Short Pump Town Center. Short Pump is a two-level, open-air lifestyle center featuring sought-after tenants such as Nordstrom, Crate & Barrel, P.F. Chang's, as well as many other high quality restaurants and retailers. The ICSC has recognized the level of design excellence achieved, both in vision and execution, by awarding Short Pump with an ICSC Design Award in 2005. ~I~ ~ " II .. r: . . I'y Forest City was able to succeed at Short Pump by virtue of a public-private partnership structured with the County. A 5-yearTax Increment Financing Bond was issued to defray public infrastructure costs including streetscape enhancements to the public realm. That bond has been repaid in full, the tax base has expanded, and the County has received new infrastructure without tapping into the general fund. Short Pump has spawned an explosion of growth in the area, fueling the ancillary development sought by Henrico County. Nordstrom, Dillards, Macy's, Dicks, Crate & Barrel, Red Door Spa, Tommy Bahamas, Pottery Barn, Urban Outfitters, Crate & Barrel, The Cheesecake Factory ICSC Design Award 2005; 200g Maxi Sliver for Marketing Excellence Tommy Pruitt / General Partner Pruitt & Associates 1801 Bayberry Court Suite 100 Richmond, VA 23226 804-285-3800/ tommLpruitt@ pruittcompanies.com []]