PROJECT SPOTLIGHT
The Overlook
In 2011, five years after completing McIntosh Village, Trinity Development pursued a property right across the street. Trinity understood the challenging topographical characteristics of the land in the area and suspected the property was not worth the $6MM asking price. Trinity Owner, Vince Riggio, commissioned a rock study to confirm the depth and type of rock on the property. Trinity used the results of the rock study combined with a retail market study to negotiate the cost of the property from the $6MM asking price to $2.2MM.
Key Tenants
Female-Focused, Internet-Resistant Retail
Following the 2008 recession, retail was redefining itself. Shoppers were being conservative with their spending and wanted affordable retail options. Female heads of household were focused on meeting their family’s everyday needs – not wants. When the The Overlook opened in 2016, shoppers were greeted with female-focused, internet-resistant shops including T.J. Maxx, HomeGoods, and Michaels. Trinity sold the Overlook’s vision to Chick-fil-A and RaceTrack, two businesses that fit the center’s focus on safety and convenience for female customers. Trinity delivered the pads and both businesses eagerly built their own buildings to join the center.
An Ecological Opportunity
Directly adjacent to The Overlook lies a 4.5 acre plot of protected land maintained by the Southern Conservation Land Trust. The Trust was charged with preserving the land, but had no plan for utilization. Riggio hired an ecologist and approached the Trust with an idea to create a duck and wildlife pond with retention to filter the surface water runoff from the shopping center and give the community a place to experience nature. The Trust approved the plan. Today the pond’s foliage and vegetation filters water from the shopping center and provides a beautiful natural amenity to the community.
