Coral Ridge Mall

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Coral Ridge Mall
Coral Ridge Mall.jpg
Coral Ridge Mall
Location1451 Coral Ridge Avenue, Coralville, Iowa, United States
Coordinates 41°41′28″N91°36′11″W / 41.691°N 91.603°W / 41.691; -91.603
Opening dateJuly 29, 1998;25 years ago (1998-07-29)
DeveloperGeneral Growth Properties
Management Brookfield Properties
OwnerBrookfield Properties
No. of stores and services114 (as of August 2008) [1]
No. of anchor tenants 19 [1]
Total retail floor area 1,187,097 sq ft (110,284.9 m2) [2]
No. of floors1 (2 in Scheels All Sports)
Parking5,133 spaces
Public transit accessAiga bus trans.svg Coralville Transit: 21, 23, 24, 25
Website coralridgemall.com

Coral Ridge Mall is an enclosed super-regional shopping mall located just south of Interstate 80 in Coralville, Iowa. The mall's primary trade area includes Iowa City, Cedar Rapids, and other parts of eastern Iowa. [2] It is owned and managed by Brookfield Properties, which acquired the original developer of the mall, General Growth Properties, in 2018.

Contents

The mall has a total floor area of 1,187,097 square feet (110,285 m2), with a gross leasable area of 979,415 square feet (90,991 m2). [2] It also features a 1,000-seat food court with Wi-Fi internet access, a large "antique" carousel, a children's play area, and an NHL regulation-sized ice rink. While the ice rink is primarily used for public skating, the University of Iowa Hawkeyes hockey team plays most of its home games there.

The mall's anchor stores are PetSmart, Marshalls, Barnes & Noble, Dillard's, Ashley HomeStore, Marcus Cinema, The Iowa Children's Museum, Best Buy, Target, H&M, Scheels All Sports, JCPenney, Old Navy, Shoe Dept. Encore, Five Below, Ulta Beauty, HomeGoods, and Planet Fitness. [1]

History

Coral Ridge Mall opened on July 29, 1998, with 100% of its floor space leased. It attracted one million visitors in its first 30 days and continues to attract roughly 10 million visitors a year. [3] [4] It also spawned additional retail development at the interchange of I-80 and Iowa Highway 965, now known as Coral Ridge Avenue. Big-box stores such as Kohl's, Lowe's, Dressbarn (closed in 2019) and a Wal-Mart Supercenter (currently branded as simply Walmart) have opened in the years following Coral Ridge's opening.

In 2013, Sears closed. [5]

In July 2016, the former Sears was demolished to make way for six new stores. [6]

In April 2017, Coral Ridge announced HomeGoods, Marshalls, PetSmart and Ulta Beauty opens in September.

On April 18, 2018, it was announced that Younkers will close, as the parent, Bon-Ton Stores, is going out of business. [7]

On August 29, 2018, Younkers closed its doors permanently. The mall has four anchors remaining.

In March 2019, Five Below opens.

In November 2019, Ashley HomeStore opens in former Younkers.

In January 2020, Pier 1, which is by the mall, closed.

On February 21, 2020, Tuesday Morning opens, which closed in April 2023.

In May 2020, Forever 21 closed permanently and Scheels expanded to that space along with 6 more store spaces.

In April 2021, H&M officially opened their second Iowa location in the mall.

In February 2023, Planet Fitness opened as a new junior anchor, taking over 5 store spaces. The mall currently has 11 junior anchors right now.

Economic impact

When Coral Ridge Mall was planned, Iowa City business owners were concerned that the mall would take business away from them. While taxable sales in Coralville increased from $171.2 million in 1998 to $314.6 million in 1999, sales in Iowa City increased from $701.1 million to $733.3 million in that same period. By 2006 taxable sales in Coralville would grow to $549.7 million while sales in Iowa City grew to $901.4 million. [8] However, a 2000 report by Iowa State University economics professor Kenneth Stone stated that 18 eastern Iowa counties lost over $120 million in retail sales to Johnson County in Coral Ridge's first year. [9] [10] In addition, despite the overall increase in taxable sales, general merchandise and apparel sales in Iowa City declined between 1997 and 2007. [4]

Several malls in eastern Iowa, including Old Capitol Mall in downtown Iowa City and Westdale Mall in Cedar Rapids, saw an increased number of store closings after Coral Ridge Mall opened. [11] Most of Coral Ridge Mall's anchors, except for Younkers and Dillard's, relocated from other shopping centers in the Iowa City area; Younkers ran two stores in Johnson County before closing its Old Capitol Mall store in January 2005. By 2008, Old Capitol Mall and Sycamore Mall in Iowa City would rebound to 95 percent occupancy under local ownership while downtown Iowa City merchants began to focus on specialty retail. [4] [12]

Coral Ridge Mall was built in a tax increment financing district. The Des Moines Register reported on August 13, 2006, that the city of Coralville was using the $7 million in property taxes generated by the mall to pay off long-term debts on a new hotel and convention center instead of using it for local services. [13]

Incidents at Coral Ridge Mall

On September 3, 2003, during routine structural checks, officials discovered someone had been secretly growing marijuana near the mall's ceiling. No plants themselves were found but growing lights, gardening pots, and seeds were found in the roof space above one of the tenants. The amount of marijuana that had been grown could not be determined. The perpetrator faced an additional five years to their prison sentence due to the proximity of the Iowa Children's Museum in Coral Ridge Mall. [14]

On June 12, 2015, at approximately 7:30PM, a 20-year-old woman who worked at the Iowa Children's Museum was shot at her place of employment near the food court area. She was transported to University of Iowa Hospitals and Clinics where she died a short time later. An eyewitness, who worked at a kiosk in the mall, said the shooter was a mall security guard who had allegedly been fired for harassing the victim earlier in the day. [15] [16]

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References

  1. 1 2 3 General Growth Properties. "Store Directory" . Retrieved 2008-08-24.
  2. 1 2 3 "Coral Ridge Mall". Brookfield Properties.
  3. ↑ Meester, Tamara (2003-07-06). "Five Years Later, Coral Ridge Thriving". Iowa City Press-Citizen .
  4. 1 2 3 Rhatigan, Chris (2008-07-28). "Coral Ridge: 10 years later". Iowa City Press-Citizen.
  5. ↑ "Sears files for bankruptcy". KCRG. October 15, 2018. Retrieved May 4, 2019.
  6. ↑ "Former Sears space being demolished, replaced at Coral Ridge Mall".
  7. ↑ Aaron Smith (April 19, 2018). "Every Bon-Ton department store is closing". CNN. Retrieved April 22, 2018.
  8. ↑ City of Iowa City, Iowa. "City of Iowa City 2007 Community Profile: Retail and Wholesale Trade" (PDF). p. 52. Archived from the original (PDF) on 2010-12-13. Retrieved 2008-08-24.
  9. ↑ Stone, Kenneth E.; Artz, Georgeanne M. "Analyzing the Economic Impact of a Super-Regional Shopping Mall in Central United States". Archived from the original (PPT) on November 13, 2004. Retrieved 2006-10-19.
  10. ↑ Woodward, Heather (2000-07-16). "Mall drains cash from 18 counties". Iowa City Press-Citizen. p. 1A.
  11. ↑ Gardyasz, Joe (2003-12-01). "Major malls: Good or bad for Iowa?". Des Moines Business Record.
  12. ↑ "Editorial: Iowa City malls learn survival lessons". The Gazette . 2008-08-05.
  13. ↑ Eller, Donnelle (2006-08-13). "Mall revenue lets city go shopping". Des Moines Register. p. 6A.
  14. ↑ "Marijuana found growing in ceiling at coral ridgemall". m.qctimes.com.
  15. ↑ Davis, Andy. "1 dead in Coral Ridge shooting; suspect in custody".
  16. ↑ Davis, Andy (June 12, 2015). "One person killed in shooting at Iowa mall". USA Today.
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