MONROE — It won’t be the numbers of shoppers crowding into Cincinnati Premium
Outlets today, Aug. 6, that will indicate whether the new mall is a success
— it will be the merchandise in their shopping bags.
The economy is still affecting the way people shop, and with the new center
promoting its high-end options including Saks Fifth Avenue Off 5th and
Coach, the key will be if residents want to and can afford to buy anything,
said Thomas Hall, professor of economics at Miami University.
The timing for the mall “is already a bit peculiar because it is a risky time
for a new mall,” Hall said, but as signs indicate the economy is hitting
bottom, it may prove to pay off.
What may be a bigger driver for success is location.
That was the downfall of the former Forest Fair Mall, now Cincinnati Mall.
Located on the borders of middle class suburbs Forest Park and Fairfield,
the mall was swamped when it opened in the 1980s, but few people made
purchases at the high-end stores. Only months after the mall’s opening,
shopper numbers were down and the owner filed for bankruptcy, Hall said.
“The mistake was putting a high-end mall in the wrong part of town,” Hall
said. “But this is a high-end mall near Mason, West Chester and Monroe;
those are some pretty high-end areas so the mall may make sense.”
Officials from Chelsea Property Group, developer of the mall, estimate it
will generate $150 million annually in retail sales revenue. Kimm Coyner,
economic development director of Warren County, said based on that figure,
the county could receive $1.5 million in sales tax revenues.
Contact this reporter at (513) 705-2843 or email@example.com.
Grand opening schedule
Weather forecast: Mostly sunny, high 82, low 58
8 a.m.: Entry into parking lot
9 a.m.: Mall opens; ribbon cutting at Skyline Court
10 a.m. to 1 p.m.: The Chuck Taylor’s play classic favorites
1 to 1:30 p.m.: NBA Hall of Famer Oscar Robertson at the Nike Factory
2 to 5 p.m.: Robin Lacy & DeZydeco plays Louisiana style rock ‘n’
Pets: Not allowed in the shopping area
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