Dakota79

Midtown Sears

138 posts in this topic

8 minutes ago, BeerNut said:

I've been out of town the past few weeks.  Is the tent city under the freeway still there?  

Everything west of Fannin was cleaned out months ago.  West of Main it was completely fenced in, and between Fannin and Main there has been strong enforcement to keep it clean (sometimes one of the Metro cops even leaves his car parked there).

 

The block east of Fannin may still have some people hanging out on occasion but it's nothing like it was, and if anyone is still there I don't even notice because it's far enough from Wheeler station.

 

That said, I've seen a few more people under the Pierce Elevated lately than in the past.  Perhaps that is an additional incentive to eliminate that then IH-45 is rerouted (along with trenching IH-69 near Wheeler) in the near future.

 

Back to the topic at hand, once 69 is trenched by the Sears, there is sure to be some related work done at surface level, so perhaps that would be the incentive necessary to push through this redevelopment of the Sears blocks.

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Wait, they are trenching it when?

 

Right now there is a massive tent community on Caroline so all they did was move in that direction. City needs to fence off asap

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55 minutes ago, iah77 said:

Wait, they are trenching it when?

 

Right now there is a massive tent community on Caroline so all they did was move in that direction. City needs to fence off asap

 

It's all part of the big http://www.ih45northandmore.com/ project.  There was an article posted recently that indicated that the timeline has been pushed up for this project, maybe as early as 2021, if I remember right.

 

Since the freeway would then be below grade, Main and Fannin and the light rail will all be on bridges, and the Fannin exit ramp by Sears will disappear without replacement.  That would probably reduce high-speed traffic in the area, making a large mixed-use district like the one proposed above even easier for pedestrians to get around.

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1 hour ago, rechlin said:

 

 

It's all part of the big http://www.ih45northandmore.com/ project.  There was an article posted recently that indicated that the timeline has been pushed up for this project, maybe as early as 2021, if I remember right.

 

Since the freeway would then be below grade, Main and Fannin and the light rail will all be on bridges, and the Fannin exit ramp by Sears will disappear without replacement.  That would probably reduce high-speed traffic in the area, making a large mixed-use district like the one proposed above even easier for pedestrians to get around.

 

I think the plan is to let bids for this portion in 2020.

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On ‎3‎/‎23‎/‎2017 at 4:14 PM, Houston19514 said:

 

They've already unloaded a bunch of their real estate (more than 40% of their owned locations and an even higher percentage of their valuable owned locations); that's part of why even they have finally been forced to admit they have little to no future.  And they don't have many unencumbered assets left to sell off or borrow against.

 

http://www.cnbc.com/2017/03/22/how-sears-ceo-lampert-cashes-in-as-stores-cash-out.html

 

An interesting read for anyone who cares to know a bit more of the financial dealings of Sears.

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9 hours ago, Sparrow said:

 

http://www.cnbc.com/2017/03/22/how-sears-ceo-lampert-cashes-in-as-stores-cash-out.html

 

An interesting read for anyone who cares to know a bit more of the financial dealings of Sears.

 

Current ownership was the high bidder for the rotting carcass of a company. Sounds like they pre-arranged the outcome of the eventual bankruptcy, without those structures, the end would have come much sooner and courts would have managed the asset sales that have occurred since this bunch took over, presuming that there is not someone out there that can resurrect that business model or find some other use for the brand.   

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6 hours ago, j_cuevas713 said:

Looks like Midtown Sears is close to being finished.... Finally

Perhaps. But I don't think that we should conclude that a potential bankruptcy will be a chapter 7.  It may be or it may be a chapter 11 (reorg) - in which case there may be a means by which Some Sears stores --- including our very own midtown location - remain open with new equity owners.

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Business bankruptcies generally start out as 11s, even if it's going to be a complete liquidation - there will be a plan put in place for liquidating the assets while the business's management keeps cash flow going as long as possible, rather than having the bankruptcy court operating things.  Once in a blue moon they get converted to an operating 7, but that generally occurs only when management is so completely disfunctional that you need a trustee appointed by the court to do the winding up.  (thus endeth today's exercise in being pedantic)

 

Regardless, Sears is pretty much toast; the thought process (or lack thereof) that got it there rather than remaking itself is pretty academic.  

 

It would be nice, though, if the mid century steel sheeting could be removed, the brick taken out of the ground floor windows, and the building opened to multi tenancy - it would make a decent alternative to the strip centers that seem to be overrunning Midtown.

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Can't believe all the celebration at the potential loss of retail.

 

When I lived in the area I used the Fiesta quite frequently to pick up a few things. 

 

What irks me is that huge surface lot between the Sears and the Fiesta and the underutilised green space around Wheeler Station. The area on both sides of the highway seem poorly used. 

 

A Ventana sized complex on that surface lot between Sears and Fiesta might help out the area a lot.

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The Sears Auto Shop is closing. May 26 is the last day they'll be open. 50% off what's left in the store. Spoke with one of the guys that worked there, Carl (perfect definition of great customer service, btw) and he said they might do something on the lot the auto shop is on and the big empty parking lot between fiesta and the sears. Sears own that empty lot and the auto shop and Rice owns the Sears building. VERY interested in what's to come with this development!

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The Sears Auto Shop is closing. May 26 is the last day they'll be open. 50% off what's left in the store. Spoke with one of the guys that worked there, Carl (perfect definition of great customer service, btw) and he said they might do something on the lot the auto shop is on and the big empty parking lot between fiesta and the sears. Sears own that empty lot and the auto shop and Rice owns the Sears building. VERY interested in what's to come with this development!

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On 5/19/2017 at 10:17 AM, drecey said:

The Sears Auto Shop is closing. May 26 is the last day they'll be open. 50% off what's left in the store. Spoke with one of the guys that worked there, Carl (perfect definition of great customer service, btw) and he said they might do something on the lot the auto shop is on and the big empty parking lot between fiesta and the sears. Sears own that empty lot and the auto shop and Rice owns the Sears building. VERY interested in what's to come with this development!

YES!!!!!!! I noticed this weekend that business seemed no existent. Great news!!! Place was a dump!

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