The neat little “measure distance” tool on Google Maps has the JCP building with a footprint of about 73,000 square feet. If it’s a two-level store, then that’s about 150k. In other words, see ya! I’m one of those weirdos who is somewhat nostalgic for old-time department stores so I’ll be a little sad to see JCP go, but it’s going for a good cause.
Is it North Hills proper or North hills East? There is a good bit of land on the east side along 440 that will get buildings.
I would really love to see Kane expand across 440 and redevelop the old office park just ITB from North Hills. Would be really awesome for some pedestrian/bike bridges across the highway to tie it all together. Maybe one day… Then again, reality is how long can we have 20-30 story buildings across the road from 2-3 story buildings before the land value skyrockets?
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Supposedly the news came from someone involved in the design process, and an eye towards end of the year.
My buddy who was recently informed about being laid off from JCP said that Penneys will be closing by years end.
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I don’t think that jcpenney ever owned their building. I recall reading some possibly apocryphal story about them having a lease rate set from the 1960s that was guaranteed to never escalate as long as they renewed it by 11:59, December 31st, and that extremely generous lease rate made this the most profitable store in the chain by some margin. But one year by a paperwork snafu they forgot to renew on time and somebody/bodies at the landlord’s office (not sure if it was Kane at the time) ringing in the new year by dancing in the hallways at their office to celebrate.
In spite of this, the store has been a very strong performer for them and I imagine they will hold onto it as long as possible. I have shopped there on occasion and found it to be (by my low standards) a non-awful experience. Even if the chain is dying, they seem to be trying to manage this store competently, since it is one of a few bright spots on their balance sheet.
At any rate it seems the last time their lease was up was in March 2018, when it seems they had a 5 year renewal option, which (given they are still open) it seems like they must have exercised. So it would appear JCP is probably going nowhere until 2023.
That said, both the JCP building and its deck are about 150k square feet, so it could be either. If this is the deck I guess it could start just about any time; if it’s the store, this could be the start of Kane getting his ducks in a row for 2023.
Here are links to the property card for the store and the deck.
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Oops, well OK,
Lease or no lease, if the store is closing that pretty much settles it!
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Your story rings true with what I heard as well. I recall the story being that they would not release their lease so that North Hills could take over all that area. Hence the reason the JCP store looked like crap while NH became nice. The story was that JCP was a real pain about the whole thing, and then the snafu you mentioned put Kane in the driver’s seat. I think at least part of that rumor was true, because supposedly after that snafu JCPenney prettied up their building. All this is rumor.
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@orulz
The tale of the legendary lease
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Thanks @JosABanks !!
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Site plan and building elevations are now uploaded… WHOA.
7 buildings over underground parking. Building floor heights:
Bldg P: 1 + rooftop
Bldg T: 4
Bldg U: 5
Bldg V: 12
Bldg W: 12
Bldg X: 3
Bldg Y: 11
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This will make North Hills a much better experience, but I suspect some NIMBYs across the street on Lassiter Mill. Those commercial buildings are going to be a lot closer to the street than the existing JCP.
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Looking at floor heights on the elevations, looks like the 12 story buildings would be residential or hotel. All others office. Ground retail everywhere.
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This is not a rezoning - all of North Hills West is already zoned for 12 stories. This does not go before council or even the planning commission. This is just a site plan review. All they have to do is meet the letter of the zoning law, get administrative approval, and then nothing can stop it.
This is the same reason that every buliding in North Hills East doesn’t have to go back before the Council of No with hat in hand. The zoning is already in the bag.
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Wow, so this is moving forward?! I wonder what the timeline is.
Gotta say, I like this better than an old JC Penney I’ve never even been inside.
I hear ya, but they are probably going to make noise anyway.
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Hmm… 5 of those houses on the other side of Lassiter are not in the “Neighborhood Conservation Overlay District”. Wonder if there is the potential down the road to turn those into townhomes instead of R-4 ranch homes. Would still require rezoning for that though.
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Doubt it. Not much they can do. If anything, the owners along Lassiter Mill might want to rezone themselves to get a piece of the action.
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They need a BRT stop.
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NICE! Three 12 story buildings! And an 11, all clustered with great ground interaction.
There’s at least 60 stories amongst this group of buildings. Kane Realty rocks!
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