Mixed Use: Retail, Hotel, Residential
Client: Fuqua Development
Title: Mixed Use: Retail, Hotel, Residential
Category: Project Feasibility
Town Madison, a proposed $300 million mixed-use master plan project with plans that included a trio of distinct real estate parcels including hotel, residential and retail (big box/value, outlet and boutique), had invested with SSMG in a leasing feasibility effort.
As development credibility is pivotal during a proposed project’s feasibility process and pre-leasing phase, SSMG’s challenge was two-fold:
- Develop a leasing strategy that effectively showcased Town Madison’s plans for outlet retail in the context of the innovative vision for its overall mixed-use project
- Ready a strategic and ongoing marketing communications program to continue the project’s momentum with outlet retail decision makers immediately following the conclusion of its feasibility study
Given the challenging and changing retail environment with many leading brands operating with limited open to buys, effectively positioning the project from a marketing standpoint during its feasibility period was paramount.
Not only would Town Madison be the home of North Alabama’s Only Outlet Center, but it would be located in one of the country’s most forward-thinking mixed-use developments, to date. Therefore, SSMG’s recommendations centered on expanding marketing messaging beyond its proposed retail component that would tell, and sell, the Town Madison overall story as Retail’s Future Destination.
- SSMG began its due diligence with a market tour of Huntsville, Ala. to experience the site for the mixed-use community first-hand, survey the surrounding retail market as well as lifestyle landscape and develop in-depth market knowledge.
- Recommended a two-pronged messaging strategy to position both the outlet center village and master plan community:
- Town Madison: Retail’s Future Destination
- The District: North Alabama’s Only Outlet Center
- Created a leasing kit that introduced Town Madison to outlet retail decision makers in conjunction with the 2017 RECon dealmaking conference in Las Vegas.
- Developed a media outreach strategy aimed at securing media coverage with VRN, a leading trade publication, with the goal of sharing the Town Madison masterplan story weaving in the opportunity for retailers to successfully operate within the perimeter of the mixed-use community.
- Proactively developed both a tenant community eblast and trade media news release announcing the launch of outlet leasing efforts at Town Madison’s The District; both pieces were readied and held to be deployed following the evaluation of project feasibility efforts, post-RECon.
- Presented event concepts to execute a memorable Huntsville site tour, post-RECon, with select outlet retail decision makers interested in exploring plans for the components – hotel, residential, lifestyle (food & beverage, entertainment, outdoor spaces) and retail categories – planned for Town Madison.
- Developed an ongoing B2B trade communications strategy including 1) a prospective, category-centric tenant eblast series, 2) ongoing media relations activity and 3) social communications efforts to continue to create outlet industry awareness and excitement to become part of the mixed-use destination.
During its project feasibility period, proposed plans for the future development of Town Madison were well received by real estate representatives where the overall vision for the mixed-use property excited and intrigued.
And, as project stakeholders continue efforts to solidify development planning for major hotel, residential and big box/value retail outparcels, retail leasing efforts are ongoing.