excerpts from a wwd story about the new natick mall.
Natick Mall Charts $500M Expansion
By Katherine Bowers
NATICK, Mass. — With an undulating steel-and-glass roof, custom-designed Neiman Marcus storefront and luxury condominium tower, a $500 million expansion of Natick Mall is intended to redefine it as the premier shopping destination in the Boston region.
“We want it to be the South Coast Plaza of this area,” John Bucks­baum, chief executive officer of Chicago-based General Growth Properties Inc., which owns the mall, said during a ceremony last week to celebrate the existing center’s interior renovation, phase one of a three-year project.
Construction crews are grafting a 550,000-square-foot wing, which includes a luxury court anchored by Neiman Marcus and metro Boston’s first Nordstrom, onto the mall’s footprint. It is to open next September.
Bucksbaum described 1.4-million-square-foot Natick Mall, about 20 miles west of Boston, as a “high-producing mall, in the upper 10 percent of our portfolio.” He declined to reveal the property’s sales per square foot.
Louis Vuitton and the area’s first Zara and Martin + Osa have signed on for space in the new wing, which will include about a dozen retailers that are not represented elsewhere in New England, Bucksbaum said.
In the luxury court, international luxury brands and upscale boutiques will be clustered around a 110,000-square-foot Nei­man Marcus designed with a huge sheet of golden metal rippling across a glass façade to mimic the movement of a skirt hemline. The two-story wing will have valet parking and several upscale restaurants.
A second court with an infinity pool at ground level and a “floating’’ circular mezzanine café will be attached to the new mall by skywalk bridges.
Natick Mall, where Sears is an anchors, sits at the crossroads of the Boston metropolitan area’s major thoroughfares: Interstate 95, the Massachusetts Turnpike and Route 9. This is the second-most affluent suburban market in the U.S., topping Tysons Corner, Va., Short Hills, N.J., and White Plains, N.Y., said Michael McNaughton, vice president of asset management for General Growth Properties.
“This is a statement to the power of the Boston market,” McNaughton said, adding the mall could become a one-stop option for high-end shopping. Downtown Boston’s luxury shopping is divided between Newbury Street and Copley Place.
The design — featuring an undulating ceiling and stylized birch groves with cascading leaves — plays off Natick, a Native American word meaning rolling hills. A rooftop park is planned for residents at Nouvelle at Natick, a 250,000-square-foot, 215-unit luxury condominium project set to open in 2008.