Minor Site Plan Amendment Fashion Centre at Pentagon City
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SIMON PROPERTY GROUP Minor Site Plan Amendment Fashion Centre at Pentagon City October 2013 PORTFOLIO ENCOMPASSES ENTIRE RETAIL SPECTRUM VALUE LUXURY Premium Outlets® The Mills® Community Centers Lifestyle Centers Suburban Malls Luxury Malls • Simon is uniquely positioned as an owner, operator and developer across multiple retail formats • Nearly all retail distribution channels are represented, ranging from value-oriented centers to luxury malls • Irreplaceable/ iconic assets • 312 properties in 38 U.S. states* • 14 Premium Outlets in Asia, Canada and Mexico* Malls • 29% investment in Klépierre, a leading Premium Outlets The Mills European retail property owner Community/Lifestyle Centers *As of August 1, 2013 October 2013 2 IRREPLACEABLE ASSETS • Our portfolio includes assets of national and international renown – proven assets which are the preferred location for retailers – Approximately 100 properties located in the top 25 U.S. Core Based Statistical Areas Copley Place Fashion Centre at Pentagon Fashion Valley Gotemba Premium Outlets Forum Shops at Caesars Boston, MA Arlington (Wash., DC), VA San Diego, CA Tokyo, Japan Las Vegas, NV The Galleria King of Prussia Mall Lenox Square Orlando Premium Outlets–Vineland Roosevelt Field Houston, TX King of Prussia (Philadelphia), PA Atlanta, GA Orlando, FL Long Island, NY Sawgrass Mills Stanford Shopping Center Town Center at Boca Raton The Westchester Woodbury Common Sunrise (Miami), FL Palo Alto, CA Boca Raton, FL White Plains (New York), NY Premium Outlets Central Valley (New York), NY October 2013 3 Zoning Background • Fashion Centre is part of property of PDSP approved in 1976 • Site Plan approval in 1984 for 1,019,300 SF of mall (Commercial) area, 450 hotel units and an Office Building • Excess hotel density not yet realized (366 units constructed today) • Additional Gross Floor Area will be used to create outward facing retail and restaurants • Purpose of amendment is to convert approved, but not yet constructed, hotel units to retail gross floor area • Request is generally consistent with Arlington County planning policies regarding urban design: • Enlivens streetscape • Provides a visual terminus via activity for the 12th St. streetcar • Promotes walk-ability in Pentagon City October 2013 4 Expansion Statistics • 51,000 SF Gross Floor Area • 46,000 SF of Gross Leasable Area • 2 level expansion – approximately 45’-0” in height • Additional space for 5 – 7 tenants. • Tenants to be outward facing retail and restaurants • Will market space to fashion retail, fast casual dining and restaurants • Outdoor Café style seating October 2013 5 Proposed Expansion October 2013 6 Existing Ground Floor Plan October 2013 7 Proposed Ground Floor Plan October 2013 8 Existing Second Floor Plan October 2013 9 Proposed Second Floor Plan October 2013 10 Architecture Views of existing conditions from Hayes Street View of Expansion from Hayes Street October 2013 11 Architecture Views of existing conditions from Hayes Street View of Expansion from Hayes Street October 2013 12 Architecture October 2013 13 Elevations October 2013 14 Design / Storefront Precedents October 2013 15 SIMON PROPERTY GROUP Minor Site Plan Amendment Fashion Centre at Pentagon City October 2013.