Banana Republic among others coming to center
Seven clothing retailers new to Northern Nevada, led by Abercrombie & Fitch and Banana Republic, were announced Thursday for the Summit Sierra shopping center in south Reno.
Developers of the 70-acre site under construction at the Mount Rose Highway and South Virginia Street said they hope the expanding lineup will help keep Nevadans in-state for their shopping needs.
"A sizable amount of sales tax dollars are going to Sacramento and elsewhere," said David Silverstein, principal of Alabama-based Bayer Properties, who toured the site on Thursday. "Our vision has been, we're seeking to bring in retail not otherwise represented here."
Already slated for the $100 million, open-air complex to open next March are two main anchors, Dillard's department store and Century Theaters.
In addition, other new-to-the-region retailers lined up include Williams-Sonoma, Pottery Barn, Coldwater Creek, J.Jill, Chico's, Patrick James and Yankee Candle.
In all, about 70 stores and restaurants will make up the 700,000-square-foot phase one of Summit Sierra, with the movie theater structure opening a month or so after the others, Silverstein said.
But he insisted his project will not compete so much with Meadowood Mall several miles to the north as it will complement Northern Nevada's biggest shopping destination.
"Meadowood will continue to do well. There's no reason to believe they can't coexist," he said.
"But by bringing a new retail mix, this (Summit Sierra) certainly raises the bar. It says something about the city when a Williams-Sonoma comes in."
Anytime a project of sizable magnitude opens, there's the possibility of dilution in overall business, said Jim Shabi, economist at the Nevada Department of Employment, Training and Rehabilitation.
"It's hard to quantify," he said, but he believes Summit Sierra will likely deter more shoppers from heading to California for its selection of retailers, especially during the year-end holidays.
And working in Northern Nevada's favor, Shabi believes, is its tremendous growth. To that end, he said, there's obvious strategy in putting Summit Sierra where it is.
"In that part of the valley, with all that growth, south Reno is probably under-served now," he said.
Shabi also points to the eventual hundreds of new jobs Summit Sierra will create upon opening.
"That puts more money into the economy in any case. It's a net positive," he said.
Silverstein said another 20 acres just to west of Summit Sierra will eventually become phase two, but there are no solid tenants so far.