New Portage Crossing Tenants Announced; Symon's B Spot 'Backing Off'

Good news is, several new businesses have either signed on, or are close to finalizing deals with developer Stark Enterprises for the proposed Portage Crossing marketplace. Bad news is, Michael Symon's B Spot and Panera Bread might be walking away from the project. 

At Monday night's Cuyahoga Falls City Council meeting, Stark Enterprises COO Steve Rubin offered a glimpse at the site plan, saying Best Cuts, Cinemark, Fashion Nails, Giant Eagle and Pet Supplies Plus had officially signed onto the project. 

Aladdin's Eatery, Chipotle and Huntington Bank had signed letters of intent, meaning negotiations have commenced and lease documents are being drawn up, said Rubin. 

There is also at least eight yet-to-be-named businesses or restaurants in negotiations to lease space at the proposed 241,000-square-foot, $42 million shopping center.

However, Rubin noted B Spot and Panera had initially signed letters of intent, but have since "backed off" from the project. 

The two popular restaurants were not included in the site plan he presented Monday. 

"We hope one or both will be part of the project," said Rubin in an April 23 phone interview with Patch. 

Menchie's was not on the list of signed or prospective tenants, but the frozen yogurt franchise intends to add a location at Portage Crossing, the Akron Beacon Journal reports. 

Despite the changes, Cuyahoga Falls Development Director Sue Truby is confident Portage Crossing, if approved by City Council in the coming weeks, will work to revitalize the State Road corridor and boost the local economy by adding hundreds of jobs and millions in revenue. 

During her presentation at Monday's Council meeting, Truby asked for the public to bear with the delays, and said if all goes to plan groundbreaking could commence in August followed by a fall 2014 grand opening.

She also referenced success the city has seen with other businesses and development ventures like Gojo, Sheraton Suites and Technicote, saying Portage Crossing is a risk worth taking that will pay off for "generations to come."

Finalizing the Portage Crossing deal

To help close the Portage Crossing deal, Cuyahoga Falls officials are asking City Council to pass an amendment regarding incentives Stark Enterprises would receive after it develops the $42 million, 241,000-square-foot retail center.

Cuyahoga Falls Development Director Sue Truby presented the restructured deal to Council at the end of its Monday night meeting, and asked that two major changes be made to the language of the contract:

• The city would provide Stark with a reimbursement of up to $50,000 per year for the first 10 years to cover electrical usage in common areas, such as parking lots and sidewalks. The original reimbursement was set at $70,000 for 15 years, but the incentives decreased since the project has shrunk from 391,000-square feet to 241,000 due, in part, to the elimination of Menards. 

• The city would offer up to $129,600 per year to Stark in the form of a movie ticket admissions tax that would be generated by sales at the proposed 10-screen, 35,000-square-foot Cinemark movie theatre. In the 11th year and onward, 100 percent of the money would go into the city's coffers. 

Council will review the deal further at its May 6 committee meeting and Mayor Don Robart, along with his administration, have encouraged Council to give final approval by its May 13 meeting. 

Truby said she'd like to close the deal before Stark representatives attend the 2013 Las Vegas International Conference of Shopping Centers on May 20. It's there that Stark hopes to find more tenants to fill the remaining space in the project, she said. 

Site plan approval

Stark Enterprises also submitted  its Portage Crossing major site plans to the Cuyahoga Falls Planning Commission last week, and they will be reviewed publicly at the May 7 Commission meeting.

Fred Guerra, the city's planning and zoning director, has begun studying the plans on an internal basis to ensure building design and landscaping specs, in particular, comply with city codes. 

Other design plans will be reviewed as well, like: lighting, parking, storm water runoff and engineering details. 

The application will be reviewed, and possibly approved, at the upcoming commission meeting, said Guerra.

If commission members give Stark the green light, site plans will then go before the Cuyahoga Falls City Council for final approval.