Tivoli Village counting down to grand opening
21 April 2011
Tivoli Village at Queensridge
- Indoor mall planned for Tivoli Village would add Summerlin retail options (4-11-2011)
- Tivoli Village at Queensridge beats the odds, hopes to fill retail niche in western valley (12-14-2010)
- 5 tenants announced for Tivoli Village at Queensridge (12-6-2010)
- Rotten economy hurts Las Vegas’ prospects for 2011 (11-19-2010)
- Developers of Tivoli Village acquire 23 neighboring acres (10-8-2010)
- Commercial market shows gains after months of free-fall (10-5-2010)
- Tivoli Village on track for 2009 opening (9-26-2010)
- No pressure on Tivoli Village (6-30-2010)
- Tivoli Village to open in March 2011, announces tenants (5-24-2010)
VEGAS INC Coverage
Beyond the VEGAS INC
In recent years, building a new Las Vegas development has usually meant adding a towering glass casino-resort to the valley’s skyline. But unlike the flashy behemoths on the Strip, west Las Vegas’ latest development is calling upon some old world charm to attract patrons.
Walking through Tivoli Village at Queensridge feels like strolling through a European village, with wrought iron balconies poking out from office fronts and marble and stonework covering the thousands of square feet of retail space.
Restaurants with patio dining line the faux boulevard of the development — more than four years in the making — where workers are prepping and training for Tivoli’s opening next week.
No detail has been spared in the $850 million budget to recreate the European-inspired development in the desert. Even the water fountains are elaborate — stone structures with gargoyle heads as the spout.
That’s because a trip to Tivoli Village is as much about the experience as it is the shopping, Executive Vice President Patrick Done said. That experience has been in the minds of executives of IDB Group USA and Executive Home Builders, the developers of Tivoli Village, since the project broke ground in 2006.
“It’s very easy when you develop to start cutting costs, especially in today’s market,” Done said. “We have not cut one corner on this development. It is so important to create an environment that is unique and that people want to be in. Merchandising is important, but it has to feel good. It can’t just be strip mall.”
Tivoli Village opens April 28 with 15 stores and restaurants, about half of the expected stores in Phase 1 of the project. Done said developers plan to have 30 retailers when the first phase is complete this winter.
The first phase of the multi-use development includes 225,000 square feet of retail space and restaurants and about 145,000 square feet of office space. Already, 54 percent of the office space and 72 percent of the retail space has been leased, Done said.
The Tivoli Village tenants are a mix of some well-known brands, such as Brio Tuscan Grille and a Land Rover dealership, and some new-to-the-market retailers like Charming Charlie’s accessory store, Obika eyewear and a gallery by photographer Bobby Wheat.
There’s also a gourmet hamburger joint, a high-end gym, a martini bar, Greek restaurant and medical spa, which will all open this summer.
“The goal is to be everything to everybody. Our retailers will be blend of all price points,” Done said. “Originally, our merchandising strategy was to capitalize on the need for high-end retail we saw in the market. That market has since changed.”
Shoppers will also find some family friendly options like Kidville, a children’s boutique and birthday party space, and a play area on the lower level near a stage where the village plans to host shows and events.
Although Tivoli Village is within a few blocks of several other shopping centers and restaurants, Done said the project fills a niche that the west side has been missing — boutique shops and food and beverage offerings.
“The market was crying out for food and beverage and additional retail spaces. People don’t want to have to go to the Strip to go shopping or eat at a new restaurant as sometimes people have to do when the go to Town Square. Our merchandising strategy really came from a lack of what was in the market” Done said.
Construction continues on the second phase of Tivoli Village, a 300,000-square-foot indoor retail and entertainment facility that will include a movie theater. That phase is expected to be finished in time for next year’s holiday shopping season.
Across Alta Drive sits an empty plot of land where Tivoli developers recently submitted plans to build an additional 750,000 square-foot indoor mall and 100 condominiums with a completion date sometime in 2015. The development backs up to Boca Park, another shopping center with more stores and restaurants.
But Done said developers don’t see Tivoli as a competitor to other shopping centers in the Summerlin area. They see it as a complement, which is often how they pitch the project when recruiting retailers, he said.
“People are really rooting for us to do well. I think Tivoli Village signifies a turn-around for people. We are a glimmer of optimism,” Done said. “You drive in on 215 and you see four or five different stalled projects along the way. We are the project that has been able to continue.”
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