Dallas’ Ritz Carlton in the heart of Uptown was the site of last week’s Open Air Summit, presented by the International Council of Shopping Centers. The three-day event hosted 400 top-notch retailers, developers, investors, and brokers from around the country, for a discussion on current trends and initiatives within the industry.
The conference was more of an idea exchange with brainstorming sessions than the usual ICSC deal-making events. Restaurant guru Phil Romano was a keynote speaker; he introduced the audience to his visionary Trinity Groves development in West Dallas. Romano spoke of revitalizing West Dallas, especially where the new Margaret Hunt Hill bridge crosses the Trinity River. Trinity Groves is a 75-acre assemblage for commercial and residential development, which should create hundreds of jobs in an overlooked section of the city just a few minutes from downtown.
The restaurateur-turned-developer-and-community-activist will initiate the development with his innovative incubation facility for up-and-coming chefs to perfect new restaurant concepts, thereby creating new retail tenancies—a homegrown tenant, so to speak. This is just another star in the firmament from the man who reinvented the hamburger with Fuddruckers and brought us sophisticated Italian cuisine with his Macaroni Grill.
But the Open Air Summit was about more than upcoming developments in Dallas. It was a time of serious dialogue as to where the retailing industry is going, and how real estate and real estate people will make it happen. Issues such as the Main Street Fairness Act in Congress, whereby online retailers will need to collect sales tax from purchases just as traditional retailers do, were emphasized repeatedly. Agenda items included the return of hiring for competent real estate professionals within several categories of retailers and developers, as well as building the next generation of retail real estate folks.
A roundtable discussions with about 10 participants provided dialogue and interaction. SRS’ own CEO, Chris Maguire, led one roundtable that focused on what makes a mixed-use shopping center successful in today’s environment. Breakout sessions of 20-30 people throughout the conference allowed everyone to participate, thereby adding value and the opportunity to share perspectives with colleagues around the country.
Finally, the Thursday night dine-arounds in several of the city’s finest eateries (Nick & Sam’s, Ocean Prime, Mi Cocina, and Pyramid) gave us locals a chance to show off our city and our great Dallas hospitality. What an excellent way to solidify new relationships over a great meal, conversation, and much laughter. Plus, there’s nothing like watching a Connecticut Yankee enjoy a Mambo Taxi and a Deluxe 57 from Mi Cocina. Even Phil Romano would have been proud.
Frank Bullock is executive vice president and market leader at SRS Real Estate Partners. Contact him at [email protected].
