When you hear the term "fashion park," images from Vogue and In Style may come to mind. And while a fashion park does feature upscale retailers selling high quality apparel, it also provides an atmosphere and shopping experience all its own.

According to Bloomfield Hills, Michigan-based Taubman Centers Inc., developer of Stony Point Fashion Park in Richmond, Virginia, there are several characteristics that distinguish fashion parks from other shopping centers.

"The difference between a fashion park and a lifestyle or a strip center is the presence of department stores as major anchors," explains Steve Kieras, Taubman' group vice president of development. "Unlike most regional malls, fashion parks are open-air, and they are also smaller in size."

Taubman has been involved in Richmond since 1994. Even then, the company saw the need for finer apparel and upper-end stores and began development plans for an upscale shopping center. The result is Stony Point Fashion Park, Richmond' newest shopping destination.

The 690,000-square-foot center will be anchored by Dillard', Saks Fifth Avenue and a third major store to be announced. Up to 90 other stores, including four full-service restaurants, will be presented in two adjacent retail districts, The Promenade and The Park.

The Promenade extends 1,000 feet between a two-level, 204,000-square-foot Dillard' and a two-level, 80,000-square-foot Saks Fifth Avenue. Stores line both sides of The Promenade. Just south of the Saks court lies a 450-foot-long area where specialty shops and the center' third anchor store overlook picnic coves, trees and trellises.

The Park is a more casual setting where storefronts open to a wider, green, park-like area. At the center of The Park is the Fountain Court, which features a large, interactive fountain surrounded by trees and benches.

The center is scheduled to open September 18, 2003. The general contractor for the project is Smoot Construction of Columbus, Ohio. "We have a relatively short construction timetable," notes Kieras. "The typical regional mall for us might take 24 to 30 months depending on the site and amount of difficulty. The shorter construction time for this project is partly reflective of the fact that this is a smaller shopping center, and partly because it' open-air."

Stony Point was designed by Communication Arts of Boulder, Colorado. Hobbs & Black, an architecture firm based in Ann Arbor, Michigan, is creating the architectural drawings. The design of the open-air center was inspired by the area' rich architectural heritage. Storefronts in Stony Point Fashion Park feature design variations intended to create the impression that they were developed over a period of many years. "We1ve taken elements that are prevalent in Richmond and placed them subtly within the design, amenities and features of the center so that when local residents come to the center they' feel comfortable," says Kieras.

Taubman also sees Stony Point as a place where locals will bring out-of-town guests. "We want people to have a pleasurable experience at Stony Point -- relax and enjoy the atmosphere -- not just do their shopping and go home," Kieras says.

While Taubman plans to bring upscale stores to Stony Point, the center will not be exclusive to this type of retailer. "We think a combination of upper-end and more moderate retailers will attract shoppers from all over," says Kieras. "Through surveys, we found that many people looking for finer goods have to travel to Washington, D.C., or Norfolk, Virginia, in order to purchase the merchandise they desire."

Stony Point will have the only Saks Fifth Avenue store outside of the Washington, D.C., area in Virginia. Along with excellent positioning in the heart of Richmond, Taubman expects to attract people from well outside its primary trade area of about a 10-mile radius.

Many other retailers will enter the market through Stony Point. "Our typical goal is to have about 50 percent of tenants new to market," says Kieras. "This represents a business decision as well as a marketing decision because it gives us a point of distinction." Signing new merchants also gives Taubman an opportunity to work with tenants new to the company and form relationships that can be carried over to other centers that Taubman owns and manages. Another way the company makes its centers unique is through local merchants. Taubman carefully pursues local retailers that may be interested in relocating or locating a new store.

Taubman will announce tenants over the next 18 months. Currently, the company has either signed, committed or is under serious discussion with tenants for approximately 50 percent of the space, which is a very high percentage for Taubman this early in the construction process, according to Kieras.

Taubman leases its own projects. Right now, the leasing team is working on four centers that opened last year as well as Stony Point and The Mall at Millenia in Orlando, Florida, which will open in October. The leasing staff strives to create a merchandise mix that works best for the market.

One of Taubman' goals for Stony Point is that it will become part of its surrounding neighborhood and be an amenity for local residents, while attracting people from farther away with its unique stores and features. And based on past experience, Kieras believes it will be a success. "Our other fashion park in Phoenix, which is called Biltmore Fashion Park, has been extremely successful because of its location and ambience," he says. "Biltmore is smaller in scale than an enclosed regional mall located near it, and it offers department stores and fine restaurants. People like the outdoor atmosphere, size, ambience, stores and merchandise, and that is what we are trying to replicate at Stony Point."

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