Best Buy: Next on council’s list?
February 25, 2003
Developers First Rockford Group continue to look toward DeKalb’s retail future and hope to bring additional national retailers to the area.
Next on the list could be Best Buy. The group’s director of retail development, Pankaj Mahajan, said the organization has been in discussion with the retailer for almost two years.
The group recently convinced DeKalb County and the city of DeKalb to share the cost of a $1.5 million tax-sharing incentives package to bring a Kohl’s and a shopping center to DeKalb, but Mahajan said the group is looking at options other than subsidies to lure additional stores, such as Best Buy, to town.
“If I have to stand in front of elected officials to bring a proposal, I want to make sure every avenue for funding is explored first,” Mahajan said.
Mahajan added the city of DeKalb has a good idea of what it wants and how to get there. Even though some claim the community drags its feet when it comes to bringing in stores, Mahajan said he doesn’t think that is the case.
“DeKalb has a better understanding of the retail business than many of the other communities I’ve worked in,” he said.
Still, Mayor Greg Sparrow has said the city is unlikely to offer incentives such as subsidies to bring yet another retail store to the area.
“We felt we had to prime the pump by offering incentives to several retail stores early on, but now I feel as though the pump has been primed,” he said.
Sparrow said he would like to see the council change track and pursue types of development other than just retail.
“Right now, we want to focus on bringing an industrial base in,” Sparrow said. “We have enough of a population base that if retailers want to come, they should be able to do so without more help from us.”
First Rockford Group plans to put a shopping center and Kohl’s on a 21-acre parcel of land south of Lowe’s near Market Square Cinemas, 2160 Sycamore Road. Best Buy could be an option to help fill out the shopping center, Mahajan said.
However, no guarantees can be made, even with the approval by the city and county to construct a shopping center and a Kohl’s store.
“Nothing is done until it’s done,” Mahajan said. “Everything’s on paper, but nothing is guaranteed to happen until you see a grand opening.”