Joe Waters, President of Waters Retail Group, reflects on the success of The Shoppes at Belmont on the 5-year anniversary of its’ Grand Opening.
Lancaster, PA (Lancaster County, PA) – September 25, 2023 – Last week marked the 5-year anniversary of the Grand Opening celebration and ribbon cutting for The Shoppes at Belmont in Lancaster, PA. The Shoppes at Belmont, a 365,000 square foot shopping center, is part of a mixed-use project which also includes townhouses, single-family houses and apartments. The Shoppes at Belmont was developed by Manbel Devco I, Limited Partnership and is leased and managed by Waters Retail Group. I spoke with Joe Waters, President of Waters Retail Group, as he reflected on the past 5 years of The Shoppes at Belmont being fully operational, as well as the years of work that were put in beforehand to get there.
Reflecting on the past 5 years and the many years of work prior to the grand opening, how have things been going?
Overall, the Shoppes at Belmont has had a very successful 5 years in operation. The Center is 100% leased and occupied, and feedback from the tenants and community has been very positive. When we started work on the Shoppes at Belmont, we knew it was going to take a long time. We didn’t imagine it would take 9 years [laughs] but we knew it was a long-term project given the complexities and the scale of the Project. It’s the best retail location in Lancaster County and it was a risk worth taking. Several tenants delayed a long time to get into the Lancaster market, specifically waiting for this location. And I would say, given their feedback from the last five years, it was a smart choice.
The motto of Belmont is “Shop. Dine. Live.” With 28 shops and restaurants in the Center, there really is something for everyone, from groceries and restaurants to soft goods, apparel, fitness and various wellness and personal services. The single family and townhomes all sold within the first year of opening, while the construction of the apartments in the last year has added another welcomed dynamic to the community.
What have been the greatest highlights of this journey so far? What has been challenging?
The sheer scale and magnitude of this Project was impressive. From an engineering perspective, it was quite a feat. It’s a 40-acre site with a 3-acre quarry. We had to fill part of the quarry in where a portion of the current Michael’s building is. We encountered quite a bit of rock on the site. There were existing wetlands that we preserved and improved, significant stormwater management to contend with, historic preservation, retaining walls, and many other moving parts. Not to mention the various tenant leases to contend with. With the exception of the apartments, everything was constructed at the same time, which brought its own challenges given the size. We finished construction in record time, closed on the construction loan and ultimately the permanent loan, just pulling it all together- facing all the challenges and succeeding is the biggest highlight. We were very lucky to have such a great team of consultants and contractors to get us over the finish line.
As a mixed-used development with residential as well as retail and restaurant spaces, The Shoppes at Belmont can be considered a community space. What are your thoughts on Belmont being more than just a shopping center but a place for community gathering?
We really wanted Belmont to have a shared community space. We included an outdoor stage where we have live music in the summers, a covered bus stop, lots of outdoor seating. I don’t even know how many miles of sidewalks and walking trails there are in and around Belmont. We showcase the beauty of the quarry- the before and after is an amazing transformation- the historic lime kilns, the overlook. We spent a lot of time and effort on that aspect. We wanted to include and preserve the outdoor elements of the area, and I think that makes it a little bit unique compared to your typical retail shopping center.
We also have the Summer Music Series, which is a live music event every Saturday night in the summer months which features a variety of local bands. It’s been a great opportunity for artists and musicians to showcase their talent, while it’s an opportunity for the community to get together and enjoy some live music.
What are your goals for the future of the shoppes at Belmont?
We spent nine years entitling the Property and another year and a half constructing it. While many developers would be moving on to the next project and focus, we pride ourselves on staying with the Project for the long term and continuing to focus on making sure the property is cared for and maintained with the highest quality and attention to detail. We see this as a community partnership that is going to live on for a long time. Our goal is to continue to maintain the property with the same focus and attention to detail we provide for all our clients and all properties in our portfolio.
