New jobs and growth are coming to the area - with an unusual twist. This financial commitment is a big result of an uncertain economy. Roses is opening not one, but two new stores in the next six months.
Roses plans to open a second store in Chesterfield. That's in addition to the one taking over The Showplace. The retailer says it's finding a niche in the community, catering to people on a budget.
The developer said the addition is a good move for the community, and for the shopping center.
Soon more cars will fill the lot, and doors will open for business as Roses gets ready to set up shop. Developer Bill Crenshaw says other business owners in the Chestertowne Square shopping center have been looking for a permanent tenant ever since the Winn Dixie left in 2008.
"They just say, 'Get something in here for us, get something in here for us.' Well we got something in here for us to support them," said Crenshaw.
Roses aims at opening stores in mostly urban areas that are easily accessible. Crenshaw has been in talks with the North Carolina-based company for months.
"We could have gotten greedy and grabbed the first thing, but we wanted to wait and get the right mix," Crenshaw added. "It's going to benefit the tenants. It's going to benefit the neighborhood. It's going to benefit the county."
The 40,000 square foot building is assessed at $2 million. Crenshaw says Roses signed a long term lease. Dr. David Urban, Associate Dean and Marketing Professor at VCU's School of Business, says this is a good indicator the economy is starting to pick up steam.
"Retailers are pretty conservative, generally speaking, when it comes to their expansion strategies, especially given all of the cutbacks in the recent economic downturn," said Dr. Urban.
Roses hasn't let the economy hold it back from opening 20 new stores last year. Roughly 20 more are in the works this year mostly in the southeast.
"The fact that roses is looking to expand and come into this area, really portends very well for the future of not just that area but the economy in general," Dr. Urban added.
The Roses in Chesterfield is scheduled to open this July, and the location in Henrico is set for August. Between the two stores, they'll bring roughly 80 new jobs to the area. The Virginia Beach store is set to open this May.
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