Saks Fifth Avenue to Anchor Ridge Hill

eHezi Archives 11 Comments

RATNER_Bruce New York, NY and Yonkers, NY — Forest City Ratner Companies
(FCRC), the New-York based subsidiary of Forest City Enterprises, Inc. [NYSE: FCEAand FCEB], yesterday announced that renowned fashion retailer Saks Fifth Avenue
has signed a letter of intent to anchor the  mixed-use development, Ridge Hill, which is
currently under construction. The center is located between the New York State
Thruway and Sprain Brook Parkway in Yonkers, NY. Ridge Hill will offer the only Saks
Fifth Avenue in the county.

At 80,000 square feet,
the store will be on two levels and offer a full complement of the finest
designer collections for men and women, as well as accessories, cosmetics and
gifts. Steve Sadove, chairman and chief executive officer of Saks Incorporated,
commented, "We are very excited about expanding Saks Fifth Avenue's presence
in metropolitan New York City. We have looked for the right opportunity in Westchester for some time, and Ridge Hill's sophisticated, upscale setting will be an ideal
location for our store. We look forward to delivering our unique selection of
luxury brands and experiences to this vibrant community."

"The addition of Saks Fifth
Avenue as an anchor store to Ridge Hill is a
tremendous step forward in creating a heightened shopping experience in Westchester County
," said Rich Pesin,
executive vice president of retail development, FCRC. "Saks is joined by
Whole Foods, which offers the highest quality natural and organic products.
These anchors set the standard for the exciting mix of national, upscale brands
planned for Ridge Hill."

Yonkers Mayor Phil Amicone chimed in, "As
we have said all along, Ridge Hill Village will be a tremendous economic engine for the City of Yonkers , providing tens of millions in tax money that we need
to provide good quality services and continue to improve our schools.  Even though we're
in a recession now, I know Ridge Hill Village will be successful because of marquee retailers like Saks Fifth Avenue that will make it a true destination for people all
over the metro area."

Ridge Hill will offer a spectrum of vibrant experiences,
making the center the high point of
sophistication in Westchester County N.Y.
This outdoor oasis of elegant shopping and gracious dining will infuse the area
with a refreshing element of retail distinction. Featuring approximately 1.2
million square feet of retail and entertainment space, Ridge Hill will bring
upscale tenants Banana Republic, L.L.Bean, Cinema De Lux, a multiplex cinema by
National Amusements, and dozens of other local and national retailers and
restaurants.

Designed to create an appealing pedestrian experience, Ridge
Hill will be a lively, engaging place to shop, stroll or dine. The center will
blend winding walkable streets with native landscaping, where sidewalks are
surrounded and shoppers are connected. An engaging village green, comfortable
outdoor furniture and a cozy firepit will create the ideal, park-like ambiance,
perfect for community concerts, evening events and children's entertainment.

Ridge Hill will also include approximately 156,000 square
feet of office and research facilities. The residential component will comprise
up to 1,000 apartments, of which 200 will be for over-55 active adults and 135
will be affordable units. For more information, visit www.ridgehill.com.

Founded in 1924 with the opening of its Fifth Avenue New
York City flagship store – which continues today as the Company's landmark
store – Saks Fifth Avenue is one of the world's preeminent specialty retailers.
Saks is renowned for its superlative American and international designer
apparel collections; its expertly edited assortment of handbags, shoes,
jewelry, cosmetics and gifts; and the first-rate fashion expertise and
exemplary client service of its associates. Today, Saks
Fifth Avenue operates 53 full-line stores in 25
states, 5 licensed stores in the Middle East and 1
licensed store in Mexico City, 52
Saks Fifth Avenue OFF 5TH stores, and saks.com,
the company's online store. Saks Fifth Avenue's
parent company, Saks Incorporated, is publicly traded on the NYSE under the
symbol SKS.

FCRC, a wholly owned subsidiary of Forest City Enterprises,
Inc., owns and operates 31 properties in the New York metropolitan area. Forest City Enterprises, Inc., is an $11.4 billion
NYSE-listed national real estate company. The Company is principally engaged in
the ownership, development, management and acquisition of commercial and
residential real estate and land throughout the United
States. For more information, visit www.forestcity.net .

eHeziSaks Fifth Avenue to Anchor Ridge Hill

Comments 11

  1. wow u ppl r just too fkn funny, how can u talk sht about something thats not even finished, instead of having high hopes that it flourishes n ppl can have a jobs.

  2. Scary part of Yonkers? How can you say that “yonkers resident”? It has not been fully developed yet. Costco and Stew Leonards is right up the road and it seems they are always busy..

  3. It’s not an Off-Fifth (outlet), it’s the real-deal – a Saks store.
    Who is really going to go out of their way to shop at any of the store they put there? What a dump! That is seriously a scary part of Yonkers that I would not venture to … saks or no saks!

  4. Let’s just give the whole damn place away and turn it into one big shopping mall.
    Oh….what’s that you say?
    We already did?
    City of Vision my ass.
    How about this for a Yonkers Ad campaign:
    “City of Greedy Corrupted Mega Maniacal Politicians”
    Who need quality of life awards by other corrupted politicians who have no basis in reality to prove us right– because the taxpayers are just too stupid to understand all of these complex situations.
    How do we do it?
    We team up directly with developers, eliminate the middleman and pass the screwing directly on to you…the taxpayer…and line our pockets….while we bring you minimum wage jobs and higher taxes!
    That’s how!”
    This is Truly One corrupted sh@t government who could not care less about the citizens of they even bothered to try.
    And that includes the council.

  5. Who needs Whole Foods when Fairway is opening in Pelham. They kick Stew Leonards rear (except for wine and the free samples!)
    Saks outlet is no great thing. The one at Woodbury Commons is expensive most of the time and its market is very narrow.
    But Edelman makes an interesting point. Outlet malls are usually far from population centers primarily because the land was less expensive hence lower rents so the outlet stores can come and make a profit.
    Since the Mayor practically gave this land away to ratner, this location is the PERFECT outlet center.
    Think of how busy Woodbury Commons gets, all the way in Orange County. Duplicate it in Yonkers, on the Thruway, imagine the possibilites..and the sales tax revenues….

  6. I had heard that Whole Foods pulled out. Further, Saks Fifth Avenue closed their White Plains store several years ago, replaced by the just now closing Fortunoff. If Saks couldn’t make it in White Plains in a much better economic climate, do you really think they have a chance in Yonkers?

  7. I’m sorry, but this story is hysterical. Who thinks of these intellectually insulting chestnuts:
    Ridge Hill’s sophisticated, upscale setting
    a spectrum of vibrant experiences
    the high point of sophistication in Westchester County
    This outdoor oasis of elegant shopping and gracious dining
    infuse the area with a refreshing element of retail distinction.
    blend winding walkable streets with native landscaping
    where sidewalks are surrounded and shoppers are connected.
    cozy firepit will create the ideal, park-like ambiance
    I am sure that the +/- 250 low income people who will be dumped here and trapped in a geographically isolated development with limited public transportation will wile away their evenings roasting marshmellows in the firepit surrounded by native plantings.
    Does Whole Foods take food stamps?

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