Can the Plaza become a successful high-end shopping mall? Sure, it may not be the best economic climate to launch such an ambitious task?and there's already the Time Warner Center to satisfy mallrat cravings?but the Plaza has the name brand and the Fifth Avenue location. Part of the $400 million building renovation, the Plaza Retail Collection is 160,000 square feet of tres chic shopping space featuring leather goods, fine art photography and other items we'd be disappointed to get on Christmas. Eight boutiques have already opened on the underground concourse level, a dozen more will open within the next two weeks, and a total of 35 shops are planned. The space being used for the boutiques was formerly "unglamorous utility, kitchen and laundry spaces" according to the Post. Plaza developer Elad Properties is hoping that foot traffic will make up the bulk of the clientele, rather then relying on Plaza guests and residents. If that doesn't work, maybe they can jog business by paying any future lawsuit settlements in gift certificates?
· Shopping Plaza [NYP]