Koury's Village signs ritzy retailers
   

GREENSBORO -- A large shoe store, a Mexican restaurant, fast food and three office tenants plan to become Village people in the coming months.

Construction and leasing are moving at a quick clip near Pisgah Church Road and North Elm Street.

That's the home of The Village at North Elm, which upon completion will contain 120,000 square feet of retail and office space, plus 190 apartments.

Three months ago, the Koury Corp. announced the first 10 tenants for the mixed-use project. Since then, The Village Shoe and Barberito's Southwestern Grill & Cantina have joined the list.

The shoe store will focus on high-end labels such as Kate Spade, Stuart Weitzman and Bruno Magli, plus comfort brands such as Mephisto -- at prices from $100 to $1,000.

It also will carry designer handbags, priced up to $3,000.

"It will be Greensboro's finest shoe store, I believe," said Ron Mack, Koury's executive vice president for retail.

Last week, Koury leased about 5,000 square feet of freestanding space at The Village to Chick-fil-A. Fast food might seem a strange choice for a community geared toward local -- and pricey -- shopping.

But Mack said The Village aims to collect the standouts in shopping and eating categories. And Koury saw the chicken chain as the best of its class.

This message to top-notch business certainly has seduced niche retailers from other parts of Greensboro. Last fall, the Marshall Art Gallery ditched downtown and Indigo Bead Studio left West Friendly Avenue for The Village.

"We're getting walk-in traffic that we never got before, and we're really excited about the new shops," said Tracey Marshall, co-owner of the gallery, which will host a grand opening March 2.

Office tenants are following suit, leaving longtime locations to take residence in second-story space in Koury's four buildings near Pisgah Church.

Both American Home Mortgage and John McCracken & Associates, a real estate appraisal and consulting firm, are planning such moves.

Mack envisions workers from Allen Tate Realtors and Solutions 4 Hiring, a recruiting operation, heading to lunch at the neighboring Panera Bread or The Chop House Grille.

"That's going to create a street-level buzz that a shopping center just can't create," Mack said.

And that's one reason he's not too worried about competition from other area shopping centers, such as the large Friendly Center project.

"I think Greensboro can support both," he said.

Marshall said being surrounded by upscale retail has boosted her business.

"It's nice having neighbors that have the same goals as you do," she said.

Mack expects most new tenants to open by late April or early May. The Village Shoe won't open until late July. And The Chop House Grille, which opened last fall, might expand.

Construction on the remaining retail space, which will be topped by two levels of apartments, should finish by early August.

Koury is considering businesses including a spa, and apparel, maternity and stationery stores for its unfilled retail.

The first apartments, which likely will range from $850 to $1,500 a month, should become available in early fall. The construction schedule for four more residential buildings will depend on how much interest Koury's first offerings generate, Mack said.

Koury is working on several other area projects and recently leased 10,000 square feet of space on Vanstory Street near Four Seasons Town Centre to Guitar Center, a major music retailer with stores in Charlotte and Raleigh.