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Saks Fifth Ave. says it's not moving to Kenwood

CINCINNATI (WKRC) -- Saks Fifth Avenue says it's not moving to "Kenwood Collection" even though a letter of intent was signed in November of 2013..
 
The announcement could say a lot about downtown Cincinnati. It's now filled with upscale condos and empty nesters like Mary Bunker. She says Cincinnati is a wonderful city and "to keep Saks here in the future would be good for Saks".
 
Realtor Doug Bolton from "Cassidy Turley", says downtown might make sense for Saks and keeping Saks in the region matters.  Bolton says "just for tourists you can say come to Cincinnati. It's the only one in the region in the Midwest except for maybe Chicago. That alone is a coup for Cincinnati".
 
Phillips Edison and Company, the developer of Kenwood Collection says the deal with Saks just didn't add up. Mayor John Cranley told us the city of Cincinnati didn't offer incentives for Saks to stay downtown. While he's not sure the store will stay, he's hopeful.
 
Bolton feels Saks wouldn't have played such hardball with Kenwood if Cincinnati weren't a good option for the next few years. He believes Saks likely wanted to see other premium retailers commit to Kenwood Collection before it would sign the deal.
 
Saks hasn't made a comment on the deal.  As for Kenwood Collection, a spokesperson told Local 12 you can expect the project to move forward with a mix of stores similar to Rookwood, but maybe more premium.

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VIDEO HERE
 

 

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