Granger developments surviving despite the economy

by Megan Baldino (mbaldino@wsbt.com)

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Toscana Park

(WSBT file photo)

By WSBT News1

GRANGER &mdash: Developers in Granger say despite the tough economy they are showing signs of growth. Toscana Park and Heritage Square say business is good and getting better.

Jerry Macri says even though many of his stores are empty, tenants will be moving in soon.

"Some of those units that look vacant are sold and as a matter of fact some of them are working on opening up soon," said Macri.

Macri says by the end of the month he's hoping to have every unit sold or rented except three and he's even looking to expand.

"What I need is expansion. That's my problem right now and I feel it's a good problem."

If the economy is affecting Macri in any way, he says it's been the challenge to get more lending.

"A lot of banks have slowed down lending and mine is the reverse. I need more lending because I have tenants that want to come out here."

Elizabeth Larocco is one of Macri's tenants. Her baby boutique "Hugs From Heaven" opens in November. Larocco says despite the economy she is moving forward with her plans.

"I did get a little nervous with the economy taking a little crash, but we want to be that bright spot in everyone's downtime."

Heritage Square also says more development is on the way. Friday it announced a Mike's Car Wash and Old National Bank will be opening this spring. It also says 2 new restaurants will open during the fourth quarter — Molly Brannigans Irish Pub and Soho Japanese Bistro.

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