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Plymouth draws retailers, as it once did settlers
In just a little more than three years, Plymouth has added 2 million square feet of retail development, most of it in two new shopping districts just north and south of the town center. The retail surge - dramatic even by today's fast-growth standards - can be traced to one crucial demographic: more residents. A lot more. "You're seeing all this economic growth because the population continues to grow," said Denis Hanks, Plymouth Area Chamber of Commerce executive director and also the town's economic development director. Adds Town Clerk Larry Pizer: "You used to be able to say, 'Plymouth is the largest town without a' - fill in the blank." A Starbucks, for example? "Now we have two." The new shopping districts have been built around two Route 3 highway exits - Exit 5 and Exit 7 - that had only modest commercial development at the start of the decade. Meanwhile, Exit 6, which leads to the town center's old commercial district, has become "the forgotten part of town," says attorney Ed Angley, who represents Viking Development. The Exit 5 corridor was opened by lane expansions, new traffic signals, and other infrastructure improvements to Long Pond Road, paving the way for construction of the Home Depot shopping center seven years ago. In its wake, a 500,000-square-foot shopping center called The Shops at Five opened across Long Pond Road three years ago, the Home Depot shopping center expanded, and a Hilton hotel with another suite of stores moved in next door. Meanwhile, just north of historic Plymouth Center, Colony Place opened a little more than a year ago off Exit 7 and Route 44. Anchored by a Wal-Mart Supercenter and Sam's Club, the retail development is set to cover 1 million square feet and hold 5,000 parking spaces. Its "lifestyle center" component, called The Village, opened last fall, with high-end shops and cobblestone walks. And the surge is not over - as evidenced by the purchase last month by Viking Development of the former MPG Newspapers building, once home to a local newspaper chain. Viking, which built Home Depot, plans to knock down the building, put up a new building for a pharmacy and medical offices, and connect it to the expanded Home Depot shopping center. With a population of 58,000 - up from 51,071 in 2000 - Plymouth continues its growth as an epicenter of a rapidly growing region. From its site at the intersection of north-south and east-west highways, Colony Place counted a market of 450,000 potential customers within a 20-mile radius. Another favorable demographic is household income. Within 20 miles of the Exit 7 shopping center the median household income is $67,000 a year; within 10 miles it's $70,000. http://www.boston.com/news/local/articles/2008/01/27/ |
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