Department Stores

Nordstrom Withdraws from CityNorth

Retail development in Phoenix met with ongoing delays

Published

15 years ago

May 11, 2009

VMSD Staff

Nordstrom announced it is pulling out of Phoenix’s CityNorth project. The Seattle-based luxury department store chain was expected to an anchor tenant for the retail development’s second phase. According to The Arizona Republic, Nordstrom spokeswoman Julee Kraus says the development failed to meet milestone dates, but she declined to elaborate.

Najla Kayyem, vice president of marketing for Related Urban Development, one of CityNorth's two developers, said the decision was based on deadlines to begin work on the project's second phase. “We are disappointed that this has not moved forward, but we don't control the capital and financial markets,” she told The Arizona Republic.

CityNorth’s Phase One opened last November and Phase Two was originally scheduled to debut in November 2009, but was pushed back a year when the economy hit rough times. The project has been on hold as developers continued to seek financing.

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