Developer 'blown away' by interest in The Ridge

Signing Phase II Ridge Marketplace agreements, from left, Rochester City Manager Daniel Fitzpatrick, Mayor T.J. Jean, Josh Levy of Waterstone Retail and City Economic Development Director Karen Pollard. (The Lebanon Voice photo)

ROCHESTER - The Northern Seacoast's insatiable thirst for quality entertainment venues is the single most striking phenomenon becoming apparent as The Ridge Marketplace hurtles toward completion in April, according, to Waterstone Retail founding principal Josh Levy.

Levy, on hand to sign the Phase II agreement creating an addition TIF area with the city of Rochester on Thursday, said the additional 195,000 square feet of space created will be targeted specifically to entertainment as well as restaurant and additional retail tenants.

"Entertainment is definitely the top thirst for adults," Levy said. "After that it's restaurants and sporting goods and outdoor lifestyle."

With the original 300,000 square foot of retail and restaurant space already committed, the total square footage for the shopping complex now numbers about a half million.

Levy said all of the storefronts will face a street for easy access, and retailers could open as early as March although the grand opening is set for the second half of April.

He said the interest, demand and pace of development at The Ridge is unprecedented within his company.

"We are very pleasantly surprised by the demand here," he said. "It's more than any other project. We were blown away by the amount of phone calls and emails of people, vendors, wanting to see the space."

He said he expects some 25-30 retail outlets, including some five or so restaurants and the cinema complex.

He added both regional and national retailers are expressing interest in joining The Ridge, and he's looking to get a good "synergy" of franchises.

So far tenants committed to the project are Market Basket, Hobby Lobby, Marshalls, Petco and the newest addition, Famous Footwear, which will occupy about 5,300 square feet, itself.

Levy said the construction is moving forward quickly with builders trying to button up structures this fall so they can work inside through the winter months.

The Ridge is expected to add 800-plus jobs and invest $40 million in facilities over the next three years.