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Article: Home Depot could drop Harlem lease; Frail economy drives other chains to pull plug on growth plans, too; some soldier on.(News)
- Article from:
- Crain's New York Business
- Article date:
- March 31, 2008
CopyrightCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Elisabeth Butler Cordova
The home depot inc. may walk away from long-standing plans to open a 100,000-square-foot store at East River Plaza, a major new development from Forest City Ratner Cos. and Blumenfeld Development Group.
Last week, Atlanta-based Home Depot acknowledged that it is reconsidering its lease in the 500,000-square-foot development, located on six acres adjacent to Franklin D. Roosevelt Drive.
"We are re-evaluating this site to determine if it still makes sense for our business,'' a Home Depot spokeswoman says.
The home-improvement chain has been promising for 10 years to open a store at the former Washburn Wire ...