Poised for growth: Prairie Lakes developers still dreaming big in Sun Prairie
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“We’re seeing a lot more activity than we have previously,” said Fedler. “I don’t think it will ever be the same level of activity or growth that we saw in ’05, ’06, ’07, however if it can maintain like this, I would say we’re looking at four to six years [before completion], and maybe it will happen. It just depends. If we can get another great anchor and the movie theater builds, wow, that all of a sudden changes the Shoppes at Prairie Lakes really quickly.”
Fedler says that interest in the development has picked up in particular in the last half-year, coinciding with a slate of economic indicators that show real estate may have finally bottomed out.
“We’ve seen a lot of improvement really in the last six months as far as level of interest in people looking to do deals,” said Fedler. “I think that’s going to continue simply because I believe there’s so much money that’s been parked over the years and not allocated or not deployed because people are waiting to see what’s going to happen, and who knows what’s going to happen and when? However, I think you have a time now where they’re not going to wait anymore, where they’re saying, ‘We have some capital and we need to deploy it. Otherwise it’s going to sit in the bank at a quarter percent, so let’s do some things.’”
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