Future of Sycamore Von Maur unknown

CORALVILLE - In an estimated 18 months, Iowa River Landing gets a Main Street anchor with the opening of a Von Maur store. Will Coralville's gain be Sycamore Mall's loss?

The longtime mall in southeast Iowa City is the upscale department store's current home at the south end of the Corridor. Calls to Von Maur about the future of the mall store were not returned, and mall Manager Kevin Digmann said he wasn't aware of Von Maur's Iowa River Landing plans.

He did confirm that “there is a lease in place.”

Sycamore Mall received a seven-year tax-increment financing package in 2004 to help attract Panera Bread, renovate its movie theaters and put the retail center on sounder financial footing. Jeff Davidson, director of planning and community development in Iowa City, said the mall has taken steps to retain Von Maur as an anchor.

“The private developer of Sycamore Mall offered Von Maur a very, very favorable proposal to try and get them to remain at Sycamore Mall,” Davidson said. “They have been quite aggressive in trying to keep them there, but Coralville also has been very aggressive in working to attract Von Maur, believing it will be part of the success of Iowa River Landing.

“We are hopeful that Von Maur might keep the Sycamore Mall location open, but I think realistically that is doubtful. We want to keep Sycamore Mall as viable as we can, and we feel that Von Maur is part of that.”

Davidson added, however, that he doesn't believe Sycamore Mall will “sink or swim” depending on whether Von Maur stays.

If recent history is any guide, the future of the Von Maur store at Sycamore Mall could be in doubt. When Coral Ridge Mall opened in 1998, JCPenney relocated from Old Capitol Town Center in downtown Iowa City and Sears closed its store in Sycamore Mall.

Von Maur, which operates 25 stores in 10 states, closed its location in Cedar Rapids' Westdale Mall at the end of January 2007. It was one of the mall's original anchors when it opened in 1979.

The  Davenport-based department store chain also operates stores at Lindale Mall in Cedar Rapids and College Square Mall in Cedar Falls.

The signing of Von Maur should help the 180-acre Iowa River Landing - an open-air, mixed-use development at the intersection of Interstate 80 and First Avenue - attract additional retail and office tenants. The 80,000-square-foot Von Maur store is expected to open in about 18 months.

Coralville officials and San Diego-based developer OliverMcMillan have scheduled a news conference for 9 a.m.

Thursday to formally announce the signing of Von Maur and other updates. The latter include a 100-room Homewood Suites hotel and Backpocket Brewing microbrewery.

Construction is progressing on a 150,000-square-foot University of Iowa Medical Clinic near the entrance to Iowa River Landing as well.