WMC to delay Building D groundbreaking
Officials cite economic conditions
Larry Thomas -- Furniture Today -- Home Accents Today, 7/22/2008 7:55:00 AM
World Market Center officials have delayed the groundbreaking of Building D, the site’s fourth showroom building, until at least early next year because of the current economic downturn.
Bob Maricich, president and CEO, stressed that the size and scope of the 17-story, 1.1 million-sq.-ft. structure has not changed. However, WMC officials felt it was best to delay the start of construction, which was originally set to begin this fall.
“In light of the current economic situation, we felt it judicious to hold off until we can see some positive economic improvement,” Maricich said. “We are ready to go once we see signs that the furnishings economic environment is improving.”
He said a decision on when to begin construction will be made at the end of this year. “It’s not a decision as to whether to do it; the decision is when we want to start,” he added. “We are still fully committed to our original campus plan.”
Long-range plans call for eight showroom buildings totaling about 12 million square feet of exhibit space. The three existing buildings have about 5 million square feet.
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