theDesMoinesPerspective

General Growth Stock Price PlummetsReal estate investment giant General Growth stock plummeted to around $0.35 per share this morning on news that the company may declare bankruptcy. General Growth developed and owns the Jordan Creek Town Center "retail resort" in West Des Moines.

Over the next few years, almost $4 billion in debt from recent property acquisition comes due, but current income from their real estate holdings doesn't cover the payments. General Growth acquired Rouse Company in 2004 for $7.2 billion, mostly financed through short-term debt instruments. Defaulting on one debt would likely cause other creditors to call their loans due, precipitating a catastrophic avalanche of defaults.

General Growth officials blame the "credit crunch" for the company's current financial woes. That is, they cannot find people to loan them money to cover their existing loans. Now that there is blood in the water, it becomes even more unlikely that anyone will loan them money - a self-fulfilling prophesy.

Storefront Decoration at University Ave. Radio Shack (circa 2005) - Photo by Polk County Assessor's OfficeWith few exceptions, blank walls ruin the pedestrian experience. Blank walls make it difficult to discern what is happening inside the adjacent buildings, decrease the number of "eyes on the street", and promote an automobile-centric environment.

The Radio Shack at University and 42nd Street is an excellent example of how the location of the main entrance can have a huge impact on the urban character of a building.

The structure itself, is actually relatively urban. It is built up to a generous sidewalk, with the parking located in back. There is a small path between buildings that allows shoppers to easily make their way from their cars to the stores in the adjacent building. It maintains a good street edge and lines up with the adjacent building.

There is just one problem, but it's a killer: the main (only) public entry to the Radio Shack store is on the back corner of the building!