You may not know what H&M stands for but soon you'll know what it offers. The Swedish international clothing retailer giant announced Thursday it's opening a 2-story store in South Anchorage at the Dimond Center.
C.E.O. of the Dimond Center, Hugh Ashlock, says this is part of a multi-year, multi-step expansion plan for the mall.
"South Anchorage is where most of the population is," said Ashlock. "We have free parking we're convenient and so we're updating our merchandising."
Ashlock says the remodel of Forever 21 at the opposite end of the Dimond Center made space for numerous new stores. However, it wouldn't go on the record with any names.
"Until the ink is signed on the lease the tenants do their press release," said Ashlock.
The same tight-lipped protocol is being exercised at the Outlets of South Anchorage. JL Real Estate and Property Managment has signage posted on the lot across the street from Cabela's and Target but will not say what retailers are discussing moving in or when ground will break on construction.
Construction is well underway at a new Texas Roadhouse in South Anchorage just off the Old Seward Highway. Crews working at the site expect to be complete by October with the restaurant opening soon after.
Ashlock says the many new investors are a testament that Alaska is a good place for new business.
"Alaska has a high disposable income, plus the PFD check," said Ashlock. He says long cold winters also contribute to great sales numbers.
"Frankly Cabin fever works very well for us," said Ashlock. "People want to get out of their homes in the winter time. They want to come to some place that's friendly, that's warm, that has some entertainment and good food. People want experience."
Shoppers will be able to experience the 31,000 Sq. Ft. H&M come next summer. It will include women's, men's and children's clothing.
None of current tenants displaced by the construction will close, instead they're moving to different parts of the Dimond Center.