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Palladio bustles along

Rumors of a stalled project are untrue
By: Brad Smith Telegraph Correspondent
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Reports of the demise of Folsom’s newest shopping center are greatly exaggerated, according to officials with Palladio at Broadstone. The shopping center is located between Broadstone Parkway, East Bidwell Street and Iron Point Road. The project is on schedule, says Brian Spickard, vice president and chief operating officer of Elliott Homes. Rumors around the region indicate no workers have been seen on the site in weeks and is something Spickard wants to dispel. Ed Sweeney, construction manager, said they usually have about 200 workers on any given day at the site. “There were days I had people telling me I had no one working out here when I had 25 guys in (one) building alone,” Sweeney said. “Over $2 million per month is being spent trying to get this done.” The total estimated cost of the project is $250 million, according to Spickard. “They just aren’t seeing workers because (construction) is on the backside,” Spickard said. “Phase one is (one) block.” That block will sport restaurants, a 16-screen movie theater and retail space. The theater will be the first business opening around Dec. 1. The 700,000-square-foot mixed-use center is located on Broadstone Parkway. Spickard said in a media release “although the poor economy has significantly impacted the retail and restaurant markets, Palladio will be completed and opened over a 24-month schedule. Folsom, unlike many area markets, continues to thrive during this downturn and barring an unforeseen further collapse of the U.S. financial or retail market … Palladio will become the promised crown jewel of the region.” Due to contractual agreements, Spickard said he couldn’t comment on the other businesses that want to make the Palladio their home. Spickard is focused on the Palladio’s future. “Unlike other projects that have been stopped or worse failed, Palladio will successfully open over the next 24 months,” Spickard said. The center will feature unique architecture, public art, tile imported from Italy, a piazza for community gatherings and will be pedestrian friendly. “The corner of almost every building is different in architectural style,” Sweeney said. “As you walk around, you won’t see the same thing twice.” Sweeney, a construction veteran, said this is a project in which he takes pride. “I’ve been constructing things for over 40 years and I’ve never worked on anything like this,” Sweeney said. The front of the movie theater will have a red-glass and concrete walkway, reminiscent of a red carpet, Sweeney said. Last spring, it was rumored and erroneously reported by some media outlets that the Palladio was going bankrupt. Spickard dispelled those rumors. He said that while businesses such as Circuit City, Mervyn’s, Gottschalk’s and others are going out of business, he had no concerns about the Palladio and the businesses going into it. “While everyone is acutely aware of the recent meltdown of the retail and restaurant businesses across the U.S and particularly California, there are the successful ones who will survive, expand and thrive,” he said. According to Spickard, Elliott Homes is the Palladio’s sole owner, developer, builder and manager. The Telegraph’s Don Chaddock contributed to this story. --- Palladio at Broadstone Fast Facts • Sits on 55 acres • 700,000 square feet of space • 20 buildings • Six more buildings planned • Two multi-story parking garages • Phase one is the movie theater • Project total cost: $250 million