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Heard on the Street: Local toy shop plans to close its doors

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Peg Arnold passes the colored pencils to Nicki Novotne during Grown Up Coloring Night at A Child's Kingdom. Arnold has decided to close the business sometime in January.

No matter how fun it was to play with them, eventually you have to put your toys away.

After more than four years running an independent toy shop in northwest Rochester, Peg Arnoldplans to close A Child's Kingdomat 621 N. Broadway in the River Center Plazashopping center.

A Going Out of Business sale began on Tuesday. Arnold expects to officially close the The 2,000-square-foot store some time in January.

"It was a tough decision. I'm not going to lie," she said Wednesday. "I'm going to miss the kids more than anything."

New opportunities in 2017 spurred Peg and her husband, Wally Arnold, to close the store.

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"We've had a good run. It went really well and was fun. It's just time to move on," she said. "We're retiring from the toy business."

The shop carries a variety of toy lines including American Girl, Erector sets, Groovy Girls, games, dress-up costumes and other "classic" toys. The Arnolds have one part-time employee.

Biz buzz

The word is that an announcement about the financing for Rochester's long-delayed $145 million Broadway at Centerproject could be coming soon.

Rochester developer Gus Chafouliashas plans to build a 23-story building featuring a hotel, apartments and commercial space on the southeast corner of Broadway Avenue and Center Street.

Broadway at Center first was announced in March 2014 and lately has been awaiting a $105 million loan from Minneapolis-based Dougherty Funding LLCto help finance the project. That loan stalled in June, when a Saudi Arabian investment group failed "to fulfill its obligations."

Now, the word is Broadway at Center may end 2016 on a high note with good news about the financing and the future of the project.

Insiders say an announcement is expected "sometime in mid-December."

Related Topics: FINANCE
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