Trammell Crow tapped for Daytona Beach redevelopment
By a unanimous vote of The City of Daytona Beach, Fla., Dallas-based Trammell Crow Co. has been named exclusive developer of a 19.2-acre beach/boardwalk redevelopment for the Daytona Beach Main Street and pier area. Current plans for the mixed-use, multi-phase project include an estimated investment of more than $350 million with development of the major components spanning over three years. Los Angeles-based Carlsberg Management Co.; The Boyd Group, Orlando, Fla.; and the Boardwalk Merchants Association also are involved in the project.
The six-block area of redevelopment will include approximately 200,000 sq. ft. of retail/restaurant components, a 200-room full-service hotel and a 200-room limited-service hotel. There are 150 time-share units planned for the Resort Complex, which will include features such as waterfalls, pools, botanical garden walking paths with historic beach views and boardwalk access.
A critical element for Daytona Beach's support is the community's ownership and access to the beach, which was incorporated with the beach plaza and amphitheater that will be located adjacent to the redesigned and redeveloped pier. The new pier designs are reminiscent of Santa Monica Pier in California.
The Scott Partnerhip, Orlando, Fla., and Houston-based Morris Architecture will be responsible for the design in the project.
Dallas' Galleria welcomes Gap, Banana Republic and Old Navy
Galleria in Dallas and San Francisco-based Gap Inc. have plans to convert a multi-level department store space into three distinct stores: Gap, Banana Republic and Old Navy, providing a new anchor on Galleria's south end. The location of the new stores is the former home of Saks Fifth Avenue, which moved to a larger Galleria venue in 1999. The stores are scheduled to open in March 2002.
Each brand will occupy one floor of the three-story building, which totals 127,639 sq. ft., and maintain separate entrances. Galleria Level One will house Banana Republic; Galleria Level Two will be home to Gap, GapKids, babyGap and GapBody; and Old Navy will occupy Galleria Level Three.
Houston-based Hines, the owner and developer of Galleria, has planned a renovation of the center's south end to accommodate the new tenants. Seattle-based Callison Architecture Inc. has created an expansion of the existing space to maximize visibility inside and out. A new three-story glass atrium will contain vertical transportation to each level. Additionally, Galleria will make improvements in the adjacent LBJ Parking Garage, which will allow customers to use a speed ramp and immediately access upper levels of parking with a new sky bridge that is being added to the top level.
The shopping center portion of Galleria, Dallas' largest mixed-use complex, totals 1.8 million sq. ft.
Ground broken for retail power center in suburban Cleveland
Providence, R.I.-based Starwood Wasserman LLC has broken ground on a four-level, 611,500 sq. ft. vertical retail power center located at the corner of Cedar and Warrensville Center roads in the Cleveland suburb of University Heights, Ohio. The new center will be part of the redevelopment of the portion of the Cedar-Center shopping area, known as Kaufmann on the Heights, which includes the construction of a public parking garage on the 12-acre site.
The new center will include a 165,000 sq. ft. nationally recognized general merchandise retailer; a 58,000 sq. ft. Tops Supermarket; a new two-story, 165,000 sq. ft. Kaufmann's department store; and other locally, regionally and nationally recognized retailers and restaurants.
Construction of the new Kaufmann's store already has begun. The existing, freestanding Kaufmann's store will remain open during the construction of the new store, which is scheduled to open in March 2002.
The second phase of construction will begin with the demolition of the old Kaufmann's store and the construction of the parking garage and building that will house other retailers. The entire retail complex is slated for completion in Spring 2003.
CBL fills three anchor vacancies with new department stores
Chattanooga, Tenn.-based CBL & Associates Properties Inc. will replace anchors in three of its malls with new department stores.
In spring 2002, Belk will open a 73,000 sq. ft. department store in the soon-to-be-vacant Wal-Mart located at College Square Mall in Morristown, Tenn., where it will join JCPenney, Proffitt's, Sears and Goody's. College Square Mall has a total of 459,473 sq. ft. of space.
Foley's, a division of The May Department Stores Co., St. Louis, Mo., will occupy a 164,271 sq. ft. space held by prior anchor Montgomery Ward, at the Parkdale Mall in Beaumont, Texas. Scheduled to open in 2002, Foley's will join two Dillard's stores, JCPenney and Sears in the 1.4 million sq. ft. mall.
In fall 2002, a 62,000 sq. ft. Dillard's will open in the former Roses location at Randolph Mall in Asheboro, N.C. Other anchors in the 376,214 sq. ft. mall include Belk, JCPenney and Sears.
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