Marietta, Georgia: Atlantic Residential is redeveloping the long-vacant Sprayberry Crossing Shopping Center in suburban Atlanta into East Cobb Walk, a mixed-use complex with 132 seniors housing rental apartments, 102 seniors for-sale townhomes and 30,000 square feet of commercial and retail space. The first renters are expected to move in by 2023, and construction on the for-sale townhomes is expected to start next year. East Cobb Walk will surround a historical private cemetery. Lidl recently canceled plans to open a supermarket on the site because of access issues.
Richfield, Minnesota: Brixmor plans a major overhaul of the nearly 70-year-old Hub shopping center in suburban Minneapolis that would add apartments and a new grocery tenant. The 1954 center’s Rainbow grocer shuttered in 2018, and now, Marshalls anchors the property. Plans are for 10 buildings — eight freestanding commercial buildings and two multifamily buildings with 450 units — surrounding a parking lot. Brixmor will co-develop the residential units with a partner and hopes to complete the redevelopment within four years if local officials approve the plans.
Raleigh, North Carolina: A 225-acre site in the suburb of Garner is slated to become a mixed-use destination called E District. Wycliff Development will serve as the master developer, working with the Yeargan family, which owns the land. “This is a rare opportunity to develop one of the last remaining sites of its size and significance in one of the hottest real estate markets in the country,” said Wycliff founder Grady Matthews. “We have begun conversations with the town of Garner and are committed to bringing a high-quality, mixed-use district to the region that celebrates wellness, innovation and connection.” Matthews said the property will link Eastern North Carolina and the Research Triangle.
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Las Vegas: A renovation of the 500,000-square-foot Miracle Mile Shops at Planet Hollywood Resort & Casino is expected to be complete in spring 2023. The property will get elevated finishes, upgraded technology and digital design elements, such as immersive light, sound and video experiences. Guests also will enjoy new and upgraded restaurant zones. Tenants include Garrett Popcorn Shops, Nacho Daddy, Cabo Wabo Cantina, Club Tattoo and Tipsy Robot, a cocktail bar operated by robots. Miracle Mile Shops is owned by an affiliate of Institutional Mall Investors, which is a joint venture between Miller Capital Advisory and CalPERS.
Miracle Mile Shops’ north entrance
Philadelphia: Federal plans to capitalize on population growth in the city’s suburbs by reinvesting in two of its supermarket-anchored centers there. The developer is upgrading Lawrence Park Shopping Center and Bala Cynwyd Shopping Center, both of which are anchored by Acme supermarkets.
Broomall, Pennsylvania’s 50-year-old, 29-acre Lawrence Park is undergoing a $30 million revamp of its appearance and improvements to traffic flow. The project launched last year with the construction of a facility for medical service provider Main Line Health. The developer is adding outdoor dining, as well as gathering areas inside and out. It’s also installing more-convenient curbside pickup infrastructure. HomeGoods and T.J.Maxx also anchor the center. The redevelopment plan includes the addition of 32,000 square feet for new tenants like P.J. Whelihan’s Pub + Restaurant, Crumbl Cookies and KinderCare. Once work is complete, the site will house 374,000 square feet of retail. Construction is expected to be complete this year.
The 174,000-square-foot Bala Cynwyd Shopping Center is getting an $8 million refresh: upgraded facades, gathering areas, 80 outdoor seats, eight curbside pickup locations, updated pedestrian and vehicle traffic flows, common areas for outside dining, and tenant-specific outdoor dining. Tenants include Michaels, Five Guys and Honeygrow. Construction will be finished by summer 2023.
Federal’s plan is to boost the already successful properties with more amenities as the suburban Philadelphia population continues to grow, said vice president of leasing Jeff Fischer. “Both properties are in geographically desirable locations where guests can shop, dine and gather. These upgrades, coupled with the right mix of new and existing tenants, will help differentiate and enhance two already very successful shopping centers.”