|
|
|
|
Copyright
© 2003 Site
designed by
|
 |
2 more retail centers coming BYLINE: RENEE DEGROSS Las Vegas -- Retail developers plan two more "lifestyle" shopping centers in the north Atlanta suburbs. Forum Development Group, backed by veteran shopping center developer Stan Thomas, hopes to build a large open-air center called the Forum-Alpharetta. It would be at the northwest corner of Ga. 400 and Old Milton Parkway in north Fulton County. Meanwhile, Cousins Properties plans its fourth Avenue development in metro Atlanta, this one off Ga. 124 in Gwinnett County. Officials with the two companies unveiled the plans in interviews Monday at a real estate convention in Las Vegas. Neither project has announced any committed tenants. The "lifestyle center" projects are part of a retail trend toward compact, open-air centers built in or near neighborhoods. Cheaper to build and maintain than malls, and often easier to lease, the projects use wide sidewalks, park benches and fountains to create a Main Street feel. The Forum-Alpharetta would occupy part of a site where Taubman Centers Inc. once planned to build a 1 million-square-foot mall. Taubman shelved the idea about two years ago. Rouse Co. also shelved a separate mall plan in nearby south Forsyth County, despite lining up Neiman Marcus as an anchor. Forum Development Group plans a project with 800,000 square feet of specialty retail space, up to two department stores, a movie theater and restaurants. Office, residential, and hotel space alsoare in the plan. Forum officials said the company owns part of the nearly 90 acres and will seek rezoning of 66 acres. They hope to open the center in 2006. Thomas said they are working with the city of Alpharetta to create something "exciting." Cousins' Avenue Webb Gin Corners would open in early 2006 at Webb Gin House Road and Ga. 124 in Gwinnett, Cousins officials said. "We've had success with other Avenue developments in similar neighborhoods," Cousins spokesman Matt Gove said. Cousins has two Avenue developments in Cobb County and a third in Peachtree City. Shoppers visit "lifestyle center" projects 3.8 times a month vs. 3.4 visits for larger regional centers, according to International Council of Shopping Centers data. Last week a partnership including Cousins, Simon Property Group and North American Properties announced plans for a major open-air center in Henry County.
|
