Entertainment & Specialty Project Roundup
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Entertainment & Specialty Project Roundup

A&R Development Corporation is developing two 60,000 sq.ft. office buildings called Symphony Center in Baltimore, MD. The project is situated on six acres at the intersection of Howard Street and Martin Luther King, Jr. Boulevard, a mile north of the Inner Harbor and next to the city’s light rail line. The complex will include retail on the first floor of each building facing Park Avenue. Manekin Brothers Abeshouse will be the exclusive broker for the buildings and rent has been set at $20 psf plus utilities.

For more information contact Lynn Abeshouse, Manekin Brothers Abeshouse, 1405 Forge Avenue, Baltimore, MD 21209; 410-779-9600, Fax 410-779-9610.

SL NoHo LLC will develop a $194 million project adjacent to the North Hollywood subway station in North Hollywood, CA. The company plans over 800 residential units, 228,000 sq.ft. of retail space for a supermarket and restaurants, 200,000 sq.ft. of office space, a community health center and a child care center. The ground breaking is scheduled for January 2003 for the first two phases which are expected to be complete by mid-2005.

For more information contact Jerry Snyder, SL NoHo LLC, 5757 Wilshire Boulevard, Penthouse 30, Los Angeles, CA 90036; 323-857-5546, Fax 323-857-7042.

FMC Group, LLC is developing a senior-oriented mixed-use project located on Fond du Lac Avenue in Germantown, WI. The project will start with four eight-unit condominiums and eventually will include three 28-unit and two 68-unit apartment buildings with a swimming pool, clubhouse, fitness center, restaurant and retail shops. The $55 million investment is known as ArborVillage.

For more information contact Dr. Byron Frenz, FMC Group, LLC, 108 South Broom Street, Madison, WI 53703; 608-251-8400, Fax 608-251-7479.

Cigna Corporation is seeking a partner to redevelop the Northland Mall in Columbus, OH. The center will lose three anchor stores when the Polaris Fashion Place opens this month. Sears Roebuck & Company and Federated Department Stores, Inc. own their properties at the center and will work with Cigna. The City of Columbus has pledged $12 million in improvements for the Morse Road corridor in which the center sits. Jones Lang LaSalle has been hired to manage the center.

For more information contact John Millar, Jones Lang LaSalle, 3500 Piedmont Road Northeast, Suite 600, Atlanta, GA 30305; 404-995-6300, Fax 404-223-4744.

Artemis Realty Group and Starwood Western Capital are parting ways on the proposed mixed-use development called The Waterfront in Scottsdale, AZ. The 11-acre site is located between the Scottsdale Fashion Square Mall and the older downtown shopping district. The parcel is bordered by Camelback Road, the Arizona Canal and Goldwater Boulevard. The Scottsdale City Council has the right to approve any new capital partner and the split may affect the city’s $10 million plan to fix up the canal banks adjacent to the development.

For more information contact Walt Rector, Artemis Realty Group, 4550 Post Oak Place, Suite 244, Houston, TX 77027; 713-623-6609, Fax 713-623-6661.

Cappelli Enterprises is developing a mixed-use project in Ossining Village, NY along the Hudson River. The development is rumored to include 225 apartments and around 16,000 sq.ft. of retail space. The project was reduced from its initial size after citizens worried it would crowd the riverfront.

For more information contact Joseph Apicella or Jeffrey A. Castaldo, Cappelli Enterprises, 115 Stevens Avenue, Valhalla, NY 10595; 914-769-6500, Fax 914-747-9268.

Malbis Bay, LLC is developing the Eastern Shore Centre in Baldwin County, AL. The project will include two major department stores, a 12-screen theater and a 200,000 sq.ft. specialty retail and entertainment portion. Dillard’s will open a 126,000 sq.ft. store and Sears is in negotiations to build a 100,000 sq.ft. store and a 9,000 sq.ft. auto center. The center is scheduled to open in Fall 2003 and is located at the intersection of Highway 181, Interstate 10 and Highway 31, directly across from the Timbercreek Golf Club. Malbis Bay, LLC is a joint venture between The Herring Group, The Trotman Company, Foshee Realty and Stephens Property Group. Herring will lease and manage the property.

For more information contact Susan Kutelski or Buddy Herring, The Herring Group, 5710 Lyndon B. Johnson Parkway, Suite 450, Dallas, TX 75240-6320; 972-448-0200.

The Downtown Development Authority of Muskegon, MI and Rick Perlman are in discussions over the taxable and actual value of the Muskegon Mall, located in the city’s downtown. Without resolution the center could be foreclosed upon in March 2002 and revert to the state. The City of Muskegon could pay the back taxes, interest and penalties and recover the center for themselves. The Muskegon County Equalization Bureau is attempting to keep the valuation as high as possible and has consolidated the center’s 34 parcels into five.

For more information contact The City of Muskegon Planning Department, City Hall, 933 Terrace Street, P.O. Box 536, Muskegon, MI 49443-0536; 231-724-6702.