"In today's market environment, development continues to be ourprimary driver of growth and represents our best alternative forhigh-yielding investments," John Kite, president and chiefexecutive officer, told investors during Friday's earningscall.

The company's Q2 initiatives consist of: Gateway Shopping Centerin Marysville, WA, a 255,000-sf community shopping center thatincludes two shadow anchors, Kohl's Department Store and WincoFoods; Sandifur Plaza in Pasco, WA, a 27,400-sf neighborhoodshopping center featuring a 14,800-sf build-to-suit Walgreens; andCornelius Gateway in Cornelius, OR, a 36,100-sf neighborhoodshopping center featuring a 14,800 build-to-suit Walgreens.

Following the end of its second quarter ended June, Kite enteredinto a joint venture with Rossman & Associates, a regionaldeveloper, to develop the $17 million Beacon Hill Shopping Centerin Crown Point, IN. The first 36 acres of the Beacon Hill projectwill be a 161,000-sf community shopping center shadow anchored by a70,000-sf Strack and Van Til grocery store.

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