LOWER NAZARETH TOWNSHIP, PA-Regency Centers is planning to develop a 238,984-sf retail project here–its first ground up development in Lehigh Valley. The total development costs for the project, which is expected to break ground in the spring, have been penciled in to be $30 million, including the land acquisition costs, according to Powell Arms, Regency Centers’ VP of investments. The firm just revealed that it had recently closed on the acquisition of 32 acres in Lower Nazareth Township.

Plans call for Regency to construct the retail center at Lower Nazareth Commons shopping center. It will include a 133,000-sf Target next to an existing, non-Regency owned Wegmans supermarket. Restaurants, service and retail businesses will be among the other tenants.

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