SYDNEY-The locally-based Westfield Group has opened the firstphase of Westfield Sydney, a one-million-square-foot, $1.2 billionredevelopment of three former retail centers. The project, whichalso includes another 820,000 square feet of office buildings, isexpected to be complete in early 2012.

The project integrates three former retail centers: Centerpoint,Imperial Arcade and Skygarden, as well as Sydney Tower and theformer Sydney Central Plaza. The center joins three new officebuildings on Pitt Street Mall, bordered by Castlereagh and Marketstreets.

About 130 stores are now open in Westfield Sydney, and another120 stores will open in the next year, according to the company.The local headquarters of J.P. Morgan is moving into one of350,000-square-foot office buildings, and the Australian Securitiesand Investments Commission has moved into another350,000-square-foot building. Another building is available, thoughWestfield itself has said it will move its headquarters from 100William St. to this project.