The first retail stores are expected to open by spring 2007, according to a prepared statement from the developers. They are locally based Cousins Properties Inc., Indianapolis-based Simon Property Group Inc. and Cincinnati-based North American Properties Inc. A representative for North American tells GlobeSt.com the developer "doesn't give out development costs" but says "the estimated valued of the project is $100 million."
Besides the retail component, the project will have 100 condominiums built on 1.13 acres in the northeast corner of the development, adjacent to the stores, as GlobeSt.com previously reported. The developers had initially planned 1.2 million sf of retail. Kohl's and J.C. Penney will anchor the retail area.
In the prepared statement, Ralph Conti, a partner and vice president of development for North American, says "national and regional retailers and restaurants have expressed a high level of interest in locating their first Henry County storefront at South Point."
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