COLLEGEVILLE, PA-The Upper Providence Township Board of Supervisors has approved Audubon Land Development's preliminary plan for Phase I of its 140-acre, master-planned Providence Town Center. The opening phase, located at the intersections of Routes 422, 29 and 113, consists of 505,092 sf of lifestyle retail.
Chicago-based Urban Retail Properties Co. is providing development consulting and handling retail leasing. Although Susan Cadieux, the Urban EVP in charge of leasing for this project, declines to divulge the names of prospective tenants, she tells GlobeSt.com, "there will be several, probably between seven and 10, big-box retailers in the center." All will be on ground leases, and they will not build their own stores.
Retail is separated into "pods," and there will be multiple buildings, according to Cadieux. "Restaurants are a very important component, and the line-up includes fast food, fast casual and sit-down dining, catering to all demographics, including the strong office component of the finished center," she says.
There will be no movie theater, "because there is one an exit away." Specialty retail includes "strong national companies along with regional and local merchants," she says. "We don't want it to be cookie-cutter and we love to blend strong local merchants from the area in with national and regional retailers."
As for rental rates, Cadieux declines to disclose a range. "There are many variables at play in rent structures, and we feel strongly about obtaining the right tenant mix. Tenants will mirror the better demographic of the area," she adds.
A call to Audubon was not returned by deadline. In a statement, Tony D'Orsogna, VP of office and retail properties, says, "the lifestyle center will have a main street environment, unique to the area."
Bernardon Habor Holloway Architects, which has offices in Downingtown and Kennett Square, is designing "small-town style architecture and streetscapes, similar to those found in western suburbs of Philadelphia," according to Neil Liebman of the firm. Phase I is scheduled to open in August 2007, and Cadieux expects it to be fully leased at the opening. According to published reports, the retail component of the master plan will occupy approximately 59 acres of the land. Additional phases will include a hotel as well as office space.
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