JACKSON, MS-In conjunction with the signing of its first anchor, local developer Maittice Properties Inc. is planning a fall ground breaking for the $230-million, 75-acre mixed-use Renaissance at Colony Park. Consisting of 1.24 million sf of office and retail space, the lifestyle center will feature Saks Inc.'s first Parisian store in a 130,000-sf spot.
The Renaissance at Colony Park, situated at the junction of Old Agency Road and Highland Colony Parkway, is the area's first lifestyle open-air center. Maittice is planning to complete the project fall 2007. The 650,000-sf retail component will contain more than 60 retail stores and several restaurants, with annual sales projected to tip $162 million.
The office component will feature three buildings, totaling about 615,000 sf. Cellular South, currently located in Downtown Jackson, has preleased 80,000 sf in the project.
T. Andrew Maittice, president of the namesake firm, says accessibility, visibility and close proximity to shoppers in the Jackson area prompted his company to form a partnership with H.C. Bailey Cos. of Madison, MS, to develop the center. "Renaissance is in the bull's eye of the metropolitan Jackson community," he says in a prepared statement for GlobeSt.com.
Maittice adds that preleasing is "going well," with leasing commitments obtained from P.F. Chang's Chinese Bistro, Ethan Allen Interiors Inc. and White House/Black Market. Hyatt Hotels Corp. also has made a commitment to develop a hotel on part of Maittice's land.
Maittice Properties is leasing the project. Haor Construction of Birmingham, AL is overseeing construction. Dean & Dean Associates in Jackson is the architect.
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