"Loews is trying to work out its financial difficulties,"Rubenstein says. "We are continuing to talk with them as well aspursue other options."
He reveals that Tishman recently realized that financing of the400,000-sf project "could not be structured due to Loews currentfinancial situation." Loews was to build a 21-screen movie,5,100-seat theater at the development on Mamaroneck Ave., and MainSt. Another lead tenant at the project will be a Target departmentstore.
Tishman had hoped to begin demolition of the vacant Macy'sdepartment store this month.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
