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DALLAS-This weekend, Dallas-based L&B Realty Advisors Inc. is marking the ribbon-cutting on a 550,000-sf lifestyle center in Ft. Wayne, IN.

The developer’s newest venue, Jefferson Pointe, is a $75-million joint venture project with RED Development of Scottsdale, AZ. The project was on the drawing boards since April 2000.

Jefferson Pointe is situated at the intersection of US Highway 24 and Illinois Road. G. Andrews Smith, L&B’s chairman and CEO, says the retail center “broadens our product lines and enhances our ability to meet the varied needs of today’s investor.” “Mixing the hominess of Main Street with the cachet of fashionable Fifth Avenue stores create the type of environment that shoppers want.” And, he adds, it’s most likely the first of many high-end centers to come from the Dallas-based development company, an independent affiliate of UK-based Old Mutual PLC.

Jefferson Pointe is a Mediterranean-style stucco design. The Iowa-based Von Maur department store serves as the anchor for the accompanying roster of high-end retailers.

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