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RICHMOND, VA-Saks Fifth Avenue plans to build an 80,000-sf store as part of a planned retail development here. The store expects to open in the fall of 2003, along with Stony Point Fashion Park, a 680,000-sf open-air retail center being developed by Taubman Centers Inc. This is the second Saks store the company will have in Virginia. The first, a 120,000-sf store is located at Tysons Corner in McLean, VA.

Stony Point is located on Chippenham Parkway at the James River crossing in Richmond. There are 62 Saks Fifth Avenue stores nationwide. Taubman, a real estate investment trust based in Bloomfield Hills, MI, has 31 shopping centers in 13 states, including three in Virginia: MacArthur Center in Norfolk, VA, Regency Square in Richmond, and Fair Oaks in Fairfax, VA.

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