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COEUR D’ALENE, ID-Price Legacy Corp. says it has bought land in the 74-acre Riverstone development and intends to build a 225,000-sf retail facility and 2,300-seat movie theater by May 2004.

The San Diego-based REIT says the shopping center will rise on the western portion of the site, “a live, work and walk” community along the waterfront. Regal Entertainment has agreed to build the 14-screen cinema. Other plans call for national retailers, restaurants and condominiums.

Riverstone, on the Spokane River near Lake Coeur d’Alene features aunique waterfront community. Plans call for the 74-acre site to feature 500,000 sf of high-tech office buildings, a high-end retail center, and waterfront and secondary homes.

Price Legacy acquires, operates, develops and sells open-air shopping centers nationwide. The company manages its properties through regional offices located in Arizona, California, Florida, Utah and Virginia. It currently operates such centers in 13 states.

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