Plans for Capital City include the creation of a new eight-bayfood court and two family-themed restaurants, which will take theplace of what he described as an undersized theater that iscurrently operating on a month-to-month basis. The existing foodcourt space will be developed into a lifestyle wing with 30,000 sfof specialty retail space, and about $2 million will be devoted toredesigned entrances and improvements to the existing mall commonarea.

Construction will begin in first quarter 2005. The new foodcourt and restaurants are scheduled to open in fourth quarter 2005,and the lifestyle wing is expected to open in second quarter 2006.Tenant negotiations are underway, according to Coradino. Hecht's,JC Penney and Sears are the anchors, and, at the end of thisSeptember, the mall was 98.4% occupied. Sales per sf were $345.

At New River Valley, the existing Regal Cinemas' 31,000-sf,11-screen theater will relocate to a new 53,000-sf, free-standinglocation to be built near the mall's perimeter. The new theaterwill have 14 screens and stadium seating with seating capacity formore than 2,500. It is scheduled to open in second quarter2006.