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LITHONIA, GA-Joint venture partners Cadillac Fairview of Toronto and Forest City Enterprises of Cleveland are on a fast track to develop an 1,100-acre mixed-use community anchored by their four-year-old, 1.3-million-sf Mall at Stonecrest at Interstate 20 East at Turner Road in suburban Atlanta.

Area retail brokers following the mall’s progress, five miles east of Downtown Atlanta, tell GlobeSt.com the mall itself is at 95% occupancy while the residential and office components are in a high development mode.

For example, they point to Calabasas, CA-based Ryland Homes’ four completed model homes at the Parks of Stonecrest where 700 townhomes and single-family residences will be priced from $200,000 to $500,000. The first of two two-story office buildings, being completed on a spec basis, is expected to be ready for occupancy in December.

BB&T plans to break ground in July on a bank branch and Fairfield Inn is scheduled to start construction on a 75,200-sf hotel with convention space in September. The hotel-convention component is tentatively scheduled to open in spring 2006, area brokers familiar with Fairfield’s development plans tell GlobeSt.com.

Brokers tell GlobeSt.com they are monitoring progress at the Mall of Stonecrest site at this time because the project differs in design and purpose from the 18 area malls each sized at about one million sf of rentable space. According to the mall’s website, the mall is designed as a collection of buildings “arranged in a continuous, curvilinear configuration that forms an exterior park.”

Anchor tenants are located along the outer ring and ends of the curved mall “to allow for highway and main entry exposure, while the inner ring envelops the extensively landscaped exterior park.” RTKL International Ltd. of Baltimore designed the Mall at Stonecrest and its mixed-use components.

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