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POCONO MANOR, PA-CBL & Associates Properties Inc. hasentered into a 50/50 joint-venture agreement with MatzelDevelopment to develop, own and manage the planned 616,000-sfretail village component of Pocono Manor Resort & Casino. Thedeal is contingent on Matzel's receipt of one of the state's casinolicenses designated for a resort, which is expected to bedetermined by the end of this year.

If Matzel doesn't obtain a gaming license, "we'll re-evaluateour participation at that time," a CBL spokeswoman tellsGlobeSt.com. No preleasing has yet taken place. "It will be acombination of restaurants and retail," the spokeswoman says, "andwe have relationships with national companies." She declined todescribe potential tenant targets and adds, "we don't discloseasking rental rates." Nor would she provide an estimatedconstruction cost for the retail component. No date is set forgroundbreaking, but she reiterates that the $1.4-billion resort andcasino project has scheduled a 2008 opening.