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GREENVILLE, NC-Locally based Brodyco, Inc. is moving forward with the redevelopment of the Carolina East Mall into the 425,000-sf 11 Galleria. The former mall will be turned into an open-air lifestyle retail environment.

A spokeswoman for Brodyco tells GlobeSt.com the redevelopment carries a $70-million price tag. The plans call for a new 68,000-sf Kohl’s department store, which is eyeing a fall 2007 opening. An exterior renovation of the Sears department store will begin this spring, with the store remaining open throughout the work. In addition, another 45,000 sf of retail will round out the first phase of construction, with opening dates and tenants expected to be announced later this year, according to Brodyco.

An additional 250,000 sf of specialty shops and junior anchors will come online over the next three to five years. “We are pleased to unveil these exciting plans as we continue our efforts to convert 11 Galleria into a first-class mixed-use property that will be in the making over the next five years or so,” HJ Brody, president and CEO of Brodyco, says in a statement.

Brodyco also owns Mayfaire Towne Center, a $300-million mixed-use development in Wilmington. Phase one of Mayfaire Towne Center, at 383,922 sf, opened in 2004; phase two, at 177,778 sf, is expected to open in June; and phase three, at 99,858 sf, is expected to open in September 2008. All total, the company owns and manages 1.5 million sf.

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