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[IMGCAP(1)]PITTSBURGH-CBL & Associates Properties Inc., and Faison Enterprises Inc. have formed a joint venture to develop Settlers Ridge, a 600,000-sf lifestyle center on 79 acres in Robinson Township. The open-air center will have approximately 150,000 sf of specialty retail, with the remainder devoted to restaurant and entertainment venues.

Two anchors have signed up. They are Cinemark for a 16-screen, stadium-seating theater, and Giant Eagle Market District. A CBL spokeswoman says the supermarket will occupy 150,000 sf of leased space.

[IMGCAP(2)]Market District is locally based Giant Eagle Inc.’s new, upscale brand and concept, designed, the supermarket chain says, as a destination for “food enthusiasts.” This will be the first ground-up Market District unit and the third in operation.

Chattanooga, TN-based CBL has a 60% share of the partnership and is responsible for the development, leasing and management. Faison, which is based in Charlotte, NC, is a 40% partner. The CBL spokeswoman says the construction cost is not being released, nor are lease rates.

Additional anchors, not yet announced, will include a bookstore, sporting goods store, seasonal craft store and fitness center. In a statement, Stephen Lebovitz, CBL’s president, says more “retailers and restaurants will be announced shortly.” Settlers Ridge is scheduled to open in summer 2009.

“We expect to offer a broad range of lifestyle shopping, entertainment and dining options,” says Howard Biel, senior managing director of Faison, who tells GlobeSt.com a lease has been signed with PF Chang, and “others are on the lip of being announced.” In a statement, he adds, “the retailing venues at Settlers Ridge will be reminiscent of the best city streets and urban districts found throughout the country. Settlers Ridge will offer Metropolitan Pittsburgh a truly first class shopping experience.”

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