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STAFFORD TWP., NJ-The Walters Group has started construction for the 100,000-sf next phase of the retail component of its Stafford Park mixed-use redevelopment project here. The latest building is slated for completion later this year and, when finished, will house Best Buy, Dick’s Sporting Goods and PetSmart stores.

The latest construction joins ongoing work for a 137,000-sf Target store, now slated for a July opening. Site work has also begun for a new Costco store, and a 90,000-sf lifestyle center of smaller national retailers is also part of the plan. Altogether, Stafford Park’s retail component will add up to 650,000 sf, all of which is scheduled to be completed by the end of 2009.

“Site work and construction are progressing rapidly,” says David Caldarella, project manager for the Barnegat-based Walters Group. “We’re on schedule.”

At build-out, the $400-million Stafford Park will also consist of 670 residential units, 25,000 sf of offices, recreational facilities and Ocean County offices. The project is rising on 370 acres of former county landfills along Route 72 that Walters is spending $31 million to remediate. As reported here, Walters has also launched a project to test the feasibility of utilizing wind to power the community.

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