Business & Tech
Laurel Mall Redevelopment: New Tenant, Construction Schedule Unveiled
Sports Authority joins the list of businesses for Towne Centre Laurel. Retail construction is due to wrap up in Oct. 2014.
National sporting goods chain Sports Authority has joined the list of businesses for Towne Centre Laurel, the planned $130 million redevelopment of the site where Laurel Mall once stood.
Greenberg Gibbons, the developer behind the open-air retail and residential plaza, revealed an updated list of tenants along with an estimated construction schedule at Monday night's Laurel Mayor and City Council meeting.
Sports Authority will occupy a 33,458 sqft. space, according to Greenberg Gibbons.
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The complex is also set to include a 49,002 sqft. Harris Teeter supermarket, a 50,507 sqft. Regal Cinemas movie theater, and an upgraded 64,964 sqft. Burlington Coat Factory store.
In all, the developer plans to build 400,000 sqft. of retail, dining, and entertainment space as well as 435 residential units.
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Greenberg Gibbons laid out the following timetable on Monday:
- May 2013: Site work starts
- June 2013: Construction of phase 1 of retail space begins
- July 2013: Demolition of the existing Burlington Coat Factory store concludes
- November 2013: Harris Teeter’s pad site delivers
- November 2013: Construction of phase 2 of retail space begins
- February 2014: Shell of phase 1 retail is complete
- March 2014: Residential construction begins
- April 2014: Phase 1 of retail opens
- July 2014: Shell of phase 2 retail is complete
- October 2014: Phase 2 of retail opens
- March 2016: Residential units are finished
“This project will bring new life to the site, and our high-quality anchors will help attract more top-notch retailers and restaurants to a deserving community," Brian Gibbons, Chairman and CEO of Greenberg Gibbons, said in a statement.
The 31-year-old Laurel Mall site was purchased in 2006 by Somera Capital Management and AEW Capital Management, which later partnered with Greenberg Gibbons.
The old mall was mostly razed in 2012 and has remained vacant since, apart from the recently-shuttered Burlington Coat Factory and a U.S. Postal Service trailer.
What other sorts of businesses would you like to see at Towne Centre Laurel? Let us know in the comments.
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