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C+CT

76ers Arena Will Rise at Fashion District Philadelphia and 10 More Developments to Watch

July 27, 2022

Birmingham, Alabama: On the site of a 111-year-old former steel plant in a downtown Opportunity Zone, Bayer Properties and The Opal Fund have broken ground on The Hardwick. The 61,000-square-foot center will include office and restaurant space, and construction is scheduled to complete in the first quarter of 2024. “The redevelopment … will reactivate a blighted, former industrial site while encouraging increased foot traffic and placemaking,” said Alex Flachsbart, founder, president and CEO of Opal Fund parent Opportunity Alabama. The Opal Fund has nearly $19 million to invest in qualified Opportunity Zones across Alabama.

The Hardwick. Rendering: Williams Blackstock Architects

The Hardwick. Rendering: Williams Blackstock Architects

Middletown, Connecticut: Economic development officials laid out a vision to transform a 220-acre stretch along the Connecticut River into a city district with retail, restaurants, entertainment venues, mixed-use housing, bike and pedestrian trails and parkland. Now that the master plan is complete, a rezoning proposal is in the works to facilitate development, according to the project team, which is led by planning firm Cooper Robertson.

Boynton Beach, Florida: Predesco acquired a vacant 8.55-acre site for development in Palm Beach County. Plans include a 49,888-square-foot retail complex anchored by a 35,000-square-foot fitness center. The project, which sits near a Walmart, also will feature two drive-thru restaurants, a car wash and a multitenant retail building.

East Cobb, Georgia: North American Properties gained approval to add a central plaza to the 1999-era Avenue East Cobb in suburban Atlanta. NAP entered a joint venture with owner PGIM Real Estate last July to reposition the lifestyle center by adding more hospitality and experiential features. Starting in the fall, the owners will demolish a portion of the central building to make way for an 8,000-square-foot plaza surrounded by restaurants with patios, a covered and raised stage, an LED screen and a deck with seating. The developers also will add a pair of 2,500-square-foot standalone retail/restaurant spaces, and a 500-square-foot concierge building will provide reservation assistance and valet services.

“For over two decades, Avenue East Cobb has served as a staple in the community, but now it’s time for the property to be red

“For over two decades, Avenue East Cobb has served as a staple in the community, but now it’s time for the property to be redefined into a social gathering hub that inspires a new generation of memories,” said NAP senior vice president of development Mike Lant. Rendering: architecture firm Phillips

Joliet, Illinois: The city of Joliet and Cullinan Properties are adding new public roads and other utility infrastructure for the developer’s 310-acre, 1 million-square-foot Rock Run Crossings superregional mixed-use project. Regal will anchor the complex, which will include entertainment, retail, hotels, office/healthcare, multifamily and a possible casino when it opens in 2024.

The future site of Rock Run Crossings

The future site of Rock Run Crossings

Mandeville, Louisiana: Half of a former Winn-Dixie has become a 30,000-square-foot Altitude trampoline park. The park features 10,000 square feet of trampoline space, a multisport court, two golf simulators, a kids play area, four party rooms and a restaurant and bar. It’s the second renovation into an Altitude that SVN | Urban Properties has managed in Greater New Orleans.

Altitude

Altitude

Monroe, New York: RD Management’s 706,236-square-foot Harriman Commons continues to expand. The owner is adding two drive-thru buildings, a 1,923-square-foot food hall with 3,300 square feet of patio seating, and a pad for 7,970 square feet. RD Management also plans more retail on a 3.5-acre parcel near the center’s Target.

Oklahoma City: Skybridge broke ground on the 27-acre, 200,000-square-foot Rose Creek Plaza. It will include a Homeland supermarket, upscale dining and services and luxury retail.

Philadelphia: 76 Devcorp has been created to develop 76 Place — a privately funded entertainment complex and arena for the NBA’s 76ers — on a portion of Macerich’s Fashion District Philadelphia. “The chosen location is a key step in the process of developing a destination that provides Center City and surrounding communities with an economic engine generating activity through 76ers and youth games, concerts, events and more,” said 76 Devcorp leader David Adelman. Macerich CEO Tom O’Hern said: “The decision to repurpose part of Fashion District Philadelphia to include the new 76ers arena is a natural evolution of the site and a unique and once-in-a-lifetime opportunity for our company.” Groundbreaking is several years away, and the development will be completed in time for the 2031-32 NBA season.

Proposed map for 76 Place, a rendering of which is pictured at top

Proposed map for 76 Place, a rendering of which is pictured at top

Pittsburgh: Echo Realty demolished the East Liberty Giant Eagle and its shopping center to make way for a 36,000-square-foot Giant Eagle, 38,200 square feet of small-shop space and a 400-space parking garage, all topped by 230 apartments across five levels. The project has been delayed for years and still needs approval from the city planning commission.

Virginia Beach, Virginia: Pembroke Realty Group plans to spend $200 million to redevelop and rebrand Pembroke Mall as Pembroke Square — which will include hotel, luxury apartments and a senior living facility — by 2025.

—Additional reporting by Commerce + Communities Today editor-in-chief Amanda Metcalf

By Brannon Boswell

Executive Editor, Commerce + Communities Today

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