by donna soda
on Wednesday, January 23rd, 2013 at 11:54pm.
New Mall Expects To Generate $500 million in Sales.
Construction is currently in progress at the location of the Mall at University Town Center which is said to become the home to over 100 stores and restaurants and a projected $500 million in sales revenue is expected to come from its retail area of 680,000 square feet.
Benderson Development has been reported to be constructing the fashion spot with Taubman Centers at the southwest corner of I-75 and University Parkway. Taubman Centers is said to be an S & P MidCap 400 Real Estate Investment Trust dealing in the ownership, management and/or leasing of 28 regional, super regional and outlet shopping centers across United States and Asia.
Reports show that the developer's executive director of leasing Mark Chait has said that the 1.5 million square feet project is also expected to include 500 hotel rooms, 1,750 housing units, and a 220,000 feet for retail. He says that the mall will be the single largest development in Southwest Florida.
The two-level Mall at University Town Center is said to be open on October 16, 2014.