Tuesday, April 24, 2012
University Town Center inches closer
Since moving back to the Sarasota-Bradenton area about three years ago, there's one project I kept hearing about time and time again. It has generated more local buzz and excitement than just about any other in recent memory.
Today, that project took a colossal step closer to becoming a realty.
As I reported in my online post this morning, and the full story (you'll have to check back at Bradenton.com later for that), the University Town Center has secured its three top anchor tenants.
Several more details about the long awaited shopping destination also have emerged.
The upscale fashion mall -- which will feature Macy's, Dillard's and Saks Fifth Avenue among 115 others -- is scheduled to begin construction this year and open by 2014. The project will cost $315 million.
The mall will fill a small gap in what is already one of the most heavily commercialized corridors in the greater Sarasota-Manatee area, with Lakewood Ranch a stone's throw away and a slew of other big box retailers lining University Parkway from Interstate 75 to Tuttle Avenue.
Sarasota County officials are touting the project because it's their tax gain (just south of the border). But the biggest winners are Southern Manatee residents, like me, who now have to drive to Sarasota or west Bradenton to find the closest true shopping mall.
It's still a guess as to what the remaining 115 stores and six sit-down restaurants will be. Developers say about half will be new to the market. I'm hoping for a Cheesecake Factory myself.
What about you, what retailer-restaurant would you most like to see land a home in the new mall? And are you excited the project is finally becoming a reality?
For the latest breaking business news, please follow me on Twitter @JoshSalman. That's where I post everything first, as well as interesting tidbits you won't find anywhere else.
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I would love to see Anthropologie. The closest stores now are in Tampa and Naples. I think this area is ripe for the clothing and housewares retailer.
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