|
AUSTIN GETS RITZY
AUSTIN (statesman.com) – The Domain lifestyle center is under construction at MoPac Blvd. and Braker Lane in North Austin. Developer Simon Property Group Inc. is targeting high-end retailers to occupy the 800,000-square-foot center anchored by Austin’s first Neiman Marcus.
According to those familiar with Simon’s leasing plan, the list of potential tenants includes Tiffany & Co., Polo Ralph Lauren, Barney’s Co-op, Williams-Sonoma Home, Borders, Tourneau, Baily, Banks & Biddle, Lilly Pulitzer, Hugo Boss and Emporio Armani. The completed center will include more than 50 retailers, six high-end restaurants, two hotels, a movie theater and nearly 400 apartment units. The Domain is slated to open in March 2007.
The Domain will serve as the focal point of a major retail complex that will include Domain Crossing and the Shops at Arbor Walk, a mixed-use project with restaurants and retail. All three projects will total 1.7 million square feet, making it the biggest single retail complex in the region.
The City of Austin has awarded the project $37 million in sales and property tax rebates over 20 years. Of that, $1 million is designated to help local retailers with rent and allowances for finishing the interiors of their stores.
RECON (Real Estate Center Online News) for Feb. 24, 2006
|
|
