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Mixed Magic

7/31/2007

There is nothing mixed about the reception that today’s dominant format—mixed-use developments—is receiving. Indeed, it has only been positive. Below and on the following pages, you’ll see some of the country’s most magical mixed-use projects.

Located on a 3,790-acre parcel of land with $30 million of new infrastructure, including 29 acres of lakes, new community parks and four miles of new roads, The Market Common, Myrtle Beach project is the first phase and the focal point of the redevelopment program approved by the Myrtle Beach Air Force Base Redevelopment Authority and the City of Myrtle Beach, S.C. The 121-acre development will feature dining, retail, entertainment and hospitality surrounded by landscaped parks, lakes and a public square, as well as thousands of luxurious residential options.

The Market Common, Myrtle Beach

Location: Farrow Parkway in Myrtle Beach, S.C.Size: 600,000 sq. ft. of retail, restaurants, health club and health services, and office space; 181 luxury rental apartments, and 1,441 townhomes and condominiumsDeveloper: Joint venture between McCaffery Interests and the City of Myrtle Beach, S.C.Major tenants: Tommy Bahama Restaurant and Store, P.F. Chang’s China Bistro, Pottery Barn, Barnes & Noble, Consolidated Theatres, Piggly Wiggly, Williams-SonomaStatus: Construction is under way, with a completion date and grand opening slated for April 2008.

Though this part of Atlanta has been underserved with retail and restaurant options, and has been completely dependent on the automobile for decades, Brookhaven Village will soon offer its visitors and residents a chance to embrace the new urbanism concept. At Brookhaven Village, visitors can leave their cars behind and stroll along landscaped pathways from the movie theater to a restaurant, a bookstore and a coffee shop.

Sembler has demonstrated its willingness to break the retail-only mold, which is proving to be good not just for the communities where its projects are located, but for the retail-development industry itself.

Brookhaven Village

Location: AtlantaSize: 1,200 residential units (apartments/condos, townhouses); 600,000 sq. ft. of retail; five-story, 150,000-sq.-ft. office tower—on a 50-acre siteDeveloper: The Sembler Co.Major tenants: In negotiations with grocery, department stores, major fine- and casual-dining restaurants, soft goods, electronics, a health club/gym and community servicesStatus: Site work launched summer 2007.

Highland Row is an exciting, new mixed-use retail and residential community to be located in the heart of Memphis, Tenn., close to the city’s largest institution of higher education, the University of Memphis. Uniquely integrating a collection of retail opportunities with distinctive housing options like nothing else in the market, Highland Row is anticipated to be the primary shopping, dining and residential destination of choice in one of the highest-income trade area corridors in the entire Memphis MSA.

Engaging a sense of place with the character and community fabric of a traditional neighborhood, coupled with the vibrant lifestyle of uptown living, Highland Row is designed to be a place where life meets style.

Highland Row

Location: Memphis, Tenn.Size: 97,000 sq. ft. of retail and restaurant, and 220,000 sq. ft. of residentialDeveloper: Poag & McEwen Lifestyle CentersMajor tenants: To be announcedStatus: Construction will commence fall 2007, with a grand opening slated for fall 2008.

CityScape is a $1 billion investment in the heart of downtown Phoenix, integrated across three city blocks. It is also at the heart of a downtown renaissance that includes a light rail (three stops within a block), a new downtown Arizona State University campus, an expanded convention center (top 20 in the country), a biomedical campus, new hotels, additional residential and other new projects.

Retail demand in downtown is estimated at more than 400,000 sq. ft., and CityScape will be able to provide only 60% of that need. Retail will focus on the needs of downtown (i.e., grocery, pharmacy) and unique urban experiences that aren’t currently found in the fourth-largest city in the country.

CityScape

Location: Downtown Phoenix (three city blocks between 1st Avenue to the west, 2nd Street to the east, Washington Street to the north and Jefferson Street to the south)Size: 2.5 million total sq. ft., with approximately 250,000 sq. ft. of retail. Total uses include—besides retail—restaurant, office, residential (condos and apartments), hospitality and a public park.Developer: RED Development, CDK Partners, Barron Collier Cos. and Novare GroupMajor tenants: P.F. Chang’s, AJ’s Fine Foods, in discussions with several national “urban” retailers and high-end restaurant conceptsStatus: Groundbreaking September 2007, with Phase 1 completion during fourth-quarter 2009 and total project completion estimated for 2011

The Spotsylvania Towne Centre project is a hybrid retail development, mixing a successful regional mall with an all-new, luxury-oriented lifestyle center. The expansion of the shopping center includes a new food court, which will serve as the gateway to the lifestyle center.

The lifestyle center is modeled after Downtown Fredericksburg, with architectural designs that are indicative of Colonial and Civil War-era buildings. This will be a mixing of 18th- and 19th-century elegance with outstanding 21st-century retail excellence.

Spotsylvania Towne Centre

Location: Fredericksburg, Va. (intersection of Interstate 95 and Route 3)Size: Currently 1.5 million sq. ft. (1.7 million after lifestyle addition)Developer: CafaroMajor tenants: Macy’s, Sears, Costco, Belk; coming soon is Muvico Theater, Residence Inn HotelStatus: Interior renovation is complete and construction of the lifestyle center is under way.

A long Florida’s tropical coast arises what promises to be the “Soho of South Florida”—a new world-class destination. Located just a mile from pristine beaches, The Village at Gulfstream Park will immerse guests in a lavish Mediterranean experience of lush gardens, inviting streetscapes and striking architectural details. Stretching over 55 acres in Hallandale Beach, Fla., midway between Fort Lauderdale and Miami, the Village at Gulfstream Park combines the excitement of horse racing with the relaxation and elegance of an upscale shopping and lifestyle destination. Anchored by the famous Gulfstream Park thoroughbred racetrack and casino, the Village at Gulfstream Park will feature elegant retailers.

A ceremonial walking ring, where horses parade prior to the race, seamlessly connects the Village to the Clubhouse. This unique village also includes a residential component that, upon completion, will overlook the picturesque racetrack, Florida’s Intracoastal Waterway and the Atlantic Ocean.

The Village at Gulfstream Park

Location: Hallandale Beach, Fla.Size: 3.5 million sq. ft., with 750,000 sq. ft. of retail, 140,000 sq. ft. of office, 2,500-seat cinema, 500-room hotel, 1,500 residential units, clubhouse and casinoDeveloper: Forest City Enterprises and Magna Entertainment Corp. (MEC)Major tenants: Gulfstream Park, a premier thoroughbred racetrack that is home to the Florida Derby, a casino and restaurants, is the main anchor. While not a traditional “tenant,” its adjacency and connectivity to the center make it an integral component.Status: Groundbreaking in summer 2007, with completion of Phase 1 expected in fall

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