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IN BRIEF

The Avenue Carriage Crossing

Construction is under way on The Avenue Carriage Crossing, an 800,000-square-foot lifestyle center on 135 acres in the Memphis suburb of Collierville, Tenn. Its anchors are Dillard’s and Parisian, and the tenants include Abercrombie & Fitch, Barnes & Noble and Talbots. The project, a joint venture of Cousins Properties and Jim Wilson & Associates, is scheduled to open next October.

Southaven Towne Center

Work has begun on CBL & Associates Properties’ open-air Southaven (Miss.) Towne Center, six miles south of Memphis. Dillard’s and J.C. Penney will anchor the 625,000-square-foot center, which will sit on 196 acres. The first phase, consisting of Penney and some small shops, is to open next fall, with Dillard’s and others following in the spring of 2006.

Miracle Center

Miracle Marketplace, a Miami-based limited partnership, bought Miracle Center, a 433,000-square-foot building in Coral Gables, Fla., for $15 million. The three-level structure, originally planned as a retail-residential complex, is currently vacant. The new owner says it will remake the facility as an exclusively retail project.

South Point

Cousins Properties, North American Properties and Simon Property Group plan to build a retail, residential, office and entertainment district in McDonough, Ga. The $200 million project, called South Point, will sit at the intersection of Interstate 75 and Georgia Highway 20, south of Atlanta. South Point is to comprise 1 million square feet of retail and restaurants, 500,000 square feet of offices and 1,000 residential units. The developers expect to complete the project by 2007, but plans are to open the first stores in the spring of 2006.

Soho Square

Developer Cyprus Partners is opening three projects this month, including a new city hall building in Birmingham, Ala. Soho Square and Soho Flats, each of which consists of 25,000 square feet of ground-floor retail beneath residential space, flank the 100,000-square-foot Homewood City Hall building. A landscaped plaza connects the buildings and provides a place for retail kiosks and a space for live performances.

DeBartolo Development

Tampa, Fla.-based DeBartolo Development decided not to go forward with development of Towne Centre at Cielo Vista, in El Paso, Texas. Executives say they had tax increment financing approval for a $112 million project at Hawkins Avenue and Interstate 10, but they changed their minds following a significant rise in the site’s appraised value and property taxes. The city will seek a new developer.

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