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"The retailers we announced today are a sneak peek of the premier
fashion retailers that will make Taubman Prestige Outlets Chesterfield a
shopping destination for locals and visitors alike," said Taubman's
chief operating officer William Taubman.
"We look forward to opening our newest Factory Store at Taubman Prestige
Outlets Chesterfield," said Claudio Del Vecchio, Brooks Brothers
Chairman and CEO. "St Louis area residents and visitors will experience a
dynamic destination for exceptional service, quality, and value."
"Today marks the culmination of just over a year-long intensive process
of sequential approvals. Last week, we secured our final Site
Improvement Plan approval. This entitlement document is the
Chesterfield permit authorizing mass grading and full construction of
drainage channels and utilities, leading to foundations and buildings,"
said Taubman, who participated in the groundbreaking ceremony, "and
today we are closing on the land with the Levee District. We respect and
appreciate the diligence and commitment of both the Chesterfield and
Levee District officials."
In celebration of Taubman's groundbreaking, Chesterfield Mayor Bruce
Geiger issued an official City Proclamation recognizing the "tremendous
economic impact that Taubman Prestige Outlets Chesterfield will add to
our community."
Mayor Geiger also stated, "We are excited by and certainly support the
development of a high-end outlet mall in Chesterfield and greatly value
and commend Taubman for its plans to invest in our community. Throughout
this process, Taubman has been extremely flattering in explaining its
desire to build in Chesterfield, pointing to the successful development
of the Valley that we have managed, over the years!"
Taubman Prestige Outlets Chesterfield will feature 450,000 square feet
of retail space with over 100 stores. The 49-acre open-air shopping
center will be located near the Boone's Crossing exit off Highway 40.
Taubman estimates the project will generate 750 construction jobs and
will employ approximately 1,200 people when the mall opens. Taubman
Prestige Outlets Chesterfield is expected to generate sales of
approximately $175 to $200 million with expected tax revenues in excess
of $14 million.
Site preparation and groundwork were initiated in April. At the same
time, Taubman began establishing its corporate presence in the greater
St. Louis area -- joining the Chesterfield Chamber of Commerce, St.
Louis Regional Chamber and Growth Association and the St. Louis
Convention and Visitors Commission. The company also became a major
sponsor of the Chesterfield Summer Concert Series.
"The communities where we build our shopping centers are the key to our
success. We believe it is important to reciprocate and support the
community as well," said Taubman as he presented a $10,000 check to
Chesterfield Arts Executive Director Stacey Morse and Board President
Debbie Franke.
Taubman Prestige Outlets Chesterfield stores announced today:
Banana Republic Factory Store
Gap Outlet
J.Crew Factory
Furla
Anne Fontaine
Brooks Brothers Factory Store
2b Bebe
American Eagle Outfitters - Off Campus
Lucky Brand Jeans
Nine West
Ed Hardy
Body Shop
Jones New York
Carter's
Designer Fragrance Outlet
Easy Spirit
Elegante
Famous Footwear
Hot Topic
Kasper
Thomas Sabo
Aerosoles
Bachrach Outlet
Kitchen Collection
Maidenform
Motherhood Maternity
Ultra Diamonds
Naturalizer
Osh Kosh B'gosh
Billabong
Mikino/Mikino Men's
Gloria Jean's Coffee
Robert Wayne
Rocky Mountain Chocolate Factory
Saucony
T-Mobile
Things Remembered
Sunglass Hut
Time Center USA
AT&T
Taubman Centers is a real estate investment trust engaged in the
development, leasing and management of regional and super regional
shopping centers. Taubman's 27 U.S. owned, leased and/or managed
properties, the most productive in the publicly held U.S. regional mall
industry, serve major markets from coast to coast. Taubman Centers is
headquartered in Bloomfield Hills, Michigan, and its Taubman Asia
subsidiary is headquartered in Hong Kong. For more information about
Taubman, visit
www.taubman.com .
For ease of use, references in this press release to "Taubman Centers,"
"company," "Taubman" or an operating platform mean Taubman Centers, Inc.
and/or one or more of a number of separate, affiliated entities.
Business is actually conducted by an affiliated entity rather than
Taubman Centers, Inc. itself or the named operating platform.
This press release may contain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. These
statements reflect management's current views with respect to future
events and financial performance. The forward-looking statements
included in this release are made as of the date hereof. Except as
required by law, we assume no obligation to update these forward-looking
statements, even if new information becomes available in the future.
Actual results may differ materially from those expected because of
various risks and uncertainties, including, but not limited to the
global credit environment and the continuing impacts of the recent U.S.
recession, other changes in general economic and real estate conditions,
changes in the interest rate environment and the availability of
financing, adverse changes in the retail industry, general development
risks, and integration and other acquisition risks. Other risks and
uncertainties are discussed in the company's filings with the Securities
and Exchange Commission including its most recent Annual Report on Form
10-K.
SOURCE Taubman Centers, Inc.
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