Here's a press release from Simon, announcing the start of Domain Phase II's construction:
http://www.simon.com/Assets/Mall/120...e%20051908.pdf
SIMON PROPERTY GROUP ANNOUNCES DOMAIN II
- More World-Class Retail and Restaurants Will Open in Austin -
- The Westin at The Domain Will Debut Too -
AUSTIN, TX (May 19, 2008) –Simon Property Group, Inc. (NYSE:SPG), the country’s largest owner, developer and manager of high quality retail real estate, announced today a second phase of its Domain project, a tremendously successful mixed-use shopping center which opened in March 2007 and has since garnered much acclaim as Austin’s most-desirable address to shop, live and work.
Construction on The Domain II will start next month with completion slated for November 2009. The first phase of this 57-acre, mixed-use project opened in March 2007. Designed as an upscale Main Street center, The Domain features Austin’s first Neiman Marcus, Macy’s, an unequalled array of the world’s most renowned retailers, 10 first-class restaurants, 90,000 square feet of Class A office space and 400 high-end apartments.
The ultimate collection of luxury retail, The Domain includes Apple, Barneys New York Co-Op, Borders Books & Music, Burberry, Cole Haan, David Yurman, Intermix, Louis Vuitton, Ralph Lauren, Sony Style, Stuart Weitzman, Sur La Table, Tiffany & Co. and more.
“While complementary to Domain I in quality,” said Kathleen Shields, senior vice president of development at Simon, “Domain II will have its own unique and very hip image, catering to juniors and family shoppers as well as to the fashion-minded clientele of Domain I.”
Set within an architectural framework of contemporary, colorful artistic loft buildings, Domain II will feature a pedestrian esplanade with parks, vibrant landscape beds and intimate passageways that encourage exploration. Opportunities abound for tenants to express their individual identities and brand presentations which will undoubtedly enhance The Domain as one of Austin’s top attractions.
The second phase of the project will include a three-level Dillard’s, a Village Road Show theatre that will be unique to central Texas and a Dick’s Sporting Goods store. A four-star, full-service hotel will also break ground this summer, adding 340 guest rooms, conference facilities and a ballroom to this first-class mixed-use project.
The new Dillard’s will contain 200,000 square feet on three levels and will feature a broad selection of merchandise including the latest in fashion excitement for women, men, juniors and children as well as cosmetics and selections for the home. The tone of the new store, both in building design and in merchandise assortment, will reflect the company’s renewed focus on upscale and contemporary fashion.
Dick’s Sporting Goods will bring an 80,000 square foot, two-level store to The
Domain. Pittsburgh-based Dick's Sporting Goods, Inc. is an authentic full-line
sporting goods retailer offering a broad assortment of brand name sporting goods equipment, apparel, and footwear in a specialty store environment. As of February 2, 2008, the Company operated 340 Dick's Sporting Goods stores, 79 Golf Galaxy stores and 15 Chick's Sporting Goods stores in Southern California.
The Village Road Show Gold Class Cinema will offer movie fans an intimate
atmosphere to watch films with an extraordinary level of personal service. There will be eight auditoriums with approximately 40 seats in each auditorium. Food and alcohol service will be available. This product will be unlike anything else offered in Austin.
World-class dining is another element of the mix that has made The Domain a
favorite for residents and tourists alike anxious to experience new concepts and dishes in a cosmopolitan setting. Domain II will continue the tradition of these unique culinary experiences. Maggiano’s will be bringing its high-level Italian cuisine and banquet facilities to the second phase of The Domain. BJ’s Restaurant and Brewhouse will be coming as well, offering fun and casual fare for the discerning Domain guest. Another exciting addition to the great dining options at The Domain will be Fleming’s Prime Steakhouse & Wine Bar which will open across from Daily Grill.
“The Domain has been a big hit since the day we opened the doors almost 15
months ago and from day one, we’ve been planning to extend the experience and increase the retail and entertainment offerings,” said Shields. “We’ve had great demand from retailers and restaurants who want to come into the project and we’re thrilled that with today’s announcement we will be able to accommodate them with an additional 600,000 square feet of commercial space.”
White Lodging, a fully integrated owner, developer and manager of premium brand hotels, based in Merrillville, Indiana, has partnered with Simon Property Group to add The Westin at The Domain. This will be a 340-room full-service Westin Hotel which will add yet another feature to this prestigious lifestyle and residential center. The Westin at The Domain is scheduled to break ground this summer and promises to be a truly unforgettable and inspiring guest experience which will include thoughtfully designed guestrooms and over 14,000 square feet of meeting space, perfect for any event or occasion.
The mixed-use elements that have made the first phase of The Domain so successful will be duplicated in the second phase. Plans call for 75,000 square feet of Class A office space and another 411 residential units where residents can take advantage on an everyday basis of all The Domain has to offer. “The demand for the residential units has been overwhelming,” said Shields, who also added that the existing apartments were fully leased.
“People love living in this convenient, safe, but still very urban environment. We can’t wait to bring new units on line to meet the demand for this great alternative to more traditional apartment offerings.”
ABOUT WHITE LODGING
Established in 1985 and headquartered in Merrillville, IN, White Lodging is a fully integrated owner, developer and manager of premium brand hotels - a recognized leader that consistently delivers superior leading brand hotel experiences and premium returns on investment among mid-to-large scale hotels across the country.
They currently employ over 6,000 associates and are looking to add an additional 2,500 managers in the next five years. Their managed portfolio of 130 hotels in 17 states encompasses representation of the following leading brands: Marriott; Radisson Hotels, Intercontinental Hotel Group, Hilton and Starwood. For more information about White Lodging, visit www.whitelodging.com.
ABOUT SIMON PROPERTY GROUP, INC.
Simon Property Group, Inc. is an S&P 500 company and the largest public U.S. real estate company. Simon is a fully integrated real estate company which operates from five retail real estate platforms: regional malls, Premium Outlet Centers®, The Mills®, community/lifestyle centers and international properties. It currently owns or has an interest in 382 properties comprising 260 million square feet of gross leasable area in North America, Europe and Asia. The Company is headquartered in Indianapolis, Indiana and employs more than 5,000 people worldwide. Simon Property Group, Inc. is publicly traded on the NYSE under the symbol SPG. For further information, visit the Company's website at www.simon.com.
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