A 272-acre megamall is one step closer to construction in Bradenton, Florida after a judge recommended the acceptance of the current plan. University Town Center, to be located near Interstate 75 and University Parkway is expected to include 1.6 million square feet of retail space, 220,000 square feet of office space, 500 hotel rooms and about 1,750 residential units.
“We are very excited that we received a favorable recommendation,” said Mark Chait, director of Florida leasing for Benderson Development, the lead developer of the project. “The administrative law judge issued his ruling, which was recommending that the DCA sign the order to move forward.” If the agency accepts the recommendation, construction could begin almost immediately. The agency has 30 days to make a final ruling.
Once final approval is given, University Town Center is scheduled for completion in 2010. There will be an 80,000 square foot Neiman Marcus store as well as a 138,000 square foot Nordstrom’s at the mall. As part of the new plan, Benderson Development has agreed to spend $4.5 million in infrastructure improvements. Benderson is currently developing a timetable for the construction of the project and will announce further plans once the agency has made its final ruling.
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