Peninsula Town Center Gets Green Light
December 7, 2005
After more than a year of planning, Steiner & Associates and Mall Properties have received city approval to move forward with the Peninsula Town Center. Work on the project, which sits on the site of the existing Coliseum Mall in Hampton, Va., is scheduled to begin later this spring. The center is expected to open in fall 2008.
The $200-million Peninsula Town Center will be developed in two phases, due to the complexity of the project, says Ralph Ireland, Vice President of Development for Steiner & Associates. The project will involve the demolition of the entire mall, with the exception of the Hecht’s store, which will receive a new exterior.
Phase I will include demolition of a small portion of the mall and construction of two buildings to relocate existing tenants, including JC Penney and another large anchor tenant. A 1,300-space, three-level parking garage will also be built as part of the first phase.
Phase II will include demolition of the remaining portion of the mall and the construction of the balance of the town center, including a new department store, space for more than 65 retail and dining tenants, and a second parking structure.
The existing Coliseum Mall was built in the early 1970s by Mall Properties. Sitting on 75 acres, the mall was originally developed to create a strong economic engine for the region, as well as a partner for the communities it serves.
Peninsula Town Center will honor the traditions set by Coliseum Mall, both from an economic and community perspective. When completed, the development will encompass nearly one million square feet of mixed uses, consisting of three department stores as well as specialty retailers situated around a town square and a public park with a children's play fountain. Overall, there will be nearly 500,000 square feet of in-line and large-format retail, dining and entertainment. Upper story uses include a cinema, boutique office space, and modern residential living.
