Regions Midatlantic
May 12, 2008
By: Barbra Murray, Contributing Correspondent
General Growth Properties' vision for Downtown Columbia, Md.'s renaissance will leave the master-planned community awash in green, the developer recently revealed to a crowd of area residents.
Established 40 years ago, Columbia sits about 20 minutes outside of Baltimore. Chicago-headquartered GGP's details on the extensive environmentally friendly elements that will be incorporated into the Town Center redevelopment endeavor were presented last week at GGP's headquarters, according to the Baltimore Sun. The sustainable aspects of the project will include green roofs, solar arrays and storm-water management concealed as civic art, as well as preserved wetland areas. Landscape architect Keith Bowers of Biohabitats is on board as one of the designers overseeing the goal of creating the green enclave. While the project is not currently deemed a transit-oriented-development, experts predict that new commercial and residential product will prompt the addition of new transit options to the area.
Public presentation of these newest details came just days after the company unveiled its overall plan for the project. The initial phase will encompass 300,000 square feet of retail offerings, 200,000 square feet of office space, a hotel and a skating rink with the capacity to be transformed into an open-air market. Specifics about residential components are presently being hashed out and will be publicized in June. GGP intends to present its master plan to Howard County officials this summer.
One of the largest REITs in the country, GGP owns, develops and manages shopping malls in 45 states, and master planned communities in Nevada, Texas and Maryland. As of January, the company's portfolio of owned and/or managed properties encompasses over 200 regional shopping malls accounting for an aggregate 200 million square feet of space. GGP stock opened today at $41.23.
By: Barbra Murray, Contributing Correspondent
General Growth Properties' vision for Downtown Columbia, Md.'s renaissance will leave the master-planned community awash in green, the developer recently revealed to a crowd of area residents.
Established 40 years ago, Columbia sits about 20 minutes outside of Baltimore. Chicago-headquartered GGP's details on the extensive environmentally friendly elements that will be incorporated into the Town Center redevelopment endeavor were presented last week at GGP's headquarters, according to the Baltimore Sun. The sustainable aspects of the project will include green roofs, solar arrays and storm-water management concealed as civic art, as well as preserved wetland areas. Landscape architect Keith Bowers of Biohabitats is on board as one of the designers overseeing the goal of creating the green enclave. While the project is not currently deemed a transit-oriented-development, experts predict that new commercial and residential product will prompt the addition of new transit options to the area.
Public presentation of these newest details came just days after the company unveiled its overall plan for the project. The initial phase will encompass 300,000 square feet of retail offerings, 200,000 square feet of office space, a hotel and a skating rink with the capacity to be transformed into an open-air market. Specifics about residential components are presently being hashed out and will be publicized in June. GGP intends to present its master plan to Howard County officials this summer.
One of the largest REITs in the country, GGP owns, develops and manages shopping malls in 45 states, and master planned communities in Nevada, Texas and Maryland. As of January, the company's portfolio of owned and/or managed properties encompasses over 200 regional shopping malls accounting for an aggregate 200 million square feet of space. GGP stock opened today at $41.23.
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