MAUMEE, Ohio, Oct. 6 /PRNewswire/ -- General Growth Properties, Inc.
(NYSE: GGP) is pleased to unveil a newly revised site plan for The Shops at
Gateway Crossings, its newest project in Maumee, Ohio, near Toledo. The site
plan calls for the construction of an open-air streetscape center, instead of
a larger enclosed regional mall as proposed two years ago. The 130-acre
retail village is located in Maumee, Ohio, approximately 10 miles south of
Toledo on US 24 at Jerome Road.
"We scrapped the original plan in favor of a more architecturally and
environmentally appealing street of shops. We gathered input from the city of
Maumee and have listened closely to residents and several local civic
organizations. We think the revised site plan is what the residents of Maumee
will want," said Ron Den Adel, vice president of development for General
Growth Properties.
The Shops at Gateway Crossings is designed to be an architecturally
appealing open-air center. The striking streetscape design will become a
showcase for upscale retailers. The detailed store fronts and freestanding
retail will compliment the charm of Maumee and have the characteristics of a
quaint, old-style Midwest main street. The center is designed to feature
department stores, a book store, a sporting goods retailer, a 20-screen
theater, and a village of distinct shops and restaurants. The Shops at
Gateway Crossings is scheduled to open in the summer of 2005.
General Growth Properties is the country's second largest shopping center
owner, manager and developer. General Growth currently has ownership interest
in, or management responsibility for, a portfolio of 163 regional shopping
malls in 39 states. The company portfolio totals approximately 145-million
square feet of retail space and includes over 16,000 retailers nationwide. A
publicly traded Real Estate Investment Trust (REIT), General Growth Properties
is listed on the New York Stock Exchange under the symbol GGP. For more
information on General Growth Properties and its portfolio of malls, please
visit the company web site at http://www.generalgrowth.com .
SOURCE General Growth Properties, Inc.
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CONTACT:
David Keating, Manager, Media and Consumer
Relations of General Growth Properties, +1-312-960-6325, or fax,
+1-312-960-5484
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