@NOLAnews: Riverwalk to receive $70 million redevelopment as outlet mall LINK
"The Howard Hughes Corp. announced Thursday it is spending $70 million to redevelop the Riverwalk Marketplace in New Orleans as an upscale outlet center. The new venture will be called The Outlet Collection at Riverwalk, according to a statement issued by the company.
The mall's footprint will be expanded by 50,000 square feet to a total of 250,000 square feet. It will showcase top retailers with outlet stores as well as local retail, dining and entertainment venues. The company says it will be the first outlet center located in a major metropolitan downtown setting.
"Our leadership team is committed to being a part of New Orleans' continued revitalization and look forward to bringing a dynamic new concept to this vibrant, charismatic city," said Mark Bulmash, Senior Vice President of Development for The Howard Hughes Corporation.
"This planned redevelopment proposes a new tenant mix that will restore Riverwalk as a favorite place to shop for tourists and locals alike and is another step in making New Orleans a regional shopping destination," said New Orleans Mayor Mitch Landrieu.
The company, which bought the property in 2011, noted that the mall was not updated by its previous owners since its grand opening in 1986. Construction is expected to begin later this year with a projected reopening in late 2013."
This post was edited on 7/26 at 9:36 am