Recent News

  • Apr
    9

Woodlands Square Completes Redevelopment with New Tenants, Strong Anchor Mix, and More

April 9, 2018

Woodland-Square-11418 (002)_Page_05

April 9, 2018

OLDSMAR, FL — Less than two years ago, the pressing questions in Oldsmar were what grocery store planned to open at Woodlands Square and what other changes might the owners make as part of the center’s major redevelopment?

After demolishing functionally obsolete space near the back of the center to make way for new tenants and better traffic flow, today the 315,000 SF center is home to a diverse line-up of major anchor tenants.  What’s new?

  • The 24,000 SF specialty organic and natural foods grocer, Earth Fare, adding a vital component to the diverse tenant mix
  • A $7 million renovation and long-term lease extension of the existing AMC Theatre that features plush power-recliner seating, an IMAX theatre, online ticketing, reserved seating, and renovated concession area
  • Backfilled the former Office Depot with the addition of PetSmart and Five Below
  • Constructed a free-standing Ulta cosmetics which further strengthens a retail anchor tenant draw that includes Beall’s, Marshall’s, and Dollar Tree
  • Shaker n Peel, a new restaurant concept owned and operated by the proprietor of the highly successful onsite Craft Street Kitchen, further solidifying an already eclectic restaurant component that includes Green Market Café, Ruby Tuesday, and long-time local favorite Eve’s Family Restaurant
  • New building facades, new signage throughout, roofing, paint, parking lots, parking lighting, landscaping, and awnings
  • A two-way ingress/egress drive via the Tampa Road signalized intersection

“Whether through new construction, lease extensions, lease amendments, or tenant relocations, we touched roughly 270,000 square feet — roughly 85 percent — at Woodlands as part of this extensive redevelopment,” says Jonathan Porter, VP-Asset Management & Finance for Ram Realty Advisors, the property owner. “The tenant mix takes advantage of our prime location; we are 96 percent occupied and we believe it is because of our commitment to transformative redevelopment of a center that was first constructed in 1987.

“Not only did we bring in new tenants that will help increase traffic and drive sales for the balance of the center, but we spent time and effort to take care of our existing tenancy, assuring residents of Oldsmar and the surrounding communities of a great destination for entertainment, dining, shopping, personal services, and more.”

“We can’t think of a better location in the area for us than Woodlands Square,” said Frank Scorpiniti, president and CEO of Earth Fare. “Oldsmar shoppers have welcomed us with open arms, and we’ve been honored to bring to them the broadest assortment of clean, healthy foods available anywhere these past several months. We look forward to continuing to serve our new friends and neighbors.”

Woodland Square is also home to other national tenants Anytime Fitness, Coast Dental, Fantastic Sam’s, Kids Park, Pinot’s Palette, and Salon Lofts. Local tenants include Janice Brand DDS, T&T Nails, Perfections Hair Salon, My Greek Corner, Richard’s Foodporium, Eve’s Florist, and Ruth Fashions.

Located 20 minutes northwest of downtown Tampa, in Pinellas County (the most popular destination on Florida’s Gulf of Mexico), this prime location boasts 78,000 VPD at the Tampa Road and Curlew Road intersection, and excellent target demographics for its tenants with an average household income of $81,199 and 73,548 residents (with projected growth of 3% by 2022) in a three-mile radius, and daytime employment of 34,167.

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ABOUT RAM

Founded in 1978, Ram Realty Advisors is an affiliated group of companies and partnerships that acquire and develop retail, multifamily, and mixed-use properties in select high-growth markets in the Southeast. The company capitalizes investments primarily with Ram-sponsored discretionary private equity funds. Since 1996, the company has deployed in excess of $2.5 billion of capital. Ram is headquartered in Palm Beach Gardens, Florida and has offices in Fort Lauderdale, Florida; Charlotte, North Carolina; and Durham, North Carolina.

Ram contact:

Jonathan Porter
Ram Realty Advisors
office: 561.282.4628

Media contact:

Kelly Owens
Alchemy Communications Group
office: 561.935.9953 x.101
mobile: 561.222.4958

  • Mar
    28

Ram Realty Advisors Strengthens Investment Management Team: Susan Swindell Carter Joins Ram as Executive Vice President of Investment Strategy

March 28, 2018

March 28, 2017

Susan Swindell Carter, Ram Realty AdvisorsCHAPEL HILL, NC – Susan Swindell Carter has joined Ram Realty Advisors as Executive Vice President, Investment Strategy. As part of the senior leadership team, she will immediately become a member of the firm’s Investment Committee. Her primary responsibility includes providing strategic direction for Ram’s investment strategy; Ms. Carter has been working with Ram’s asset management and investment teams as a consultant since early 2016.  She will be based in Chapel Hill, N.C. and will help the firm’s continued growth and expansion in North Carolina.

In conjunction with the recent appointment, Susan said: “I am looking forward to helping Ram’s continued development as an active real estate investor in the Southeast.  After more than two decades on the pension and endowment side, the time was right for me to join a firm with the right combination of entrepreneurial spirit and institutional process.”

Casey Cummings, Ram’s CEO, commented: “Our entire team is excited about Susan’s full-time role and deep involvement with investment strategy and risk analysis.  Her extensive experience as an institutional investor is invaluable as we continue to strengthen our investment management platform.  Our partners will see immediate value as Susan takes a leadership role in capital formation and investor relations.”

Prior to joining Ram, Ms. Carter was CEO of The Eastport Group, a real estate consulting firm she founded. She also served as the first Director of Real Estate for the North Carolina Retirement System (NCRS), where she created policy and built a successful $7 billion real estate portfolio. She started her investment career with Duke Management Company (DUMAC) where she served as the Director of Fixed Income and also of Real Estate. She serves as a Trustee of the Urban Land Institute (ULI) and is a past board member for Pension Real Estate Association (PREA).

About Ram:

Ram Realty Advisors (RRA) is an affiliate of Ram Realty Services, a fully integrated acquirer, developer and manager of retail and multifamily properties throughout the Southeast.  RRA is a registered investment advisor and invests primarily through a series of private equity real estate funds on behalf of institutions and high net worth families.  Since 1996, the Company has deployed in excess of $2.5 billion of capital.  Ram and its predecessor entities have been continuously investing in real estate since 1978.  The Company is headquartered in Palm Beach Gardens, Florida with offices in Ft. Lauderdale, FL and Charlotte, NC.  More information can be found at www.ramrealestate.com.

 

Ram Contact:
Jennifer S. Stull
Managing Director, Asset Management
O: 561-282-4609

Media Contact:
Kelly Owens
Alchemy Communications Group
O: 561.935.9953 x.101
M: 561.222.4958

  • Jan
    31

PALM BEACH GARDENS SHOPPERS ARE INVITED TO LIVE LONGER WITH EARTH FARE® THIS SPRING

January 31, 2018

January 31, 2018

ASHEVILLE, NC – Earth Fare, the authentic specialty organic and natural foods grocery store, proudly announces that it will bring healthier choices to Palm Beach Gardens when it opens this spring on PGA Boulevard, just west of Military Trail. The 24,000 square-foot store will be part of the Main Street at Midtown shopping center, located at 4801 PGA Boulevard. Earth Fare currently operates 46 stores in ten states, including eight locations across Florida.

“Earth Fare is the perfect addition to PGA Boulevard, which is one of the prominent east-west thoroughfares in Palm Beach County.  We wanted a specialty grocer that was going to respond to the wants and needs of the strong demographic profile of the surrounding residential communities,” said Jonathan Porter, Vice President and Asset Manager for Ram Realty Advisors.  “We couldn’t be happier to welcome our second Earth Fare development into our Ram-affiliated projects, and are especially excited that this store will be just steps away from our main corporate office.”

Earth Fare has established itself as a leader in the healthy foods grocery industry for more than 40 years by continually developing innovative programs and campaigns that make it easier for shoppers to take back control of their health through their food choices. Since its founding in 1975, Earth Fare has maintained a unique Food Philosophy that informs every product offered in the store. This Food Philosophy is exemplified by a rigorous set of Quality Standards, which ensures that all products sold are free of high fructose corn syrup, artificial fats and trans-fats, artificial colors, artificial preservatives, artificial sweeteners, bleached or bromated flour, and are never administered antibiotics or growth hormones. These ingredients and additives are outlined on Earth Fare’s pioneering Boot List.  Furthering this commitment to helping shoppers live healthier, happier, longer lives, Earth Fare last year offered to share its Boot List with any grocer interested in making the same commitment to transparency to its shoppers.

In addition, Earth Fare’s 750+ private brand products are all sourced using only non-GMO ingredients, and new products are being added to the shelves each day. This year, Earth Fare launched The Clean Plate, a quarterly in-store magazine that provides shoppers with scientifically backed information about why what we eat matters.

“Americans everywhere deserve a place where they can shop confidently, knowing that every product in their cart is free from harmful additives that we know are not conducive to a healthy lifestyle.” said Earth Fare president and CEO Frank Scorpiniti. “We are very proud to bring our unparalleled commitment to helping our shoppers live longer, healthier, happier lives to the Palm Beach Gardens community.”

Beyond groceries, the new store will also feature Earth Fare’s Heirloom Organic Juice Bar, which features 100% Certified Organic coffees, smoothies, and juices, including custom blends as well as convenient freshly prepared bottles for the person on-the-go. Shoppers will also find a wide variety of organic choices at Palm Beach Gardens Kitchen, featuring ready-to-go and prepared foods including the salad bar, hot foods bar, pizza station, sandwich counter, and conveniently packaged meals-on-the-go. Shoppers can enjoy a homemade meal without the work, whether dining in the indoor and outdoor 54-seat café with free Wi-Fi or taking it home.

Earth Fare will be the new anchor tenant of Main Street at Midtown, a 47-acre development that encompasses more than 96,000 square feet of retail, restaurant, and office space together with 225 luxury condominiums, a 500-seat cultural center, and a 300-seat banquet hall.

Learn more about Earth Fare’s fresh approach to improving lives through a healthier lifestyle at www.earthfare.com.

ABOUT EARTH FARE

Founded in 1975 in Asheville, North Carolina, Earth Fare is one of the largest natural and organic food retailers in the country, with 46 locations across 10 states in the Southeast, mid-Atlantic and Midwest. Their full-service philosophy incorporates the highest food Quality Standards in the industry with compelling value, friendly and knowledgeable service, and a superior shopping experience. It’s a philosophy that makes it easy to live a healthier lifestyle, every day.

Live Longer with Earth Fare®

 ABOUT RAM REALTY ADVISORS

Ram is an affiliated group of companies and partnerships that acquire, develop, manage and finance retail and multifamily properties in the Southeast. The group also selectively provides equity and acquires distressed debt. Since 1996 the Company has deployed in excess of $2.5 billion of capital.

  • Jan
    16

Ram Realty sells Raleigh apartments

January 16, 2017

By Amanda Hoyle via TBJ

A Florida real estate investment firm that’s actively been buying, selling and developing new properties across the Triangle the past year has sold its ownership in one of its largest properties in the Raleigh, the Apartments of Stonehenge on Creedmoor Road.

Real estate sources confirm that Chicago real estate investment firm Magnolia Capital has acquired from Ram Realty Services of Florida the 452-unit Stonehenge apartment community at a price of $56.7 million, or about $125,500 per unit. The deal will likely rank among the largest commercial real estate property sales in 2017.

Max Peek, CEO and managing principal of Magnolia Capital, stated in a release about the deal that he plans to continue renovations to the property started by Ram Realty in 2012. “The Apartments of Stonehenge represented an opportunity to invest in an attractive asset in a premier location,” Peek said in the release. “We have a high level of conviction in the Raleigh market going forward, and are excited to implement our business plan to further improve and modernize this community for the benefit of our residents.” Stonehenge is Magnolia Capital’s debut in the Raleigh market

The property was about 94 percent occupied at closing, according to the release.

Ram Realty had acquired Apartments of Stonehenge in 2012 for $40.2 million. Since that time it implemented about $2.5 million in improvements to the property, including an upgrade and rebranding of a 96-unit section with superior finishes now called The Reserve at Stonehenge.

Executive Voice: Ram Realty’s Casey Cummings continues aggressive push into North Carolina

The 46.6 acre property is located at 7303 Hihenge Court near the intersection of Creedmoor Road and Stonehenge Drive. It includes a two-story clubhouse with fitness center, and indoor basketball and racquetball court, three swimming pools, lighted tennis courts, a playground, fire pit, business center, and resident lounge with demo kitchen.

The HFF investment sales team representing the Ram in the deal was led by Jeff GlennJustin Good and Allan Lynch, all from the HFF Carolinas’ Raleigh office.

  • Dec
    5

Chapel Hill’s 140 West Franklin building sold

December 5, 2016

By Amanda Hoyle via Triangle Business Journal

The Florida-based developer of 140 West Franklin mixed-use building project that opened in 2013 in Chapel Hill has sold its last ownership in the commercial components of the building.

Ram Realty Services sold the building, according to county records, for nearly $9.9 million to a private equity firm affiliated with Charlotte-based Asana Partners. Asana Partners also acquired from Ram its ownership of the Design Center of the Carolinas in Charlotte, a deal valued at nearly $42 million.

In Chapel Hill, Asana’s acquisition includes the 26,000 square feet of ground floor retail and two levels of underground parking within the 8-story mixed-use building. The property also has 140 luxury condominiums (including 18 affording housing units) that were not included in the sale and a public plaza home to Exhale, a sculptural centerpiece that serves as a backdrop for local events. The project’s long-term ground lease with the town for the 1.73-acre lot has been transferred to the 140 West Franklin Condominium Association.

Ram CEO Casey Cummings in a statement about the deal said the project has motivated his firm to pursue other real estate opportunities in the Triangle. “140 West Franklin is the culmination of a decade of patience, careful capital management, and a focus on quality execution,” he stated. “We worked closely with the town and our institutional partners during the global financial crisis, and we’re delighted to have played a role in the continuing evolution of downtown Chapel Hill.”

In the Triangle, Ram Realty Services acquired in August the Village Plaza retail building in Chapel Hill and also owns the Apartments of Stonehenge in Raleigh and Pavilion East property in Durham, where it is building a 263-unit luxury apartment community on Erwin Road. The new apartments are expected to open in summer 2017.

  • Dec
    2

There’s a major new mixed-use development headed to South End

December 2, 2016

By Ely Portillo via The Charlotte Observer

When Florida-based Ram Realty Services sold the Design Center of the Carolinas for $42.7 million earlier this week, the company hung on to three acres of property around the South End center’s buildings.

Now, Ram Realty CEO Casey Cummings says the firm is focused on building a new, mixed-use development on the site, much of which is currently occupied by surface parking lots.

“Surface parking lots are really a waste of a valuable resource” in a dense, urban corridor, Cummings said. The land is along Camden Street, between Worthington Avenue and West Boulevard.

Asana Partners, the Charlotte-based company that bought the Design Center buildings, plans to convert much of the square footage to new shops and restaurants. Combined with the new Ram Realty development and other ongoing projects nearby, that whole stretch of South End will soon look much different.

Cummings, the Ram Realty CEO, said he hopes to start construction on the new mixed-use development in the second half of 2017. The details aren’t finalized, but a previously announced 150-room hotel developed in partnership with West Elm will be a key component of the project.

“We’re now turning to that,” Cummings said.

One reason the development is possible now: A new, 520-space parking deck for the Design Center is scheduled for completion in January. The parking deck was included in Asana’s purchase. That will free up the surface parking lots owned by Ram Realty, as well as provide additional parking for future development.

Cummings said the new development will include up to 300 units of multifamily housing, likely built in phases. The development will include a smaller amount of retail, perhaps 20,000 square feet, including a restaurant integrated into the hotel.

The office portion of the development will include “design-oriented” space and possibly some co-working locations, Cummings said. He pointed to 1616 Center, the five-story office building a block away by Beacon Partners, as a similar example of what his firm is trying to do.

“We’re likely going to do something of that scale, but more integrated into the mixed-use environment rather than a free-standing office building,” said Cummings.

He said Ram Realty will make sure the new development is integrated well with the existing historic structures and nearby mills of South End.

“In 50 years, it will look like it’s always been there,” said Cummings. The company is looking for more multifamily and mixed-use opportunities in Charlotte.

The Design Center used to be the Nebel Knitting Mill, which opened in 1927. The facility closed for good in 1989, and sat vacant until Tony Pressley of MECA acquired it in 1996 and turned it into creative office space.

“Development of The Design Center of the Carolinas was a labor of love for the entire MECA team and a catalyst for development in South End,” said Rob Pressley, president of Coldwell Banker Commercial MECA. Ram Realty bought the facility in 2007.

Now, Cummings said, the buildings are ready for their next phase.

“It’s really time for them to have another life,” he said.

  • Sep
    26

West Elm launching hotel in South End

September 26, 2016

By Ely Portillo via Charlotte Observer

West Elm – the furniture store – is launching a hotel in Charlotte.

Part of a national launch of boutique hotels, the company is coming to the Design Center of the Carolinas, in South End on Camden Road. West Elm is also launching hotels in Savannah, Minneapolis, Indianapolis and Detroit. They’ll open in late 2018.

The Charlotte hotel will include 150 rooms, a rooftop pool, meeting space, a restaurant, lounge and bar. A “community-inspired, locally sourced event” will be held at the hotel weekly, open to both local residents and hotel guests.

Ram Real Estate, which owns the Design Center, said the hotel will be new construction on the site. West Elm operates a furniture and home furnishings store nearby, in the Metropolitan complex.

“We’re excited that West Elm Hotel shares our vision for South End,” said Casey Cummings, Ram CEO, in a statement. “Our commitment to Charlotte has never been stronger and we look forward to collaborating with the entire West Elm team.”
The South End hotel will join a growing lineup of hotels under development outside of uptown but near center city. Kimpton is building a 128-room hotel on Worthington Avenue in Dilworth, and a 120-room hotel is planned at Kingston Avenue and South Tryon.

Opening a chain of hotels might seem like an odd move for a furniture seller. But West Elm said it’s interested in moving beyond furniture sales into a new market. The hotels will feature local design elements and cuisine, as well as locally commissioned artwork in each guest room and common areas. The furnishings and artwork will be available for guests to buy online as well.

West Elm said it was attracted to the warehouses, food trucks and local businesses in South End.

“After twenty-six consecutive quarters of double-digit comparative growth, including our successful entry into the commercial furnishings market with West Elm Workspace, we’ve created an active bond with our customers that can extend beyond home and work,” said Jim Brett, president of West Elm, in a statement. “By adapting the framework design of each hotel to reflect the mood and identity of its host city, we will continue to engage the adventurous spirit of our customers as they follow us to our next level of hospitality.”

Brooklyn-based West Elm is partnering with hotel operator DDK, which oversees a portfolio of 70 properties, on the West Elm Hotels project.

“There is a growing desire among modern travelers to immerse themselves in the place they are visiting. They want a boutique experience, and expect great, reliable service that caters to their needs,” said David Bowd, co-founder of DDK. “Our general managers will serve as innkeepers, and West Elm Hotels will focus on making real community connections for visitors and residents alike.”

  • Sep
    22

Multifamily Forecast: Stormy or Calm Seas

September 22, 2016

via DBR

Florida’s multifamily developers are shrinking units, inflating amenities and maneuvering around traditionally accepted parking requirements to keep rents high and building costs down in today’s pricey construction market.

“Units will get smaller,” said William Hamilton, executive vice president of Boston-based Winthrop Management. “And they have to be sexy.”

The major players shaping Florida’s multifamily arena gathered Thursday to forecast what’s in store for the rental realm over the next year. About 700 attendees were expected at the fifth annual Florida Multifamily Summit in Hollywood.

With construction costs at an all-time high and thousands of apartments under construction in South Florida, Art Falcone said lenders are pulling back in response. He is CEO and chairman of the Falcone Group and a principal of Miami Worldcenter Associates, which is developing a sprawling mixed-use project in downtown Miami.

“I will tell you that capital providers have pulled back dramatically so, on the condo side, that is drying up very quickly,” he said.

But the spigot is not completely off. Coincidentally, Boca Raton-based Banyan Commercial Capital LLC on Thursday announced the closing of a $38.8 million construction loan for the 250-unit Aura Seaside on the Intracoastal Waterway at 1400 Dixie Highway in Lantana by a subsidiary of Dallas-based Trinsic Residential Group L.P. The loan came from a bank group led by TD Bank N.A.

Banyan principal Michael Brown said the challenge in securing the loan was the timing. “Most construction lenders have reached their multifamily quotas for the cycle,” he said in a news release.

The statewide rental market, however, shows no signs of overbuilding, said Casey Cummings, CEO of Palm Beach Gardens-based Ram Realty Services. Most of the homes are under development in response to demand. Overall occupancy rates, especially in South Florida downtown markets, now stand at 95 percent to 96 percent, Cummings said.

While occupancy rates prove apartment demand is strong, rental growth is expected to slow over the next year, he said. Rents could rise 2 percent to 3 percent rather than the 5 percent to 8 percent annual hike seen over the last couple of years.

Peaking rental rates have catalyzed vigorous investment in South Florida’s apartment communities. Investors have poured nearly $4 billion into Miami-Dade County’s multifamily market over the last 12 months.

“Only recently did apartments become the darling of institutional capital,” Cummings said. “It wasn’t like that 15 years ago. It was office buildings and shopping centers. It feels good to be in this spot.”

The buyer pool for completed apartment assets has shrunk, however. Cummings characterized the next year as a “light chop with eight knots out of the east” in response to the title of the panel, “Stormy Water or Calm Seas?”

Falcone said South Florida is considered a top-tier market around the world.

“We’ll continue to be the safety deposit box for the world,” he said.

  • Sep
    6

New apartments on North Davidson St. breaking ground in November

September 6, 2016

via The Charlotte Observer by Ely Portillo

A joint venture of two development firms plans to start construction in November on a new apartment building and mixed-use development planned at 27th and North Davidson streets.

Florida-based Ram Realty and Charlotte-based CitiSculpt are partnering on the project, which will include 250 apartments in a new, five-story building and the renovation of an existing commercial building on the site, currently home to Free Range Brewing.

The companies purchased the 3.6-acre parcel of land for $4.95 million, in a deal that closed this week, according to real estate records. Capstone Apartment Partners brokered the sale.

The developers plan to open the new development in 2018. The apartments will be located two blocks from the 25th Street Blue Line light rail extension station, which is scheduled to begin service next summer.

“Our goal is to build a unique and attractive community that complements the vibrant character of the neighborhood,” said David Klepser, Ram’s lead developer on the deal, in a statement. “We’re exploring distinguishing architectural styles, industrial-modern finishes, and ways to integrate the new development with the existing commercial building.”

The apartment building will include studio, one-, two- and three-bedroom apartments and 2,000 square feet of retail space. Amenities at the project will include a pool, spa deck and a 24-hour gym. “The development’s primary draw is its location,” Ram said in a news release.

Interest in the area has “skyrocketed” since the Blue Line extension was announced, said Ram CEO Casey Cummings. There are now 1,573 new apartments under construction or planned along the Blue Line route between uptown and 36th Street, in neighborhoods including Villa Heights, Optimist Park and NoDa.

Ram and CitiSculpt both have developed other projects in Charlotte. Ram owns the Design Center of the Carolinas in South End and Rock Creek at Ballantyne Commons, and is a partner in Midtown 205, the apartment development at Kings Drive and Third Street. CitiSculpt, through its affiliate Southern Apartment Group, has developed or partnered on apartment projects in Dilworth, Mountain Island Lake, Ballantyne and West Morehead street.

  • Aug
    12

Trader Joe’s? Publix?: New construction and new market heading to Woodlands Square

August 12, 2016

via the Tampa Bay Times by Piper Castillo

OLDSMAR — Trader Joe’s? Safeway? Whole Foods Market?

Although the name has yet to be revealed, hurdles are being cleared to give Oldsmar a new place to load up on groceries. Although the specific store has not been identified, other facts have been disclosed, including the exact location. Its home will be Woodlands Square, right next to Beall’s.

The City Council recently approved a development agreement with Woodlands Square Community Reinvestment Partners allowing for the renovation of the shopping center at 3130 Tampa Road. The center, more than 30 years old, is about a half-mile from Canal Park and is most known for AMC Woodlands 20, a popular movie theater last renovated in 2000.

In front of the council, Mark Van Dyke, the director of development for Ram Realty Services, owner of Woodlands Square, reviewed the timeline for the project, with a goal of opening for business by September 2017.

“We are securing the grocery store,” he said. “We plan to start demolition right after the first of the year. We’ll get through the holiday season and will then commence on construction of the grocery store.”

Along with the mystery store, new construction of another retail space, totalling 10,500 square feet, is also planned. Brian Maloney, managing director of Ram Reality, said the standalone store will be at the center of the current parking lot and will serve as a connecting point. It will be a store where people will want to enter after leaving Beall’s, for example, shop through and exit towards Marshalls without having to walk too far.

“Right now there’s a lot of parking lot space, and this will be a store that moves people from one part of the shopping center to another easier,” he said.

To make way for new construction, a portion of the west side of Woodlands Square, with several vacant stores, will be torn down. Current tenants on the west side will be moved to another site on the property.

The project also includes updating storefront exteriors as well as renovating some of the interior of the movie theater, including widening the aisles.

Another highlight will be a constructed pathway with signage to improve pedestrian and bike access between Woodlands Square and Canal Park, with its BMX Supercross track and sports fields.

“The details haven’t been worked out yet, but the idea of including a walkway came about from the idea of connecting the community’s open space with the community’s shopping space,” Maloney said.