The brand new Towne Centre Laurel development has now been formally opened in Laurel, Maryland.
The $130 million complex sites on a 400,000 square foot site at the former Laurel mill, on Route 1.
The local community has been waiting since 2006 for a new development on the site. What they now have is a shopping center where the key brands are Regal Cinema, Burlington Coat Factory, Old Navy and Sporty Authority. There is also the first Harris Teeter in all of Prince George’s County at the new shopping complex.
22,000 New Jobs to be Created
The development was run by Maryland based property firm Greenberg Gibbons. They expect that the work will eventually bring around 22.000 new jobs to the city. Craig Moe is the mayor of Laurel and he said that the new Town Centre development is a “vibrant mixed use town center”. He stated that that he can see a lot of positive effects on the city happening because it has been built. The mayor went on to say that the revitalizing of this property is a sign of a “major rebirth of Laurel’s city center”.
While some of the stores and the cinema are now open for business, the center isn’t yet fully open to the public. Tom Fitzpatrick is the president of Greenberg Gibbons and he said that it is currently 85% leased and 70% open. There are still a couple of buildings undergoing construction work and it should be fully completed by the spring of 2015.
Fitzpatrick also pointed out that the open air style of the mall they designed is more viable than an enclosed type of shopping complex would have been. In fact, he said that it was already a “premier location” and that what they have created is “what people want today”.