Ground-breaking on the first phase is set tentatively for November 2001. The initial phase will include 250,000 sf of retail space; 100 apartments; 125 condos; 300 hotel rooms and 1,500 parking spaces. A 250,000-sf to 500,000-sf office building would be added in a later phase, but only if a tenant signs for at least 50% of the space.

"Retail development is at a crucial starting point," says LCOR vice president John Infantino. "The right mix of anchors can serve uptown workers and residents while creating a destination for visitors. In effect, this would form a foundation on which additional retail can build as new residents arrive."

Infantino is negotiating with four key anchor candidates. They are Oceanic Adventure of Cincinnati; Consolidated Theaters, a Charlotte-based chain that operates 60 screens in the Carolinas; Nobel Learning Communities, a national day-care-center chain based in Media, Pa.; and Carey Mitchell Design, a Charlotte custom tailor. Construction financing for the project is being worked out. Wall Street's Lehman Brothers is a part owner in the venture.