The joint developers didn't disclose the estimated hard construction cost of the project. But area construction industry estimators tell GlobeSt.com on condition of anonymity the project will come in at about $240 million or $200 per sf.

That figure would be near the $250 million construction cost ($192 per sf) Taubman and Michigan-based Forbes Co. are jointly investing in their 1.3-million-sf Mall at Millennia in south Orlando, scheduled to open in October.

When completed, Taubman will own the Charlotte property 100%. Faison will direct the project through the zoning and approval processes, working on the roads and infrastructure buildout and developing adjacent retail pad sites for re-sale.