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Leasing Slump Lands $350M Rouse Dev. on Back Burner

ATLANTA-The Columbia, MD-based developer, shooting for a late 2003 ground-breaking, is delaying for six months to a year the construction start of the 1.4-million-sf, open-air regional mall in Forsyth County.

By Alex Finkelstein | Updated on February 18, 2003

ATLANTA-Coming as no surprise to the department store segment of the retail industry, Rouse Co. of Columbia, MD is postponing the construction start of Forsyth Commons, a planned $350 million, 1.4-million-sf, open-air regional mall in Forsyth County, 35 minutes from Downtown Atlanta.

Rouse officials confirm they are delaying a ground-breaking for six months to a year because of a sluggish leasing environment. The expected opening is 2006. Only Dallas-based Neiman Marcus has signed on as the project’s lead anchor with a proposed 120,000-sf store.

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