The 10-year-old outlet center, located on 38 acres, will be renamed "Woodbury Crossings." The redevelopment will include: demolition of two buildings totaling about 124,000 sf located on the eastern edge of the property to make room for a new 160,000-sf Wal-Mart store; renovation and the upgrading of an existing 126,000-sf retail building on the western end of the property; extensive landscaping to the entire site; and a $2-million upgrade and widening of Hudson Road, including traffic signal installation, at the main entrance of the shopping center at Woodbury Drive to improve access to the site.

The Wal-Mart parcel also provides for a future 60,000-sf expansion. Demolition of the two buildings to make room for Wal-Mart will begin in early 2004. Construction on the renovated buildings will start as soon as weather permits next spring with completion scheduled for early 2005.

The existing retail building will be home to at least three new restaurants and about 20 retailers who, with the exception of the pre-existing tenant, Eddie Bauer, will all be new to the Woodbury area.