(Ian Ritter is national online editor for GlobeSt.com/RETAIL.)

INDIANAPOLIS-Simon Property Group has $6.9 billion worth of developments and redevelopments in its pipeline that are scheduled to be completed between next year and 2010. Simon's share of the total cost comes to $4.7 billion, while partners of the company will pay for the remainder.

Most of those costs will go toward mall redevelopments, totaling $1.6 billion. On the new development front, the biggest chunk of expense, $700 million, goes toward the construction of open-air lifestyle centers. Meanwhile, as the firm increasingly adds non-retail uses to its malls, $650 million of future projects are residential, office, hotel and other components to centers.

This year the company is on track to open three developments, the 1.2-million-sf Coconut Point, an open-air center in Estero, FL; and two outlet centers, the 433,000-sf Round Rock Premium Outlets in Texas and the 404,000-sf Rio Grande Valley Premium Outlets, in Mercedes, TX. Two more centers, both open air, are slated to open next year so far.