Simon, Tanger plan outlet centers in Charlotte
Published: October 21, 2012
Time posted: 10:37 am
CHARLOTTE — In back-to-back announcements last week, two companies said they plan to open outlet malls in Charlotte along Interstate 485.
First, on Wednesday, Greensboro-based Tanger Factory Outlet Centers announced that it wants to build a 350,000-square-foot outlet center in southwest Charlotte, at the I-485 and Steele Creek Road interchange. According to the company, it plans to expand the center by 50,000, but it did not say when that might happen.
Then, on Wednesday, Indianapolis-based Simon Property Group and Baltimore-based Paragon Outlet Partners said they have signed a letter of intent to jointly develop Charlotte Premium Outlets, a 400,000-square-foot outlet center planned for Stallings, at I-485 and Idlewild Road.
Both projects are expected to open in 2014, and they will feature roughly the same number of stores, according to press releases from Simon and Tanger.
Tanger said its center would be home to 90 brand name and designer outlet stores. Simon said its center would feature 100 designer and name brand stores.
Tanger called the Steele Creek outlet center a roughly $80 million project. The company said it expects approximately 300 jobs to be created during construction.
Simon, in its press release, did not provide project costs or the number of construction jobs.
Simon owns Concord Mills mall in Concord and SouthPark Mall in Charlotte.
Tanger said the new Charlotte outlet would be the company’s fourth outlet center in North Carolina. Its other are in Blowing Rock, the Outer Banks area and Mebane.