King of Prussia, Pa. -- O’Neill Properties Group announced that Bass Pro Shops has signed a letter of intent for a 200,000-sq.-ft. store at The Point, in Sayreville, N.J., one of the largest new mixed use developments in the United States.
When completed, the Point will encompass 8 million sq. ft., and include a 3 million-sq.-ft. mall and entertainment district with luxury retail, waterfront and recreation destinations, high-end residential units, high-end hotels and two luxury marinas.
It will also feature waterfront dining, a community center, bike trails, walking paths, and abundant green and open space including a waterfront promenade. The estimated development cost for the project is approximately $2 billion.
“The Point will be a pedestrian friendly community providing visitors and residents alike with a lifestyle experience unequaled in the Tri-State area,” stated Brian O’Neill, founder and chairman of O’Neill Properties Group. “Moreover, it will generate thousands of jobs and millions of dollars in new tax revenue.”
The Landing at The Point, the first phase of the project’s development, will be a 620,000-sq-ft. high-end multi-purpose retail center that will include several big-box stores, a supermarket, health club and entertainment destinations. The first retail tenant is expected onsite in 2013.