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Mosaic, Merrifield, Va.

BY CSA STAFF

Edens will unveil Mosaic in fall 2012. The urban grid design mixing hotel, office and retail, Mosaic is a 31-acre mixed-use development located in the heart of Merrifield, Va.

Mosaic offers a wide variety of on-site amenities including a diverse offering of restaurants unique to the community, shops and large-scale retailers, specialty services and more, all within walking distance.

Phase I of Mosaic, scheduled to open in September 2012, will include 350,000 sq. ft. of retail, an eight-screen boutique cinema, a 150-room boutique hotel, 73,000 sq. ft. of Class A office space, a one acre park and LEED-certified buildings. The overall project will include 500,000 sq. ft. of retail, 1,000 residential units, a 150-room boutique hotel, 4,000 parking spaces (4 above grade parking garages) and two parks.

Key retail tenants at Mosaic include Target, MOM’s Organic Market, Angelika Film Center, Neiman Marcus Last Call Studio and Black’s Bar & Kitchen. Additional retailers thus far include Artisan Confections, Bellacara, Cava Mezze, Cyclone Anaya’s, Dolcezza, Red Apron Butchery, Dawn Price Baby, Eagle Bank, Matchbox, Black Restaurant Group, My Eye Dr., Lou Lou Boutique, Sweet Green, Taylor Gourmet, Paper Source and Hotel Sierra.

Development partners of Mosaic are AvalonBay, a 531-unit apartment building with 40,000 sq. ft. of first-floor retail on Parcel H; EYA, builder of approximately 112 luxury townhomes; and Lodgeworks, a 150 room boutique hotel, which will flag as Hyatt House.


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Kenneth Cole chair sees future in ‘going private’

BY CSA STAFF

NEW YORK — Kenneth Cole Productions’ board of directors has formed a special committee of independent directors to consider a non-binding proposal from Kenneth Cole, chairman and chief creative officer, that would take the company private.

The company announced Friday that its board of directors has received a non-binding proposal from Cole, who is the holder of approximately 47% of the company’s outstanding common stock (representing approximately 89% of the voting power), to acquire all of the outstanding shares of the company’s Class A common stock that he does not currently directly or indirectly own for $15 per share in cash.

In a letter to the board of directors, Cole explained why he thought private ownership was the best option for the company.

"The proposed transaction will ensure the company has the flexibility and structure to successfully navigate our market environment in the years to come. Recent market challenges have created a sharply competitive landscape, and I believe it is now more important than ever to embrace a more entrepreneurial perspective where we are all incentivized to grow and develop our company’s products, brand and business with a longer term perspective," said Cole. "I believe it is increasingly difficult to develop this type of culture in a public company context, where the public markets are increasingly focused on short-term results. I am convinced that private ownership is in the best interests of the business and the organization and that this proposal is in the best interests of the shareholders."

Kenneth Cole Productions’ special committee is comprised of all of the directors of the company other than Kenneth Cole and Paul Blum. The special committee is authorized to retain independent financial advisors and legal counsel to assist it in its work, the company reported.

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Babies”R”Us launches new loyalty card Babies ‘R’ Us launches new loyalty card

BY CSA STAFF

WAYNE, N.J. — Babies“R”Us launched the Very Important Baby (V.I.B.) program, designed to allow parents an opportunity to earn a 10% bonus savings on baby essentials.

The complimentary V.I.B. card is much like a debit card and can be used toward purchases of any brand of diapers, wipes, formula and baby food at “R” Us stores nationwide. Every time money is loaded onto the card, Babies “R” Us will add 10% – up to $200 annually.

Customers must be members of Rewards “R” Us, the company’s complimentary loyalty program, to take advantage of the V.I.B. program.

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