A LASTING LEGACY
May 1, 2008 12:00 PM, Chuck Green
Citing a retail void in the market, WS Development, in conjunction with National Amusements, in April began construction of Legacy Place, a 675,000-square-foot open-air shopping center in Dedham, Mass., featuring more than 60 fashion, restaurant and entertainment tenants. Located at the intersection of Route 1 and I-95, Legacy Place will also serve as the new corporate headquarters for National Amusements, one of the country's largest movie theater chains.
The $200 million project, scheduled for completion in the summer of 2009, is 90 percent leased. Legacy Place is “right in the bull's eye of where we wanted to be,” says Jeremy Sclar, president of Chestnut Mill, Mass.-based WS Development. The property includes an existing National Amusements theater and was originally the site of a drive-in theater, notes Sclar.
Whole Foods Market will occupy a 60,000-square-foot space, while L.L. Bean will have 30,000 square feet spread over two levels. Showcase Cinema de Lux, National Amusements' high-end entertainment concept, will feature 15 screens and 3,400 seats.
The area's demographics also helped lure the development team, says a spokesperson for National Amusements. Dedham has a strong trade area consisting of more than 300,000 people with an average household income of over $100,000.
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