The Boulevard at Capital Centre shopping center is coming down to make way for Carillon, a new lifestyle-oriented mixed-use development in the vein of Mosaic District or Pike & Rose.
Demolition of 290,000 square feet of existing retail space at the site began earlier in July, owner Retail Properties of America Inc.’s Chief Operating Officer Shane Garrison said on its second quarter earnings call. The Oak Brook, Illinois developer is planning a 1.2 million-square-foot, phased development at the site, with the first phase to include a medical office building, a 350-unit residential building, two retail buildings and a 1-acre public park.
RPAI (NYSE: RPAI), which mainly focuses on retail development, has formed a joint venture with Trammell Crow on the medical office building and with Fore Property Group on the residential building. RPAI hopes to begin foundation work on the residential building in December.
Similarly, the company hopes to begin foundation work on the retail portion in spring 2020. That project will feature a new AMC IMAX movie theater above parking, with ground-floor retail spaces for retailers and restaurants, and a standalone restaurant building facing the new park.