Quarterly report pursuant to Section 13 or 15(d)

Developments of Consolidated Outlet Centers

v3.5.0.2
Developments of Consolidated Outlet Centers
 9 Months Ended
Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Developments of Consolidated Outlet Centers
Developments of Consolidated Outlet Centers

The table below sets forth our consolidated outlet centers under development as of September 30, 2016:
Project
Approximate square feet
(in 000's)
Costs Incurred to Date
(in millions)
Borrowed to date
(in millions)
Projected Opening
New development
 
 
 
 
Daytona Beach
352

$
67.4

$
—

November 2016
Fort Worth
352

13.9

—

Holiday 2017
 
 
 
 
 
Expansion
 
 
 
 
Lancaster
123

10.2

—

Q3 2017
 
 
 
 
 
Total
827

$
91.5

$
—

 

Daytona Beach

In November 2015, we purchased land for approximately $9.9 million and commenced construction on the development of a wholly-owned outlet center in Daytona Beach, Florida.

Fort Worth

In September 2016, we purchased land in the greater Fort Worth, Texas area for approximately $11.2 million and began construction immediately on the development of a wholly-owned outlet center. The outlet center will be located within the 279-acre Champions Circle mixed-use development adjacent to Texas Motor Speedway.

Lancaster Expansion
In July 2016, we commenced construction on a 123,000 square foot expansion of our outlet center in Lancaster, Pennsylvania.