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Caribbean Mall Breaks Ground

Mall of San Juan is project of Taubman Centers and New Century Development




Bloomfield Hills, Mich.-based Taubman Centers Inc. and New Century Development (Puerto Rico) are partnering on the 650,000-square-foot Mall of San Juan. The mall is expected to open in late 2014 and marks the island's first luxury retail development.

Located adjacent to the San Jose Lagoon at the south end of the Teodoro Moscoso Bridge, the $405 million, two-level upscale shopping center will feature the first Saks Fifth Avenue and Nordstrom in the Caribbean.

The shopping center is expected to generate sales of approximately $275 to $300 million with expected tax revenues in excess of $26 million.

Taubman will develop, lease and manage the shopping center, while New Century Development of Puerto Rico will also be constructing a 225-room hotel and casino adjoined to the mall.



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