Kimco Realty Corp. plans to develop a new roughly $108 million open-air shopping center at the site of the former Owings Mills Mall in Baltimore County.
The 575,000-square-foot Kimco Signature Series ground-up development will be anchored by Costco, which will open a 148,000-square-foot warehouse club at the location.
The destination will include up to 30 national, regional and local retailers and restaurants along with parking, green space and walkways. The company is in negotiations with other retailers to occupy a total of 350,000 square feet. An existing AMC Theatre at the site will by modernized.
Kimco and GGP Inc., formerly known as General Growth Properties, formed a joint venture for the redevelopment of the mall in 2011. Kimco then bought out GGP in January 2016.
Construction is expected to commence in early 2018, with completion expected in early 2019.