Brixton Capital, a real estate investment firm and owner of Provo Towne Centre mall, announced Tuesday that it will invest up to $80 million in the repositioning of Provo Towne Centre as a lifestyle destination.
The 800,000-square-foot project will feature a 30,000-square-foot dining district, a 50,000-square-foot anchor tenant opportunity, an outdoor park, two 6,000-square-foot restaurants, a 100,000-square-foot office tower and 200 contemporary residential units.
Brixton officials said the project will be completed in phases to minimize the impact to the community. The first phase is already underway with a 100-room Marriott Residence Inn and conference center opening in early summer 2018. Additional phases of development are scheduled to begin after the 2017 holiday season.
“Our plans for Provo Towne Centre have been met with excitement, renewed interest and many positive comments from the entire Provo community,” said Travis King, CEO of Brixton Capital.
The Sears store at Provo Towne Centre will close in August, but Brixton executives say the Provo Town Centre will “embrace change and create new experiences, while at the same time, meet the needs of today’s increasingly sophisticated shopper.” Enhancements to the existing facilities will include a redesigned entry, modern dining district, new entertainment options, an all season outdoor park and additional new residential, office and hotel opportunities.
“With the growth in South Provo and Southern Utah County, this is an ideal time to bring new and compelling uses to Provo Towne Centre,” said Joe Cooley, principal broker at Mountain West Commercial Real Estate. Mountain West Commercial Real Estate has been chosen as the exclusive broker for the Sears building redevelopment at the center.
For more information and construction updates, visit the Provo Towne Centre’s website at www.provotownecentre.com.