Phase II of the Oxford Galleria shopping center extension is set to begin this fall, developer John Trezevant has disclosed exclusively to HottyToddy.com.
The grand opening for the new complex will take place in the fall of 2015.
Under the ownership of Trezevant and the Davis Family Trust of Oxford, the $35 million, 20-acre project will encompass 225,000 square feet of new shoppes, restaurants, entertainment outlets, a hotel, national merchandizers and several industry leading big-box stores. The construction area will be north of Jackson near the current Galleria shopping center bounded on the west by the West Oxford Loop.
Taken together, Oxford Marketplace (The Walmart Center), Oxford Galleria I and now II combined with the adjacent Home Depot and Office Depot, banks and enterprises, comprise about 1 million square feet and are valued in excess of $150 million-$200 million.
“The political leadership in Oxford is very business friendly and supportive of this project,” said John Trezevant, the developer behind the Galleria Phase I and the Walmart project on West Jackson 12 years ago that developed 350,000 square feet. “We intended to begin Galleria Phase II four years ago, but the bad economy wouldn’t support the project. We now feel all the right elements are in place to begin moving dirt and make this vision a reality.”
Architect on the project is Kui Meu Wong, who was also the architect on the Galleria Phase I. The engineer is Jeff Williams of Engineering of Oxford with development, leasing and asset management handled by Trezevant Reality Corporation.
“We’re excited to begin marketing the project,” explained Trezevant. “Many lots will be pre-leased so we’ll soon know who those major retailers will be (HottyToddy.com will post that information as soon as possible.) as well as some of the restaurants and the hotel chain that will be part of the project. Five out-parcel lots will offer prime locations for restaurants and a hotel. Together with larger department stores, boutiques and other stores, Trezevant says thousands of jobs could be added to the Oxford economy.
“Many of these will be great jobs for students,” he added. “In the past the population of Oxford has typically receded in the summer but we think this project could attract many students to stay in town.”
Building Galleria II by itself will support significant job growth in Oxford, including construction positions, electricians, landscapers, plumbers and other skilled tradesman and workers.
The new shopping area will be accessible through Jackson and the current Home Depot Drive. A frontage road is being built tying Home Depot Drive to West Oxford Loop. Eventually, the plan is to extend Highway 314 to connect to the West Oxford Loop and create a road system that can unite all the neighborhoods north of FNC Park.
-Andy Knef is HottyToddy.com editor. Photo by Ed Meek