O&S, STRATEGIC RETAIL RECEIVE APPROVAL FOR $1 BILLION MIXED-USE PROJECT

JOLIET, ILL. — Los Angeles-based O&S Holdings and Hollywood, Fla.-based Strategic Retail Development have received unanimous approval from the Joliet City Council for the development of Bridge Street Town Centre, a 314-acre, 3.5 million-square-foot mixed-use development to be located at the intersection of interstates 55 and 80, and Route 59. The nearly $1 billion project, which is scheduled to break ground in early 2009, will comprise approximately 1.7 million square feet of retail and restaurant space; 96,000 square feet of Class A office space, including some offices above retail; a 66,000-square-foot upscale movie theater; at least two hotels and a variety of residential units. O&S will be handling retail leasing for the project, along with Strategic Retail and the Chicago office of CB Richard Ellis. Baltimore-based Development Design Group is designing the project, with Chicago-based OWP/P serving as the architect and engineer of record. Completion is scheduled for 2010.