INDIANAPOLIS — Indianapolis-based mall owner Simon Property Group (NYSE: SPG) has unveiled plans to invest more than $250 million for the redevelopment of The Mall at Green Hills in Nashville, Cherry Creek Shopping Center in Denver and International Plaza in Tampa.
Simon acquired the three properties in November 2025 as part of its purchase of the remaining 12 percent interest in The Taubman Realty Group LP that it did not already own.
The $250 million investment reflects Simon’s focus on mall redevelopments to create modern environments that cater to today’s shopper, according to Eli Simon, the company’s chief operating officer. He says the redevelopment projects will mimic the recently completed transformation of Southdale Center in Minneapolis.
The Mall at Green Hills will undergo a complete transformation and exterior revitalization featuring two-story flagship entrances, jewel-box spaces for luxury boutiques, new landscaping and “elevated arrival moments.” The interior will receive upscale finishes and architectural enhancements. The 1 million-square-foot mall opened in 1955 under the moniker Green Hills Village.
Cherry Creek Shopping Center will receive modernized flagship spaces, refined architectural updates and upgraded storefronts. The enclosed mall, which officially opened in 1990, dates back to the 1950s when it was an open-air mall.
Updates to International Plaza, which opened in 2001, will include a 50,000-square-foot, open-air exterior expansion that will create a walkable outdoor shopping experience. A reimagined Bay Street will include an enhanced al fresco dining and gathering area. Plans call for new design finishes, upgraded amenities and “curated hospitality experiences.”
“These centers are already top retail destinations in the country,” says Eric Sadi, co-president of North American Real Estate for Simon. “Our focus is on sharpening their differentiation — through flagship opportunities, elevated design, enhancing the overall guest experience and creating premier environments where the world’s most sought-after brands can thrive.”
Construction is expected to begin this year, with tenant announcements to follow.
Simon is a real estate investment trust (REIT) that owns shopping, dining, entertainment and mixed-use properties across North America, Europe and Asia. The company’s stock price opened at $190.60 per share Wednesday, Feb. 4, up from $173.35 per share one year ago.
— Kristin Harlow