Regency Centers and CDC Houston Announce a Joint Venture to Develop a Kroger-Anchored Retail Development in Springwoods Village

HOUSTON--(BUSINESS WIRE)--

Regency Centers Corporation, ("Regency") a national owner, operator, and developer of grocery-anchored shopping centers, today announced the formation of a joint venture with CDC Houston to develop, own and manage The Market at Springwoods Village. The 170,000 square foot LEED Silver-seeking project is expected to open in the spring of 2017 and will be the first grocery-anchored development in Springwoods Village, the master-planned mixed-use community that is home to ExxonMobil's new corporate campus, Southwestern Energy's headquarters and the CHI St. Luke's Medical Campus.

Located at the intersection of Holzwarth Road and the Grand Parkway, The Market at Springwoods Village site lends itself to become a regional destination while serving the large corporate campuses and desirable residential neighborhoods of Springwoods Village. The carefully selected mix of retail, dining, and grocery services will meet the needs of many residents, employees, visitors and businesses in Springwoods Village and the surrounding area.

"We couldn't be more pleased to announce our latest development, The Market at Springwoods Village. Our center will serve world-class corporate campuses and the community's expanding residential population with best-in-class retailers, oversized patios, mature landscaping and convenient parking," said Abe Pacetti, Vice President of Investments for Regency Centers. "We're very excited about becoming long-term citizens of such a fabulous master-planned community and continuing to expand our presence in Houston through the development of quality shopping centers."

Anchored by a Kroger, The Market at Springwoods Village will be a destination for a premier grocery shopping experience. Measuring 100,000 square feet, the Kroger will create more than 300 new career opportunities, including hourly, management and leadership positions. The Texas-sized store will offer pharmacy and fuel services along with locally grown fruits and vegetables, fresh meat and seafood, organic choices, specialty cheeses, international fares, chef-prepared meals, artisan breads, and premium wine and craft beer.

"The Market at Springwoods Village will add important shopping and dining amenities," said Keith Simon, Executive Vice President and Director of Development for CDC Houston. "Its location serves not only Springwoods Village but the larger Spring community and will enhance the entire area's quality of life. This announcement and the recent opening of the CHI St. Luke's Springwoods Village Hospital are providing exciting momentum to start 2016 and move us closer to our goal of creating a ‘Complete Community'."

Springwoods Village is a $10-billion, 1,800-acre, mixed-use community situated along the west side of Interstate 45 between Springwoods Village Parkway and the Grand Parkway. Designed for sustainability, the nature-inspired residential and commercial community will provide diverse housing options, civic facilities, outdoor recreation and a 60-acre CityPlace with office space, shopping, dining and lodging in an urban, walkable environment.

The Market at Springwoods Village is scheduled to break ground in March of 2016, and open in the spring of 2017. Additional tenant announcements will be made as they become available. For property and leasing information, contact Vanessa Barfuss at vanessabarfuss@regencycenters.com.

About Kroger (Dallas and Houston Divisions)

Kroger operates 218 stores, 209 pharmacies and 139 fuel centers in Texas and Louisiana and is part of one of the world's largest grocery retailers serving customers in 35 states with 2,774 stores. For more than 125 years, Kroger has emphasized a customer-first approach to providing quality products, value pricing, outstanding service and an exceptional shopping experience. Headquartered in Cincinnati, Ohio, the grocery retailer is dedicated to making a difference in the communities it serves by supporting hunger relief, education, health and wellness, military families and diversity programs. Resulting from the retailer's philanthropic commitment, Forbes magazine lists Kroger as the most generous company in America. For more information about Kroger, download the free Kroger Mobile App or connect on kroger.com, Facebook, Twitter or Instagram.

About CDC Houston

CDC Houston, Inc. (a subsidiary of Coventry Development Corporation (New York) is an experienced land developer with expertise in creating mixed-use urban communities that foster smart and responsible growth for commercial and residential vitality. Coventry has provided development services for mixed-use projects in New York, Colorado, Texas and Guam over its 45-year history. In 2001, the company launched RidgeGate, also a sustainable, mixed-use community, in Lone Tree, Colorado which consists of 3,500 acres. For more information on CDC Houston, Inc.'s latest project, Springwoods Village, please visit: www.springwoodsvillage.com and connect on Facebook and Twitter.

About Regency Centers Corporation REG

With more than 50 years of experience, Regency is the preeminent national owner, operator, and developer of high-quality, grocery-anchored neighborhood and community shopping centers. The Company's portfolio of 318 retail properties encompasses over 42.8 million square feet located in top markets throughout the United States, including co-investment partnerships. Regency has developed 221 shopping centers since 2000, representing an investment at completion of more than $3 billion. Operating as a fully integrated real estate company, Regency is a qualified real estate investment trust that is self-administered and self-managed.

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