The Casino Reinvestment Development Authority partnered with the Cordish Company to develop, lease and manage the third phase of development at The Walk – a dynamic urban retail and entertainment project, featuring nationally recognized factory outlet retailers, along Michigan Ave., Arkansas Ave., and Christopher Columbus Blvd. Phase III retailers at the Walk include: Puma, Zumies, Aerosoles, Coach Men’s, Chico’s, Toys R Us Outlet, Charlotte Russe, Colombia Sportswear, and HANESbrand.
Phase III comprised of 45,078 square feet of factory outlet retail on Block 336 (Christopher Columbus Boulevard and Fairmount, Mississippi and Arctic Avenues). It fronts Christopher Columbus Boulevard and is adjacent to the CRDA’s new parking garage.
CRDA provided a $9 million loan to Cordish towards the $15 million development costs for the construction of Phase III. The balance of the costs was funded by Cordish as the developer’s equity contribution to the project.
The CRDA and The Cordish Company have been partners on the successful development of Phases I & II of the Walk’s shopping district in the entry corridor at the foot of the Atlantic City Expressway since April 2000.
In July 2011, The Cordish Company sold controlling interest of The Walk to Tanger Outlets, the country’s second largest developer and operator.