Village at Meridian developer borrows $150 million for retail construction

newsroom@idahostatesman.comMay 7, 2013 

U.S. Bank and Meridian CenterCal LLC closed on a $150 million construction loan for the Village at Meridian, they said Tuesday. The 827,196-square-foot retail center is under construction at North Eagle Road and East Fairview Avenue, near to the Julius M. Kleiner Memorial Park. Work is scheduled to end this fall.

The development includes Big Al’s Family Entertainment Center, Toys R' Us/Babies R’ Us, Marshalls, Gordmans, Petco, Nike Factory Outlet Store, Gap Outlet store, Chipotle, Noodles and Pacific Dental. The second phase of the project includes a multiplex theatre, Toby Keith’s I Love This Bar, Yard House, Chico’s, Axiom Fitness, White House/Black Market, SOMA, and Twigs Bistro and Martini Bar.

"The Treasure Valley is an important market for U.S. Bank, so we're thrilled to support such a transformative project for the region," said Tony Olbrich, regional president for U.S. Bank in Western Idaho/Eastern Oregon.

The $150 million loan for the Village at Meridian, which includes lenders PNC Bank and Bank of the West, replaces the $43.4 million loan U.S. Bank provided for the project's initial development phase.

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