Clay Terrace to open Friday

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Chris Proffitt/Eyewitness News North Bureau

Carmel, October 11, 2004 - The countdown to Clay Terrace begins.  The joint venture by the Simon and Lauth groups opens Friday, offering the newest concept in retail and the one-of-a-kind shops and restaurants that come with it.

Days before it opens to the public, workers place the final touches on Clay Terrace, the $100-million Carmel shopping project that developers say is everything a mall is not.
 
Eric Mallory of Lauth Property Group said Monday, "It had to be something different that stood out and was accepted by the community and also could stretch the imagination of everybody."

Clay Terrace stretches conventional wisdom on how people want to shop, not in climate-control, but outdoors, along a pedestrian-friendly main street with retro street lighting and bike paths running from the nearby Monon Trail.  The complex combines with 80-thousand square feet of office space.

Teree Bosso thinks "the open concept gives you a cobblestone atmosphere where you want to walk. It'll be nice to stroll with your family thru the streets."

The 577-thousand square foot center, anchored by sporting goods and electronics retailers, also introduces one-of-a-kind fashion retailers and restaurants.

Developers say when the ribbon is cut on Clay Terrace, the center will be 75-percent tenant occupied - soon-to-be 80 percent by the end of the year and full by spring. While Clay Terrace is expected to serve about 330,000 residents with an average household income of $102,000, it's hoped that the project become a regional draw in destination shopping.