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Michaels, Ulta, Old Navy, Loft coming to Canton Crossing

The long-awaited Shops at Canton Crossing development on the waterfront will boast a Target, Old Navy, Harris Teeter and Jimmy John’s sandwich shop, among other businesses, when it opens in October.

Owners BCP Investors LLC — which includes principals of 28 Walker Associates, Chesapeake Real Estate Group and Birchwood Capital Partners — said the development is 95 percent leased.

“We are very pleased with the tenant mix,” said Neil Tucker, an executive at Chesapeake Real Estate Group. “Several of the retailers will have either their first or second store in Baltimore city.

“It will greatly improve the shopping offerings in the inner core of Baltimore city,” Tucker said.

Also signing leases are retailers Michael’s, Ulta, 5 Below, Loft, BB&T Bank, the Vitamin Shoppe, Nail Trix and Fresh Cleaners. Restaurants include the second branch of one of Greektown’s most famous eateries, Samos, and Yogi Castle.

The site is located less than a mile from Interstate 95 and is a former Exxon Mobil terminal. Plans for redevelopment were first formulated by former First Mariner Bank Chairman Ed Hale, but the project was derailed by financial woes and the recession.

Today, construction crews are working round the clock to prepare to begin construction of the 325,000-square-foot retail center this spring.

David Strouse, a partner in BCP, said the project will be financed with a $44 million financing package from PNC Bank.

Target signed a lease for a 135,000-square-foot store at the site in December. It will be the second site for the large retailer in the city and is expected to attract 200 new jobs to the area.