“We think it will be stabilized close to 60.”

In context

“get a more granular update on Phipps Plaza? The repositioning has been open for, I'd say most, or at least part of 4Q. So I guess how is it tracking versus plan? What changes in traffic are you seeing? Or any notable change of in-line rents? Any dates would be appreciated. And then I guess lastly, the project seems to have increased your plan for accelerating some other mixed-use endeavors, I guess, with Jamestown, any more information would be helpful. David Simon: Yes. So it really just opened. So the hotel opened at the end of October, November, but it's really new. The office -- literally, the first tenant just moved in January, mid-January. We just did a tour of that. We still have a lot of lease up. Just to give you a rough number, pre-investment, Phipps stood in the low 20s of NOI. We think it will be stabilized close to 60. And we'll have invested around $350 million in it over that period of time. So again, we don't -- we're a big company. We don't really get into like granular detail, but we basically increased the NOI by about $35 million. Remember, this was a Belk department store. So in the Belk department store, we couldn't lease up that wing. We now have a plaza that has been created external. We announced Hermès opening into the Plaza and part of the wing that really was difficult to lease with Belk as the anchor. We have an unbelievable Life Time resort. If you haven't seen what they build or their product, both with Life Time Work, the pool and the restaurants and the services and the salon and, obviously, all the fitness activities, I'd encourage you to do so. And we have a Class A plus office, th”