Group 1 - An apartment complex is under construction at the Annapolis Town Center, targeting residents aged 55 and up with a total of 175 units [3][4] - The property is being developed by Greystar, a residential developer managing $78 billion in assets, including over 1 million multifamily units [4] - The development will feature various amenities such as a library room, club room, fitness studio, pet spa, and a pool, spanning 2.17 acres [4][5] Group 2 - Leasing for the apartments is expected to begin in spring 2026, with the first units available in fall 2026 [6] - Greystar emphasizes the project's commitment to high-quality, thoughtfully designed communities that enhance the lifestyle of active adults [7]

Core Insights - The redevelopment plans for the Annapolis Mall, including the conversion of JCPenney and the opening of a charter school, have faced significant delays and challenges [1][7][13]. Group 1: JCPenney Developments - JCPenney has delayed its closure and is now negotiating a long-term lease at the Annapolis Mall, extending its operation through at least August 31 [3][10]. - The original plan to close JCPenney by May 16 has been halted, and the retailer is optimistic about reaching an agreement with the landlord [11][12]. - The mall's redevelopment proposal included converting JCPenney into multiple storefronts and a gym, but this plan is now on hold [8][9]. Group 2: Charter School Cancellation - The New Village Academy charter school has canceled its planned opening due to increased construction costs and federal funding cuts, which had already been delayed from an initial launch in August 2024 [7][13]. - A $5.8 million construction loan was required for the school, but construction costs rose by $900,000 due to tariffs and economic instability [14][15]. Group 3: Mall Ownership and Future Plans - The Annapolis Mall is under new ownership by Dallas-based Centennial, which is focusing on experiential businesses and luxury retailers [6]. - There are considerations for building housing outside the mall as part of its redevelopment strategy [6].