Regency Properties, the Evansville, Indiana based commercial property developer and manager that owns and operates Savoy Plaza, announced the expansion which will include a new Schnucks Marketplace full service grocery store and several other new shops. Regency officials punctuated the announcement by using a "gold" bulldozer shovel, rather than a traditional gold hand shovel, to break ground at the site.

Jim Wittman, Regency Manager of Development, unveiled the design of the new construction which connects the two separate Savoy Plaza commercial buildings with a 58,000 square foot Schnucks Marketplace store and other new small shops. The first phase of the project makes additional retail space available to new tenants who wish to take advantage of the renovations and upgrades being planned at Savoy Plaza. The second phase of the project includes a new Buffalo Wild Wings restaurant, close to the Savoy 16 theaters.

Wittman introduced Ray Warren, Schnucks Division Manager, who announced that the new store is expected to open in May of 2007. Savoy Mayor Robert McCleary welcomed the expansion, citing the expanded tax revenues the new stores will bring to Savoy, "The new development has the potential of bringing over $25 million in annual sales, which eventually translates to a quarter of a million in sales tax revenues. We're delighted. I've worked with Regency Properties for 20 years, and I appreciate the quality of development and commitment to Savoy they've brought to Savoy. They've been great partners as we have grown our community."

Regency Properties' President and CEO, Jim McKinney spoke of the very long association the company has had with the community. "Dr. David Eades, who lives in Champaign and is a Regency partner, envisioned this shopping area with me over 30 years ago as we sat in his living room here in Illinois. What a tremendous thrill it is to see how this area has grown and developed."

Regency Properties develops and manages commercial properties in five states, specializing in bringing leading retailers and local services to shopping centers in mid-American county seat communities.

According to Schnucks' Warren, the new store will employ up to 200 people, and will include a pharmacy. St. Louis-based Schnuck Markets, Inc. owns 102 grocery stores in seven states. There are currently two Schnucks stores in the Champaign/Urbana area.