Property Development Centers Plans a New Retail Center at Steiner Ranch

Property Development Centers (PDC), a wholly owned subsidiary of Safeway Inc., announced today that it plans to acquire nearly 61 acres in the Lake Travis area of Austin, Texas to develop a 163,027 square foot mixed use shopping center, anchored by a new Randalls supermarket. Construction is slated to start this fall with an opening in 2011.

Located at the entrance to Steiner Ranch, the center is at the southwest corner of RM Highway 620 and Quinlan Park Road in Austin, Texas. Steiner Ranch, an upscale planned community of over 4,000 existing single-family homes and apartment units, was developed by Taylor Woodrow Communities/Steiner Ranch, Ltd. in partnership with the Kucera Companies.

While the majority of the 61 acres being acquired will remain undisturbed and in its natural condition, the Randalls-anchored shopping center will sit on approximately 15 acres and will include a bank, several restaurants, a variety of retail shops and a medical/office building. "We are excited to begin this project and bring to the people of Austin’s Lake Travis and Steiner Ranch area a superior shopping experience, convenience and retail variety that they need and deserve,” said David Zylstra, COO of PDC.

The Randalls store at Steiner Ranch will be over 60,000 square feet and will feature full-service seafood, meat and deli departments, as well as a full-service bakery, and a Starbucks. The store will also have expanded organic and conventional produce departments, expanded beer and wine selections and a full-service pharmacy.

"This is going to be a special store with a broad range of products and services tailored to the tastes and needs of the Steiner Ranch community,” said Randalls Food and Drug President, Tom Schwilke. "We have been serving the Austin market continuously for nearly 40 years, and we look forward to extending that record through this important project.”

ABOUT PROPERTY DEVELOPMENT CENTERS

Property Development Centers is a national shopping center development company developing centers for and with Safeway as one of the major anchor tenants. PDC is a wholly owned subsidiary of Safeway Inc., a Fortune 100 company and one of the largest food and drug retailers in North America, based on sales. Safeway Inc. operates 1,725 stores in the United States and western Canada and had annual sales of $40.8 billion in 2009. The company’s common stock is traded on the New York Stock Exchange under the symbol SWY.