"If you're in a situation like Mr. Hale where you're an individual developer and trying to find financing, it's very difficult," he said.
The Main Street-style shopping center at Canton Crossing would include a 600,000-square-foot center to be anchored by Target, grocer Harris Teeter and a third large anchor, said Brian Gibbons, president of Greenberg Gibbons.
"We intend to move forward with the retail project," Gibbons said Tuesday.
Hale Properties has a contract with Exxon Mobil Corp. to purchase the land for the center to be anchored by Target and Harris Teeter.
The center is now expected to open by fall 2012 or spring 2013, Gibbons said.
However, plans for two large waterfront pavilions that would house offices and shops could be up in the air depending upon the ownership of the tower, he said.
It would be the first large retail project at Canton Crossing, which is slated to eventually include additional offices, residential towers and hotels.
Baltimore Sun reporter Lorraine Mirabella contributed to this article.
