"For our company, this project has been five years in the making," Brian Gibbons, president and chief executive officer of Parole developer Greenberg Gibbons Commercial, said to about 600 VIP guests during a center preview party Tuesday.

"For so many years this property sat as an eyesore and a real blight to this community. It's really been a symbol of failed promises. So many people said it could never get done. And today, here we are."

The new 32-acre development is located at the intersection of Route 2 and Forest Drive on the former site of the defunct Parole Plaza.

Currently, a 170,000-square-foot Target store and three specialty shops are open for business.

Great Gatherings, which has a store in Gainesville, Va., debuts in Annapolis with its second store featuring a 17,000-square-foot showroom that holds more than 14 gaming room collections, entertainment furnishings and more than 140 bar stools.

A Coldwater Creek store offering upscale women's clothing is also open in an 8,534-square-foot shop.

And a Lucy Activewear store, housed in a 2,037-square-foot space, offers workout clothing and accessories.

By Thanksgiving, shoppers will find a batch of about 20 specialty retailers and restaurants, including P.F. Chang's China Bistro, Gordon Biersch Brewery Restaurant, Anthropologie, Smyth Jewelers, BankAnnapolis and J. Jill.

And by next year, the complex will welcome a 70,000-square-foot Whole Foods, a Bed Bath & Beyond anchor store, Brooks Brothers, Brio Tuscan Grille, 24-Hour Fitness, Urban Chic and White House/Black Market.

Annapolis resident Diann Turner, who frequently shops at Talbots across from the Westfield Annapolis mall and at Chico's in downtown Annapolis, said she's excited about the center's new specialty shops such as J. Jill.

"From a shopping standpoint, I'm delighted they are over here," she said.

As the retail component of Parole fills, the development will be bustling with 150 condos housed in a 12-story building and 208 apartments, Greenberg officials said. They expect construction on the center's 42,000 square feet of office space to also be complete by spring.

Greenberg officials said future phases will include more residential, retail and office space.

Mike DeStefano, president of Sturbridge Homes, the condo builder, said GrandView will be ready for homeowners around March or April.

Mr. DeStefano declined to comment on how many GrandView homes are under contract, but said the condo prices still range from roughly $400,000 to $2 million each. He told The Capital in March that 63 condos had been sold so far.

"Sales and traffic continue to be very strong in a challenging market," he said.

The luxury apartment building called Mariner Bay is being developed, built and managed by The Bozzuto Group of Greenbelt, said Lauren McDonald, company spokesman.

Pre-leasing will begin in January and the first units will be ready for occupancy in March, she said.

Ms. McDonald said her firm hasn't set rent prices for Mariner Bay yet. But the apartments will be priced "relative of the convenient location and luxury finishes and amenities" of the Parole center.

In addition to becoming a new place to live and shop, the center will become a new economic force in a tough market. Greenberg officials said the center will employ 3,000 people and generate $300 million in sales annually.

"It's a booster shot for our economy," County Executive John R. Leopold said during the VIP ceremony Tuesday.

Greenberg Gibbons overcame several challenges to complete the project, including investing in a $5 million stormwater management system as well as a $6 million environmental cleanup effort.

At the VIP ceremony Tuesday, company Chairman Erwin L. Greenberg said the goal was to create a vibrant community town center and a unique kind of development.

"This mixed-use center is exactly that kind of project, where everything is integrated, where you can live, work, shop and play," he said.