The center will be located at the southwest corner of Calloway and Olive drives on a 21.5-acre lot.
DCM Assets Management purchased the area back in 2008 but held off construction due to the market recession.
It is moving forward with the project, and negotiations with potential tenants are currently underway.
Eight to 10 large stores are expected to be built on this lot, along with some smaller retailers.
Cyrus Mojibi with DCM Assets Management said he could not confirm the exact names of the expected tenants but gave an idea of what people can expect.
"You'll see the typical things: grocery stores, fitness center, service station, maybe a car wash, bank, things like that," said Mojibi. "This is a project we've sat on for a while now, and it is nice to finally see some action on there."
Mojibi hopes to have the shopping center completed by early 2015.