Two new "lifestyle centers" have been approved and are moving forward.
One is Orchard Park in Walker on the Northwest side, and features 240 acres and over 1.5 Million square feet of retail and residential development. Being developed by Trademark Properties of Houston, which has developed many similar village concepts in Texas, including Market Street at the Woodlands in suburban Houston. This is Trademark's first venture outside of their Southern region. They have teamed up with Urban Retail Properties of Chicago.
The development will be modeled after Market Street at the Woodlands, and will feature many new retailers to the Grand Rapids area, and some new to Michigan, including a possible Dillard's department store. Cabela's is also in negotiations with State officials to build in the development, as well as a hotel/indoor waterpark resort.

(Market Street at the Woodlands)
The other is the Village of Orchard Hills in Grand Rapids Township on the NE side, being developed by Robert Aikens & Associates of Birmingham, MI, BDR Development of Grand Rapids, and CBL & Associates of Tennessee.
The development will be modeled after the Village of Rochester Hills, and will also feature many new retailers to GR and some to Michigan, including: White House Black Market, H&M, Hollisters, Anthropologie, Brooks Brothers, Sephora, Stausburg Children, BCBG, Z Gallerie, Red Star Tavern, PF Chang's, as well as 40 other standard fair retailers like Banana Republic, Barnes & Noble and A&F. It will be anchored by a gourmet grocer and a boutique retailer.

(Village of Rochester Hills)
It's also rumored that both development teams are courting Nordstrom for both locations. But you know how rumors go.
Grand Rapids went from having only one regional mall 6 years ago, to having 4 regional retail centers in the next few years (1.4 Million SF Rivertown Crossings was built in 1999 on the SW side).
rbaikens.com
cblproperties.com
trademarkproperty.com
urbanretai.com
(not affiliated with either development)