Taubman Centers has poured $140 million into its luxury Oyster Bay, N.Y., shopping center since 1993 and expects to invest up to $500 million total if the project is approved by the Long Island town, said the company, which has been working on the center since 1993. Though the company is determined to open the center, some analysts are concerned about the project's impact on Taubman's bottom line.

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