I'm not sure if this report is accurate, GCT has approximately 150K of commercial real estate with in-place leases expiring through 2012. The rumor says the store would open in the fall which is far too soon. The work it would require to build-out the space for Apple would take 4-6 months alone let alone the buying out of existing tenants and the necessary approvals necessary to build in a historical building. I'd be surprised to see this opening in 2011.
If it does, would be great since I work across the street!