SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 8-K

CURRENT REPORT


PURSUANT TO SECTION 13 OR 15 (d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (date of earliest event reported)    March 3, 2003

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                  CHELSEA PROPERTY GROUP, INC.                  
(Exact name of registrant as specified in its charter)

Maryland             (State or other jurisdiction of incorporation)

1-12328      (Commission File Number)

22-3251332    (IRS Employer ID Number)

103 Eisenhower Parkway, Roseland, New Jersey                                07068

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(Address of principal executive offices)                                            (Zip Code)


Registrant's Telephone Number, including area code:             (973) 228-6111

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(Former name or former address, if changed since last report)

Item 5.       Other Events and Required FD Disclosure.

                    On March 3, 2003, Chelsea Property Group, Inc. issued a press release reporting on its earnings for the year ended December 31, 2002. A copy of the press release is attached as an exhibit to this report.

Item 7.      Exhibits

1.                Press release issued March 3, 2003.

SIGNATURES

          Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CHELSEA PROPERTY GROUP, INC. By: /s/ Michael J. Clarke                             Name: Michael J. Clarke       Title: Senior Vice President and Chief Financial Officer

Dated: March 4, 2003

EXHIBIT INDEX

Exhibit Number

Description

Page

1

Press release issued March 3, 2003