ANew Grove to Grow in Florida
Echo Real Estate Services, Pittsburgh, and Cornerstone Real Estate Advisors, Hartford, Conn., have broken ground on phase one of the Grove at Wesley Chapel, a specialty complex featuring retail, restaurant and entertainment offerings, and located along the west side of Interstate 75 in Wesley Chapel, Pasco County, Fla. The first phase of 327,666 sq. ft. is slated to open this fall.
Grove at Wesley Chapel will feature a 16-screen Cobb Theatre megaplex that offers an upstairs full-service restaurant, bar, lounge and concierge service—in addition to the traditional theater experience on the main level. The 74,000-sq.-ft. theater is slated to open in spring 2008.
Retail commitments include Bed Bath & Beyond, ULTA and Dick’s Sporting Goods.
In Temecula, Calif., at Interstate 15 and Winchester Road, sits The Promenade Temecula, a newer, enclosed, 1,013,000-sq.-ft. mall that is expanding its offerings into an open-air, lushly landscaped, walkable outdoor destination featuring restaurants, a village square, pocket parks and a Main Street. Developed by Forest City Commercial Development, a unit of Forest City Enterprises, Cleveland, the lifestyle addition is slated for a spring 2009 completion. Existing tenants—Macy’s, Sears, J.C. Penney, Brighton Collectibles, Abercrombie & Fitch, California Pizza Kitchen, Edwards Cinema, Build-A-Bear and more—will be joined by Talbots, Ann Taylor and J. Jill in the 200,000-sq.-ft. outdoor lifestyle addition.
Note: The Promenade Temecula was originally featured in Chain Store Age’s special supplement on lifestyle centers in the March 2007 issue, but an incorrect rendering of the development was shown. Shown above is the correct image.
A half-century-old, outdated mall has been transformed into a new lifestyle destination, thanks to the redevelopment efforts of owner The Westminster Funds. Riverside Plaza, located in Riverside, Calif., today features California-style architecture with stucco buildings and tiled roofs and a Main Street plan accented by a citrus grove, bell tower and water features. Upscale tenants such as Regal Cinema, California Pizza Kitchen, Panera Bread, Chipotle Mexican Grill and Borders offer a lifestyle flair. The addition of a two-car trolley is the finishing touch to the 475,000-sq.-ft. center’s makeover.
Los Angeles’ Downtown Distinction
The 3.6 million-sq.-ft. Grand Avenue development in downtown Los Angeles is designed to create a high-impact, high-quality destination in one of the nation’s premier downtown cores. Comprised of a luxury hotel, a diverse mix of specialty retail and restaurants, public spaces and residential towers, the project is developed by The Related Cos., New York City. Phase one—1.2 million sq. ft., including 250,000 sq. ft. of retail—of development is slated to occur in conjunction with major streetscape improvements to adjoining sections of Grand Avenue along with the development of an adjacent 16-acre Civic Park event center.
The entire development will comprise nine acres on three city blocks, situated directly across the street from the Frank Gehry-designed Walt Disney Concert Hall.