Fort Worth, Texas — Trademark Property Co. and Zapolski Real Estate LLC have announced a joint venture to lead the $25 million redevelopment, now underway, of Napa Center, a 153,000-sq.-ft. retail and hospitality district in the heart of downtown Napa, Calif.
Slated to open in the fall of 2015, the redevelopment envisions a pedestrian-oriented urban environment featuring more than 40 retailers and restaurants and ARCHER Napa, the previously announced, four-star luxury hotel to be developed and operated by LodgeWorks Partners. Plans call for the hotel to open in late 2015.
“Most comparable U.S. tourist markets have large fashion and specialty shopping venues, with Napa being a notable exception,” said Tommy Miller, managing director and chief investment officer for Trademark. “Our project will deliver the critical mass of upscale shopping and dining that the Napa Valley very much wants and will capture a significant portion of resident retail sales currently leaving the market, as well as unmet tourist demand.”