Sudberry breaks ground on mixed-use development in Mission Valley, Ca.
San Diego — Sudberry Properties has broken ground on the first phase of Civita, the 230-acre mixed-use development that will turn a 70 year-old quarry in Mission Valley, Ca., into a walkable community with attainable housing options, village shops, businesses, access to San Diego’s Light Rail System and abundant acres of park space all within a 15 minute walk of one another.
The Civita community is planned in four phases over a 12 to 15 year time frame with each phase taking approximately three to four years to complete. The first phase includes apartments and townhomes. Additionally, there will be almost 1 million sq. ft. of office and retail space for shops and restaurants in subsequent phases, providing the opportunity to live, work and play in Civita.
More than one-third of Civita will be devoted to open space and public areas that will include public parks, landscaped public parkways, private open space and a Civic Center with a plaza, amphitheater for public events and Heritage Museum.
The final master plan was developed by Elkus Manfredi Architects, of Boston.
Readers Speak Out: What is expected to be the most talked-about topic at ICSC-New York?
The Nov. 24 edition of SiteTalk invited readers to suggest what they thought would be most talked-about in the aisles of the International Council of Shopping Centers New York deal-making conference. Here is what one reader had to say:
"I expect to hear people complimenting our new Roundtables (Tuesday, Dec. 7, 8-9 a.m.) at the Sheraton. Also, if Black Friday and the start of holiday shopping season match retailer expectations (as shown in our pre-holiday tenant survey), I expect to hear about more deals being made."
— David Silver
Levin Management Corp.
Report: Russsian grocers merge to deter Wal-Mart
New York City — Two of Russia’s largest grocery store chains, Pyaterochka and Kopeika, said on Monday that they would merge their operations in a move that would better position them to compete with Wal-Mart Stores, which is expected to enter the Russian market, according to the New York Times.
The deal, worth about $1.7 billion including the assumption of debt, was also a sign of renewed confidence in the Russian consumer market, which has been picking up because of rising prices for oil and other commodities that Russia exports, the report said.