$100M Retail Development Gets Jumpstart
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HUNTINGTON BEACH, CA-DJM Capital Partners has acquired approximately 11 acres for the retail and hotel portion of the planned mixed-use, Pacific City development from Crescent Heights. Consistent with the entitlements, the company plans to develop on the original footprint and with almost 6.5 acres for 191,000-square-feet of open air retail, restaurants and entertainment and four acres for an eight-story hotel.
“We have a rare opportunity to create an exceptional oceanfront destination in one the world’s most recognized beach cities. Our vision is to bring quality retail and dining that appeal to residents and visitors and do it in a way that reflects the essence of the area,” says Lindsay Parton, president, DJM Development Partners Inc., an affiliate of DJM Capital Partners Inc. “It will be casually sophisticated and environmentally sensitive with an eclectic mix of retailers and restaurants that are both local and global.”
Parton tells GlobeSt.com that “the retail development will approach $100 million.”
DJM’s Pacific City property is south of the Huntington Beach Pier along Pacific Coast Highway. Retail and restaurants will be situated in multiple two-story buildings. It will feature sustainable design in the building materials and landscaping and use a natural color palate, according to a prepared statement. The hotel, set on the southern end of the site, will also incorporate the same sustainable design, landscaping program and color scheme as the retail development. It will also maximize the one-of-a-kind location with ocean views throughout including guest rooms, pool deck, common areas and public spaces.
DJM has engaged the Jerde Partnership as design architect, Lifescapes International as the landscape architect and SMS as the executive architect.
The firm is also currently building a mixed-use addition at the residences at Bella Terra. Bella Terra is an 800,000-square-foot retail center set on 44 acres with more than 70 shops and restaurants here.
For an irreverent look at the ups and downs of the retail industry, check out Counter Culture authored by GlobeSt.com Editor, Ian Ritter.
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