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RIVERSIDE, CA-Riverside city officials have named MetroRiverside LLC of Tiburon to develop the $200 million Fox Plaza project, which is planned for 500 condominiums and live-work lofts, 65,000 sf of class A retail space and a 120-unit high-end, all-suites hotel. The development site is across the street from the Fox Theater, a designated cultural heritage landmark that is scheduled to be renovated into a regional performing arts center.

The Fox Plaza development site is bounded by Mission Inn Avenue, Market Street, Sixth Street, Fairmount Boulevard, Fifth Street and the alleyways west of Main Street. The new Fox Plaza and Fox Theater are part of the City of Riverside's overall redevelopment plans to bring more upscale living space, retail, dining and entertainment to its central downtown district, notes Siavash Barmand, principal with MetroPacific Properties.

MetroRiverside, which is owned by MetroPacific Properties and the Nicholson Co., expects to break ground on the project in July 2007. Designed by the architectural firm of MVE & Partners, the development will follow the look of existing structures such as the Mission Inn and Fox Theater, the developers say.

The buildings will rise to six to eight stories and will feature underground parking for both residents and the public. Condos and lofts will range in size from 800 sf to 1,100 sf. The units are expected to be priced starting from the mid-$300,000 range.

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