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MARINA DEL REY-Rick Caruso’s Caruso Affiliated has unveiled its $11 million makeover of the 140,000-sf Waterside Marina del Rey retail center. The developer has completely renovated the retail venue, which formerly was known as the Marina Waterside.

Caruso’s makeover created individualized storefronts and signage so that each shop and restaurant has its own identity, and the overall site has been redesigned as a curving crescent with larger sidewalks, plazas and open spaces to foster pedestrian traffic. Rick Caruso, CEO of the company, says the renovations were designed to create a shopping, dining and community gathering place in the heart of Marina del Rey.

The center is surrounded by established homes as well as many new residential developments, yet retail “has not kept up with market demand,” according to Caruso, who notes that the redesigned center retained shops and restaurants that were popular with customers while bringing in new retailers and dining choices.

Besides redesigning the existing space, Caruso Affiliated added approximately 10,000 sf of new retail and restaurant space and an outdoor dining and patio area. The developer created a 3,500-sf cobblestone and tile courtyard at the center of the project and enhanced entrances, adding a new entry from Lincoln Boulevard.

New retailers at the Waterside Marina del Rey include M. Fredric Woman and M. Fredric Man; White House/Black Market; Marmi Shoes; Brighton Collectibles and Maison d’Optique. A new restaurant, Le Marmiton French bistro, will open in mid-December after relocating from Montana Avenue, along with other new eateries that are either open or will open soon.

Anchoring the center will be a new 36,365-sf Ralphs Fresh Fare, which is due to open in the first quarter of 2006. Caruso Affiliated acquired the center, which is adjacent to Lincoln Boulevard between Mindanao Way and Fiji Way, in 2004 and the property is now 100% leased.

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