WALNUT CREEK, CA-The owners of Broadway Plaza ShoppingCenter plan to spend up to $260 million to expand andredevelop the downtown, open-aired center.
The Macerich Company, a SantaMonica-based REIT is working with the City ofWalnut Creek on a long-term development plan that woulddelineate the roles and expectations of each party for the next10-20 years, according to a report in the Registry.
“We are in discussions with Macerich now and hope to have thisagreement worked out in the next several months,” saidSandra Meyer, community development director forthe city of Walnut Creek told the commerical real estate website.“I would think that the developer would like to get work started onthe project sometime early next year and have work on the firstphase impacting as little as possible on the Christmas holidayshopping for the next year.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
