RIVERSIDE, CA-Counting on the continuing growth in fast-growing Riverside County, Transcan Development LLC of Alamo, CA plans to build a 600,000-sf retail and entertainment center, Canyon Crossings at Canyon Springs, on an 84-acre site at the intersection of Interstate 215 and State Highway 60.
Robert Bahen, president and CEO of Transcan, tells GlobeSt.com that his company expects to have entitlements by this summer, with construction tentatively planned to begin early next year for a late 2004 opening of the center. The Canyon Springs development has the support of Riverside city officials, according to economic development manager Kevin Palmer, who says the thousands of homes that have been built in eastern Riverside over the last few years have created “an excellent opportunity for retail development.”
The center will be positioned in the 400-acre, master-planned Canyon Springs development in the Riverside city limits near the border of Moreno Valley, according to Bahen. He notes the 84 acres includes a 15-acre tract set aside for an apartment project planned by Pacific Properties of Las Vegas, which will follow a construction schedule similar to Transcan's.
The Canyon Crossings project will include a mixture of specialty stores, restaurants, cafes, lifestyle and entertainment venues, plus a neighborhood shopping center component. Listing agents for the property are Tom Swieca and Tony Archer of CB Richard Ellis Inc.'s retail services group in Ontario.
Transcan, which has developed projects in the US and Canada, says it was drawn to the development site by demographics that include more than 551,000 residents within the future center's trade area and the average household income of $75,000 within a three-mile radius of the mixed-use complex.
Neither an architect nor a general contractor has been chosen yet for the project, which is one of a number of Transcan developments under way in California, including 180,000 sf in Oakland that the firm is building near its headquarters in Alamo.
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