WALNUT CREEK, CA-The owners of Broadway Plaza Shopping Center plan to spend up to $260 million to expand and redevelop the downtown, open-aired center.
The Macerich Company, a Santa Monica-based REIT is working with the City of Walnut Creek on a long-term development plan that would delineate the roles and expectations of each party for the next 10-20 years, according to a report in the Registry.
“We are in discussions with Macerich now and hope to have this agreement worked out in the next several months,” said Sandra Meyer, community development director for the city of Walnut Creek told the commerical real estate website. “I would think that the developer would like to get work started on the project sometime early next year and have work on the first phase impacting as little as possible on the Christmas holiday shopping 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.
