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.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.