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Looking ahead to the holiday season, filled centers have the potential to provide the strongest consumer spending in years, as occupancy remains steadfast at all-time highs, reaching 94.6% in third quarter.
Empire State Development also reported on Wednesday that it was providing an additional $18 million in incentives for the project, bringing the state's total commitment to more than $25 million for the venture.
On more than 20 acres in downtown near the convention center, Farmers Market and city hall, plans call for a project including class-A office, residential, retail, hospitality and open space uses with a high-tech slant.
Prologis's sale of Downtown San Diego's Santa Fe Depot opens up add-on uses including a boutique hotel, creative office, restaurants and retail, Voit's Kipp Gstettenbauer tells GlobeSt.com.
By providing amenities that enhance the dining experience and make the environment memorable, patrons are enticed to return even if they're not staying at the hotel, Ware Malcomb's Tiffany English tells GlobeSt.com.