Historic Horton Plaza Park to Become One of the Largest Gathering Spaces in San Diego
- Aug 08, 2011
Signon San Diego reports that the historic Horton Plaza Park is one step closer to a $8.5 million design that will transform it into one of the largest gathering spaces in the city. The design was endorsed by redevelopment dealers and is scheduled to receive the final approval in September.
The future transformation and expansion of the park is the result of a partnership between Centre City Development Corp. and the Westfield Horton Plaza retail center. According to the official website for the project, in order to create space for the new plaza, the Robinsons-May building, located at Fourth and Broadway, will be demolished. An amphitheater with a capacity of 25,000 will be built south of the park. Walker Macy has been hired to coordinate the public process and to create the design.
The project won’t be a financial burden for the taxpayers due to the public-private partnership plan agreed with Westfield Group, who has committed to maintain the park for 25 years and to organize and sponsor at least 200 events a year such as farmers’ markets, outdoor movies and concerts. In return, Westfield is relieved of profit-sharing payments through 2035.
In other news, the same source reports the retail portion of the $40 million Pacific Station mixed-used project has been sold for $19.5 million to a Walnut Creek, Calif.-based investment company. The 38,828-square-foot center is currently 96 percent leased and is anchored by a Whole Foods grocery. The seller was developer John DeWald and Associates of Cardiff-by-the-Sea, represented by Holliday Fenoglio Fowler (HFF), and the buyer was Loja Real Estate, represented by Colliers International. Capital Growth Properties will manage the project while CB Richard Ellis will continue as the leasing agent.