Fashion Island shopping center in Orange County, Calif., will get a more than $100 million facelift starting this year.
The Irvine Company, which owns the 42-year-old outdoor mall in the wealthy enclave of Newport Beach, said the expansion and renovation will include the addition of 90,000 square feet of retail space, 1,800 parking spaces and Italian revival-style architectural remodeling.
Construction, set to begin this summer, will be complete by mid- to late 2011.
“Fashion Island hasn’t seen a major upgrade in 25 years, and we’re due for a reinvestment,” said Keith Eyrich, president of Irvine Companies Retail Properties. “Our experience with the economy is not different than anyone else’s right now, but it’s a temporary condition and we know this reinvestment is paramount to keep things at their peak, fresh and exciting for our clientele.”
New retail tenants will be brought into the center, including Nordstrom, Seven For All Mankind, True Religion and Dean & DeLuca foods.
Nordstrom announced plans last year to open a two-level, 138,000-square-foot unit on the site of a former Macy’s Women’s store, the retailer’s sixth full-line store in Orange County. It is to open in 2010.
Fashion Island has about 200 restaurants and retailers, including Orange County’s only Neiman Marcus, the first West Coast location of Y-3, Kate Spade, Juicy Couture and Bloomingdale’s.