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November 15, 2007
Forest City in the News
A Forest City "lifestyle center" signs up new tenants as construction begins.
The Press-Enterprise [Redlands, CA], The Promenade's expansion attracts upscale tenants
The tenants include Pottery Barn, Williams-Sonoma, Coldwater Creek, Chico's, White House/Black Market, The Walking Company and a Yard House restaurant. The expansion is expected to be finished by spring 2009.
The businesses will be the first tenants in Promenade's "lifestyle center," an outdoor shopping area with a Main Street-like setting featuring fountains, shade trees and other amenities. The expansion will also include two new multilevel parking garages.
At Wednesday's groundbreaking ceremony for the expansion, Kenneth Lee, a vice president of development with The Promenade's majority owner, Forest City Enterprises, said the mall is one of the most profitable in the company's portfolio.
...
Besides going to the mall to shop, [Temecula Mayor Chuck] Washington said he hopes the lifestyle center encourages people to view The Promenade as "a place where people will come together."
The Californian, Developer details The Promenade's expansion
Forest City is billing the expansion as a "lifestyle center," a relatively new class of shopping centers that includes outdoor walkways and more sit-down restaurants than traditional enclosed malls.
NoLandGrab: The word "mall" is clearly taboo amongst retail developers. In reality, it's a mall, but you're not supposed to think of it as a mall.
For the uninitiated:
Lifestyle center = MALL
Open-air lifestyle center = OUTDOOR MALL
Mixed-use lifestyle center = MALL WITH OFFICE SPACE AND/OR HOUSING
Open-air mixed-use lifestyle center = OUTDOOR MALL WITH OFFICE SPACE AND/OR HOUSING
Open-Air Regional Lifestyle Center = OUTDOOR LARGE-THAN-YOUR-AVERAGE MALL
Here's an article on the history of "lifestyle centers."
Posted by lumi at November 15, 2007 4:55 AM