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Do you live in a shopping center? | Fashion Valley to add 850 luxury homes

Do you live in a shopping center?  |  Fashion Valley to add 850 luxury homes

 


With major changes coming to one of San Diego's most iconic outdoor malls, your yard could be just steps from Rolex, Dior and Dolce and Gabana.

SAN DIEGO Fashion Valley will soon offer more than just shopping. For the first time, you will be able to live at the mall.

Simon, the owner of Fashion Valley, announced that JCPenney is about to transform into hundreds of high-end residences.

A first in Fashion Valley

The development would be located on the west end of the mall, nestled next to Nordstrom and Neiman Marcus. The plan is to build 850 luxury homes, the first ever located inside the mall.

“We will always have people drawn to the California coast, as well as San Diego,” said Laurie MacDonald, president of the Pacific Southwest Association of Realtors. “If you want luxury, go to Fashion Valley.”

With major changes coming to one of San Diego's most iconic outdoor malls, your yard could soon be just steps away from Rolex, Dior and Dolce and Gabana.

“It’s kind of fun to see the luxury, it reminds me of Rodeo Drive, but not everyone can afford it,” said Hannah Lawrence, who lives nearby.

Over the years, more and more storefronts have become designer brands and they will soon have housing to match.

“It's the trend for all age groups, people want walkability. I like what they're doing – creating more housing, in general, it's great. I would love to see it “There's more homeownership opportunities there because that's really what San Diego needs,” she said. said.

With this growth, marks the end of an era for this JCPenney site.

“I’ve been going to JCPenney since I was a kid,” Lawrence said.

“Retail is tough right now, with all the online shopping,” MacDonald added.

Simon, the owner of Fashion Valley, says the multi-million dollar investment will combine high-end accommodation with luxury boutiques – adding that the redevelopment marks a new era of sophistication and comfortable living.

The units are expected to have “incomparable amenities and high-end finishes.” There are also plans to create new restaurants and open green spaces.

“I was a little surprised, because they're building apartments right down the street. There's going to be a lot of traffic, so yeah, we'll see,” Lawrence said.

Given the housing situation in San Diego, I asked if a city ordinance would require any of the units to fall into the affordable housing category. In a word, a certain percentage must be respected, otherwise the owner will have to pay fees. The city of San Diego added that it has not yet received an application for the project.

JCPenney is expected to close next year, with construction expected to be completed by the end of 2026.

WATCH RELATED: Westfield Mission Valley Sold for $290 Million, Developer Considers Adding Housing

Sources

1/ https://Google.com/

2/ https://www.cbs8.com/article/news/local/jcpenney-to-transform-into-luxury-homes/509-0efc1242-5421-4833-bef1-48fa7167137b

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