REDEVELOPMENT NEWS
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Heritage Plaza in Irvine gets $10 million makeover
Regency Centers has begun work on the retail destination, which is among the oldest in the city.
By Caitlin AdamsPublished: February 08, 2011 11:58 AM
Regency Centers is moving forward with a $10 million interior and exterior facelift of the 226,998-square-foot Heritage Plaza retail center in Irvine – one of the oldest in the city.
Located at 14474 Culver Drive, the property is anchored by a 44,376-square-foot Ralphs grocery store, and also includes a Bank of America, CVS/Pharmacy, Elephant Bar Restaurant, Wells Fargo and Wendy’s. The destination was originally designed in the 1970s and has not been renovated since its opening.
Redevelopment is the best option for the mature retail center, said Gregg Sadowsky, vice president of Florida-based Regency Centers, which acquired the space in 1999.
The project will include a new exterior façade, upgraded architectural components, updated landscaping, canvas awnings, wider pedestrian walkways and the installation of focused gathering areas with benches and outdoor dining areas. Ralphs will undergo interior remodeling in June, and the entire renovation is slated for completion in November. The design was created by Nadel Architects and Hirsch & Associates Inc.
“Upon completion of the renovation, Heritage Plaza will begin a new chapter as a vibrant community-driven center located at one of Irvine’s busiest intersections,” Sadowsky said. “This redevelopment will move Heritage Plaza forward with the changing community and help create opportunities for future tenant movement and growth."
Related headlines
Tustin's The Management Trust buys Las Vegas firm
KBS Real Estate Investment Trust II buys $47 million complex
Morgan Drexen relocates to Pacific Arts Plaza
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Located at 14474 Culver Drive, the property is anchored by a 44,376-square-foot Ralphs grocery store, and also includes a Bank of America, CVS/Pharmacy, Elephant Bar Restaurant, Wells Fargo and Wendy’s. The destination was originally designed in the 1970s and has not been renovated since its opening. Redevelopment is the best option for the mature retail center, said Gregg Sadowsky, vice president of Florida-based Regency Centers, which acquired the space in 1999. The project will include a new exterior façade, upgraded architectural components, updated landscaping, canvas awnings, wider pedestrian walkways and the installation of focused gathering areas with benches and outdoor dining areas. Ralphs will undergo interior remodeling in June, and the entire renovation is slated for completion in November. The design was created by Nadel Architects and Hirsch & Associates Inc. “Upon completion of the renovation, Heritage Plaza will begin a new chapter as a vibrant community-driven center located at one of Irvine’s busiest intersections,” Sadowsky said. “This redevelopment will move Heritage Plaza forward with the changing community and help create opportunities for future tenant movement and growth." Related headlines Tustin's The Management Trust buys Las Vegas firm KBS Real Estate Investment Trust II buys $47 million complex Morgan Drexen relocates to Pacific Arts Plaza |
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