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Mall Makeover
Desert Walk Project to Jump-Start Palm Springs Renaissance
Plans are in the works to renovate the Desert Fashion Plaza in downtown Palm Springs, California into an open-air retail/entertainment center called Desert Walk. Although the project is still in the process of municipal approval, it has received significant support from the town’s mayor and is expected to herald a civic renaissance in the town.
“The mall as you see it will not be here in two years”
“The mall as you see it will not be here in two years,” says Palm Springs Mayor Will Kleindienst. He calls the current facility inadequate and nonfunctional and offers as proof the deserted hallways of the existing mall. A tentative timeline calls for demolition work to begin in the summer of 2000 with completion the following year.
According to Emmett Albergotti, senior vice president of Excel Legacy Corporation, owners of the project, “Legacy is delighted to be working with the city and our partners on this exciting project. We are confident this project will be embraced by both visitors and residents of Palm Springs. The project was envisioned and designed to be a place where people will gather, shop and enjoy themselves.” Excel acquired the property in April 1998 from Financial Security Assurance Company, of New York, for $13.6 million.
Excel Legacy Corporation is a public real estate company organized to create value through the acquisition, development and management of real property. Legacy’s philosophy is to pursue signature projects that have unique locations, concepts and/or entry barriers including developing mixed-use, retail/entertainment projects. The company currently has approximately 33 projects in various stages of completion, including Newport on the Levee on the banks of the Ohio River across from Cincinnati, Pointe Anaheim at the entrance to Disneyland and the Los Arcos Oasis, a 92-acre sports and retail-entertainment project located in Scottsdale, Arizona.
The developer for Desert Walk is MBK Southern California Ltd., a partner with Excel Legacy in previous projects encompassing approximately $50 million in retail development, including the new 200,000-square-foot Westminster Promenade in Westminster, Colorado.
A division of Irvine-based MBK Real Estate Ltd., MBK Southern California Ltd. specializes in development/redevelopment, single-tenant build-to-suit, and development services for retail, hospitality and public projects throughout California and the Southwest. MBK and its six wholly-owned subsidiaries comprise the U.S. real estate development and construction arm of Mitsui & Co., Ltd.
Design services for the project are being provided by MCG Architecture based in Beverly Hills, California. The new center is being designed as an extension of the city’s famous main street, Palm Canyon Drive, and will be characterized by rugged stone bases and courts, extensive use of landscaping, and soaring rooftops. The $64-million renovation will include outdoor fireplaces, dramatic water elements and second-story patios, which will add to the unique character of the project.
Founded more than 70 years ago, MCG Architecture balances innovative design and advanced technology to provide creative and practical solutions that enrich communities and build clients’ businesses. Its diversified design and construction portfolio reflects extensive experience, with a primary focus on retail adventures, urban streetscapes and renewal, destination tenants, commercial environments and hospitality. The company has created more than 1 billion square feet of retail space.
“Palm Springs is in the midst of a renaissance that is significantly nourished by today’s resurgent interest in the area’s modern style of architecture.”
Richard Huelsman, president of MCG, notes, “Palm Springs is in the midst of a renaissance that is significantly nourished by today’s resurgent interest in the area’s modern style of architecture.” Paying homage to the area’s modern architecture, outdoor “rooms” will be shaded by cantilevered planes to create public spaces for community activities, such as farmer’s markets or evenings spent dining under the clear desert sky. The buildings will be grouped around a 40-foot-wide pedestrian-friendly concourse, with colorful art forms enhancing the atmosphere.
The desired tenant mix, carefully identified to serve the needs of the eclectic Palm Springs community, includes Saks Fifth Avenue, a two-story multi-screen cinema, a food court, gourmet market, restaurants and various specialty shops. The Hyatt Regency Palm Springs, immediately adjacent, will be fully integrated into the project. Leasing will be handled by CB Richard Ellis Retail Services. Retail specialist Maggie Montez is the lead leasing representative for Desert Walk.
For more information, contact Maggie Montez, CB Richard Ellis Retail Services, 760-341-2272; Emmett Albergotti, senior vice president, Excel Legacy Corporation, 619-675-9400 ext. 129.
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