Glimcher Plans $100M California Mixed-Use Development
- Mar 25, 2008
Glimcher Ventures Southwest L.L.C. plans to develop a $100 million 15-acre mixed-use development in Roseville, Calif., directly adjacent to the city’s largest mall, The Westfield Galleria at Roseville. Dubbed Highland Village, the 225,000-square-foot development will combine retail shops, restaurants and two Hyatt-affiliated hotels–a Hyatt Summerfield Suites and a 151-room Hyatt Place–which will serve as the anchor tenant of the project. “This is a AAA+ location next to the number one mall in Sacramento,” David Glimcher, president of Glimcher Ventures Southwest, told CPN. “The Westfield Mall is being expanded and this is the heart of Roseville, which … has a huge amount of office space in the market, Glimcher noted. “For us, because of those factors and because it is not meeting market needs for hotels and restaurants, it puts us in a position to move this forward even in this market.” Glimcher said the project will be under construction on April 15 with a May 2009 opening.”Highland Village will be a unique, open-air shopping and dining center designed to promote a fun, nightlife environment within the premier shopping and dining area of Roseville, Glimcher said. The surrounding community has more than one-half million residents living within a five mile radius. Located on the southeast corner of Roseville Parkway and Gibson Drive, the center’s contemporary design will promote pedestrian walking areas, large public spaces, fountains and valet parking. The project has received “significant interest” from both retail and restaurant tenants, according to company officials. Space is currently being leased and additional tenant announcements are expected in the coming months. Glimcher Ventures Southwest is a commercial development company that specializes in new shopping center development and redevelopment. The company is currently developing projects in Arizona, California and Colorado and is anticipating developments in Utah and Nevada.