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Council hears update on mall redevelopment, Sears parcel negotiations and Fountainhead retail activity
Summary
Staff says Pacific Retail is seeking financing to begin a CEQA process for broader mall redevelopment while staff pursues a separate offer and negotiations for the Sears parcel and ongoing DICK'S discussions; a commercial developer (Fountainhead) is moving several retail and hotel projects forward north of Lowe's.
Unidentified staff updated the council that Pacific Retail Capital Partners continues strategic planning for the mall and is working to secure funding that would allow it to initiate the CEQA process for a comprehensive site redevelopment. Staff said the firm is still negotiating with note holders and that significant financing and a CEQA…
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