The owner of Bayshore Town Center in Glendale recently proposed a $75 million redevelopment project as it confronts ongoing challenges to fill retail space.
The 38.4-acre complex, which includes the retail mall, apartments and office tenants, would be reconfigured to include less retail space and additional office space, senior housing and possibly a hotel, according to the proposal obtained from the City of Glendale.
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Bayshore, which was first redeveloped from an indoor mall to include a town center in 2006, currently has over 800,000 square feet of retail space, but that would decrease to about 522,000 square feet with plans to demolish both the mall portion on its north side and the vacant former Boston Store space, and replace those structures with other uses.
In addition, the center's second floor retail space would be converted into office space, increasing the current space for office use from 213,000 to about 248,000 square feet. Its residential space footprint would stay the same at 113 units.
The city's Community Development Authority will hold a public hearing on Nov. 15 for the proposal. If the plans are approved by the city, the project could begin next year, with vertical construction starting in 2021.
Despite recent vacancies throughout the town center, over 40 tenants, including Brooks Brothers, Bar Louie, Forever 21, Apple, Trader Joe's and The Cheesecake Factory will continue operating there.
Its been almost a year since Bayshore was acquired by an affiliate of New York-based AIG Global Real Estate Services in a deed in lieu of foreclosure transfer.