Shopping Centers Today

JUN 2017

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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24 S C T / J U N E 2 0 1 7 D E V E L O P M E N T D I G E S T F R O M R E N D E R I N G TO G R A N D O P E N I N G Lido Marina Village gets its movie star looks back By Ben Johnson I n Newport Beach, a seaside city in Orange County renowned for its Southern California charm, the Lido Marina Village retail center is set to regain the style and flair it had some 45 years ago. Owner DJM Capital Partners, of San Jose, is finishing up redevelopment of this 116,000-square-foot shopping center just off the Pacific Coast Highway, on an inlet to the Pacific Ocean. Lido Marina Village, which opened in 1971, had turned into quite the hot spot by the mid-1970s, after Burt Hixson, an award-winning Hollywood cameraman turned restaurateur, opened The Warehouse there. This Polynesian restaurant quickly became a favorite among movie stars and celebrities such as John Wayne and Robert Goulet. But by the late 1990s, the center had lost quite a bit of that starshine. "This was a property that had seen its glory days go by," said D. John Miller, DJM Capital's CEO. "It had deep history with the commu- nity, but it was a gem, basically, that had been let go." New York City–based Vornado Realty Trust bought the property in 2009, but a planned high-rise residential development there never materialized, and DJM Capital acquired it in May 2013. Much has materialized since then, however. The redeveloped Lido Marina Village held a soft opening last November with the mayor and other city officials in attendance. The center is to celebrate its official opening this summer. Miller's vision for Lido Marina Village began with the time he spent seek- ing to understand the local community and the potential repositioning of the property. DJM already knows the Southern California market well, having de- veloped the 1 million-square-foot Bella Terra lifestyle center and Pacific City, an 11-acre mixed-use development with 191,000 square feet of retail space, both in nearby Huntington Beach. "We recognized we could deliver what I would call a rejuvenated, kind of SoCal gem The project's second phase will involve rebuilding the marina

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