Center Uniquely Positioned to Serve Greater
San Diego and Beyond, as Growth Continues
INDIANAPOLIS, May 20, 2024
/PRNewswire/ -- Simon®, a real estate investment trust
engaged in the ownership of premier shopping, dining,
entertainment, and mixed-use destinations, today announced
significant reinvestment to integrate luxury living at Fashion
Valley. Following the recent completion of a multimillion-dollar
revitalization, the new development further positions the center as
the epicenter of upscale shopping, dining, and living in the
San Diego area.
Renowned for its curated collection of designer brands, Fashion
Valley will soon transform into a community unto itself with 850
multi-family luxury residences by AMLI Residential, a leader in
luxury apartment living. Together, Simon and AMLI will deliver a
dynamic living environment - a vibrant, diverse, and exclusive
residential enclave featuring incomparable amenities and high-end
finishes.
This phase in Simon's vision to define the luxury destination
will include 100,000 square feet of new retail and new
one-of-a-kind dining experiences to complement fresh and lush open
green spaces and ample parking for residents and guests. San
Diegans will now be able to enjoy residing in a lifestyle community
that encompasses the finest shopping and most delectable dining
selections mere steps from their favorite Fashion Valley
boutiques.
"Simon is leading the evolution of today's retail
landscape with the strategic transformation of key properties
across the country. We're excited about this next phase of Fashion
Valley as we continue to reinvest and add a walkable, livable
lifestyle community that is intertwined with handpicked luxury
brands that can only be found here," said Mark Silvestri, President of Development at
Simon. "This redevelopment marks a new era of sophistication and
convenient living in San
Diego."
Fashion Valley recently completed a multimillion-dollar
revitalization, further elevating the shopping experience with a
tailored new look and several openings of first-to-market luxury
brands, including Dior, Bottega Veneta, David Yurman and Dolce & Gabbana. It was
also recently announced three first-to-market luxury brands will
join the lineup including Celine, which is slated to open in Q2 of
2024, Christian Louboutin and Fendi,
both of which will open in 2025.
Earlier this year, Rolex Boutique Fourtané expanded its
footprint, doubling in size to unveil a custom San Diego inspired design concept with
multiple private consultation rooms and a two-story exterior
facade. Meanwhile, Omega has plans to reopen this year. Additional
brands coming to Fashion Valley in 2024 include Tudor, Veronica
Beard and Zimmermann.
"Fashion Valley is the premier luxury shopping destination for
San Diego and its surrounding
areas, drawing an affluent shopper base from an exceptionally large
trade area, including the greater San
Diego region and Mexico.
Due to this unique positioning and Simon's continued reinvestment,
it attracts some of the most prominent names in luxury and European
fashion" said Vicki Hanor, Senior
Executive Vice President and Managing Director of Luxury Leasing.
"This is just the beginning of this exciting new chapter of robust
growth as we look forward to welcoming even more iconic names to
our growing list of luxury brands you can only find at Fashion
Valley."
The prestigious retail and residential redevelopment project is
expected to begin immediately following JCPenney's planned closure
at the end of 2025 and is anticipated to be complete in late
2026. For more information about the project and Fashion
Valley, please visit here.
About
Simon
Simon® is a real estate
investment trust engaged in the ownership of premier shopping,
dining, entertainment and mixed-use destinations and an S&P 100
company (Simon Property Group, NYSE: SPG). Our properties across
North America, Europe and Asia provide community gathering places for
millions of people every day and generate billions in annual
sales.
About AMLI Residential
AMLI
Residential focuses on the development and management
of environmentally responsible, luxury apartment communities
throughout the U.S. Founded in 1980, AMLI is owned by PRIME
Property Fund, a core commingled institutional fund. AMLI owns and
manages 77 apartment communities, including approximately 26,000
apartment homes, and has over 2,900 additional apartment homes
under development at seven new communities. AMLI is a leader in
multifamily sustainability. Forty-nine AMLI communities are
LEED®-certified, and 47 communities are ENERGY
STAR®-certified.
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SOURCE Simon