Back to Drawing Board for Desert Retail Developer
The once thriving and now shuttered Desert Fashion Plaza in Palm Springs, Calif., may come to life again but this time as a more conservative and practical shopping center, according to developer John Wessman of Wessman Development Co.
Wessman, who bought the property in 2002, has been vacillating between building a $400 million lifestyle retail center and condominiums or apartments on the site of the old Fashion Plaza, which once housed upscale retailers such as Saks Fifth Avenue and I. Magnin. However, given the state of the economy, Wessman went back to the drawing board and came up with a new scaled-down plan. He hopes to invest $50 million in a public/private-backed retail project heavy on entertainment-based locations, with six restaurants, a movie theater, health club, and local and national retailers. Wessman filed an application for the project in January with the city.
Scottsdale, Ariz.–based Allen + Philip Architects/Interiors has drafted conceptual plans, which call for the mall’s roof to open, creating an open-air center.
Wessman polled prospective retailers and said they would probably not be prepared to invest in new locations until 2012 or 2013 because of the current economic downturn.
That may coincide with Wessman’s plans, which are to start construction in 2011. He said he already has several letters of intent. The next step is to file a formal application with the city, which may happen in the coming months. —Robert McAllister
