DJM Capital Partners to develop retail/hotel project
Huntington Beach, Calif. -- DJM Capital Partners announced that it has acquired about 11 acres from Crescent Heights for the retail and hotel portion of a planned mixed-use development Pacific City.
The company said it plans to develop on the original footprint and with almost 6.5 acres for 191,000 sq. ft. of open-air retail, restaurants and entertainment and four acres for an eight-story hotel.
“We have a rare opportunity to create an exceptional oceanfront destination in one the world’s most recognized beach cities – ‘Surf City USA,’” said Lindsay Parton, president, DJM Development Partners, an affiliate of DJM Capital Partners. “Our vision is to bring quality retail and dining that appeal to residents and visitors and do it in a way that reflects the essence of the area.”
The company already owns Bella Terra, an 800,000-sq.-ft. retail center set on 44 acres with more than 70 shops and restaurants.
DJM’s Pacific City property will feature retail and restaurants in multiple two-story buildings set around a central pedestrian street dotted with plazas and open areas along Pacific Coast Highway.
It will feature sustainable design in the building materials and landscaping and use a natural color palette that reflects and complements the beach environment.
DJM has engaged the Jerde Partnership as design architect, Lifescapes International as the landscape architect and SMS as the executive architect.