3 weeks ago
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The city of El Cajon is considering acquiring Parkway Plaza as part of a long-term redevelopment project aimed at getting ahead of declining retail trends.
“The city would like to see Parkway Plaza reimagined, but it’s hard for us to talk to developers when we have no ownership stake,” City Manager Graham Mitchell said.
Positioned on an 80-acre parcel in the center of El Cajon, Parkway Plaza is the largest commercial indoor mall in San Diego County. The retail center opened in 1972 and has recently seen a shift in ownership, spurring concern for the future of the space from city officials, Mitchell said.
Starwood Capital Group lost ownership of Parkway Plaza in 2020 after defaulting on Israeli-held bonds. It was then acquired by the current owners, Pacific Retail Capital partners and Golden East Investors.
City leaders hope to redevelop the indoor mall space and get ahead of declining retail trends. But Mitchell said the city faced roadblocks without having the legal authority to make those plans happen. So the City Council directed staff to research the feasibility of acquiring the property, he said.
“There’s a lot of unknown with the mall and we don’t want it to fall through the cracks and become forgotten,” Mitchell said.
El Cajon residents and city officials alike share the concern that shifts in shopping trends could lead to Parkway Plaza becoming what is known informally as a “dead mall.”
Originally, officials were not...
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