Economy delays RiverPark retail center in Oxnard
Ventura County Star reports:
Work on The Collection — which will include a 50,000-square-foot Whole Foods Market, a 16-screen Century Theatres cineplex and an REI store — has slowed, reflecting the pace of the economy as a whole, said Colm Makem, president of Shea Properties, the developer.----
“We’ve moved the opening to the fall of 2010,” Makem said Monday. “Basically to reflect the slowdown in the economy and that’s why you’re seeing a slowdown in the construction.”
The company, which has other commercial and residential developments in California, Arizona and Colorado, has had to adjust work on those projects as well. The hope is the opening of The Collection will correspond with the upturn in the economy.
“We own a lot of real estate and we’re trying to pace the development with the economy,” Makem said. “Most economic forecasts are showing a turnaround in 2010.”
Another Oxnard Albatross. Backgrounder from 2003 ArchNewsNow.