Owners of the Jantzen Beach Center and retail tenants will invest more than $50 million in redevelopment of the north Portland mall, and the mall’s historic carousel will be restored as part of the two-year project, mall owner EDENS said on Monday.
The carousel, which had been at the former Jantzen Beach amusement park, will close for renovation on April 22. Rides are free up to that date, EDENS said in a news release.
The redevelopment will include a new Target and two unnamed big-box stores of about 25,000 square feet. The center will also include some 50,000 square feet of new retail space that can accommodate up to 25 additional tenants, as well as three stand-alone retail sites, the East Coast development firm said. The project’s first phase, now under construction, will open this fall and a second phase is to be finished in late summer 2013. The company expects the redevelopment to create approximately 500 new retail jobs.
Target is modeling its 138,000-square-foot store at Jantzen Beach in the style of its newer store at the Cascade Station shopping area near Portland International Airport. The existing Target building and several smaller retail spaces, as well as the present food court, are to be demolished.
EDENS says it will create a pedestrian-friendly environment with additional sidewalks, outwardly facing retail shops, improved landscaping and parking upgrades. New streets, some of which will be public, will be named after locally significant people. Street names will include North Parker Avenue in memory of Charles Wallace Parker, who built the antique carousel, North Pavilion Avenue for the former dance pavilion on Hayden Island, and North Starlight Avenue for the island’s former roller skating rink.
Last year, Barnes & Noble closed its bookstore at the mall, which had operated there since 1996.
The center currently has 767,763 square feet of retail space, according to EDENS’ website. Major retailers include Target, The Home Depot, Burlington Coat Factory, Toys R Us/Babies R Us, Ross Dress for Less, and Michaels.