The Irvine Company has started building Crystal Cove Promenade, a shopping mall a few miles from Fashion Island and a few more,and more important,miles from South Coast Plaza.
Several specialty stores have signed leases at the 125,000 square-foot complex off Pacific Coast Highway, according to Keith Eyrich, president of the Irvine Co.’s retail properties. The center is scheduled to open next summer and is being built to house 25 tenants and two restaurants.
Some retailers with leasing contracts at Costa Mesa’s South Coast Plaza that prevent them from opening stores at Fashion Island could find Crystal Cove Promenade an alternative.
“Some merchants that sign leases with nearby centers are affected by restrictions,” Eyrich said. “But this new center is not subject to any restrictions.”
Among the retailers setting up shop in the promenade is San Francisco-based Gap Inc., which signed leases for a Gap and a Gap Kids store as well as a Banana Republic. All three brands also are in South Coast Plaza.
The Irvine Co., which owns Fashion Island, The Market Place, Irvine Spectrum Center and Corona del Mar Plaza, has started development of an 800-home community in the area called Crystal Cove.
“Crystal Cove Promenade is unique in that it serves a residential area,” Eyrich said.
Eyrich declined to disclose any other possible tenants, but said the list could include a pharmacy and a dry cleaner.
As for restaurants for the two freestanding buildings in the center, Eyrich said, “We’re doing a nationwide evaluation of what would be the best and most appropriate restaurant.”
The center is set to feature similar offerings to Fashion Island and Corona del Mar Plaza, which houses Bristol Farms and Tommy Bahamas Caf & #233; & Emporium, Eyrich said.
Crystal Cove Promenade also is set to house smaller specialty shops like Hortus Parterre, a garden store and UhOh Clothing Boutique, which sells women’s clothing.
The Crystal Cove development has been somewhat problematic for the Irvine Co., which has been cited and fined by state water regulators for allowing runoff from the site to enter the ocean via Crystal Cove State Beach. n
