The planned redevelopment of Costa Mesa’s Triangle Square mall includes a 10-story building with nine floors of condominiums, street-level live-work units, improved parking and the removal of nearly 40% of the mall’s retail space.
Developer Greenlaw Partners of Newport Beach on Friday unveiled the plans for the struggling 185,500-square-foot mall, which has had difficulty keeping tenants and drawing visitors in its 15-year history.
The two-story mall, which sits at the end of the Costa Mesa (55) Freeway, only is about 40% full. Plans call for the demolition of 78,500 square feet of retail space, including the existing site of the mall’s Edwards Theatre.
In the place of the retail space will be 120 homes along Harbor Boulevard and 19th Street, most of them in a 10-story condominium building. The average size of the condos is 1,300 square feet.
Greenlaw and partner Wilton, Conn.-based Commonfund Realty Inc. bought the mall a year ago for an undisclosed price. Greenlaw said it is in the process of submitting its plans to the city of Costa Mesa.
The developer believes construction could begin as early as 2008 with completion by 2010.
