DJM Capital Gets Green Light for 300-Unit Bella Terra Project in SoCal
Plan calls for demolition of 172,000 square feet of retail to make way for the new residential structure
By Greg Cornfield November 7, 2022 5:30 pm
reprints
A new mixed-use residential development is set to rise on part of the Bella Terra shopping center in Huntington Beach, Calif., after development firm DJM Capital and asset management company PGIM secured city approval.
The project calls for the demolition of a 149,000-square-foot structure at 7777 Edinger Avenue that’s occupied by Burlington Coat Factory and an adjacent 33,000-square-foot retail property to make way for a five-story building with 300 residential units and 25,000 square feet of ground-floor retail and restaurant space. Construction is set to begin at the end of 2023. It is expected to be complete in about 30 months and open in early 2026.
PGIM and DJM are also partners at Bella Terra, the 852,000-square-foot shopping center at the 405 freeway and Beach Boulevard. The owners bought the property in 2005 when it was known as the Huntington Beach Mall. In 2019, DJM redeveloped the shopping center and replaced an underutilized amphitheater with new dining, retail and entertainment spaces, including a stage, a lawn and a beer and wine garden.
DJM is also behind the $100 million Ovation Hollywood redevelopment in Los Angeles at the retail center formerly known as Hollywood & Highland; as well as Pacific City and Lido Marina Village in Huntington Beach; and Gateway Center, a 79,000-square-foot shopping strip in the city of Mission Viejo. PGIM and DJM are also partners at Long Beach Exchange, a 246,500-square-foot, grocery-anchored retail center.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
