What recession? Cerritos planning big mall expansion

At a time when many cities are hurting during this economic downturn, economic powerhouse Cerritos is about to collect more money. Macerich Co., the company now remaking the Santa Monica Place with high-end shops, is also planning a big makeover of the Los Cerritos Center, again with a nod to the upscale. More from the Press-Telegram:

A $95-million renovation project that began on the Los Cerritos Center mall this month will include a new Nordstrom, an upscale restaurant and from 10 to 12 new shops, officials said. A spokesman for Macerich Co., which owns the mall at the San Gabriel (605) Freeway and South Street, has not yet confirmed what shops will be added, but said the merchandising will be consistent with the mall's current retail. The project is expected to be completed by spring 2010. Cerritos Mayor Jim Edwards said the renovations should bring an additional $360,000 in annual sales tax revenue and about $1.1 million in property taxes. That's on top of the
$3.4 million the mall generates for the city each year. Macerich Co. and Nordstrom have partnered to invest the nearly $100 million for the project, Edwards added. "In these tough times, it's good to see that people believe in Cerritos and have confidence in our city," Edwards said.

-- Shelby Grad

Photo: LAT file

Comments

[sam]

What a friggen joke.
who needs all this high end stuff.
I remember fedco did redid all there stores now where are they?
It's real pathic if you build it, they will come attitude.
that ship has sailed. Lets see how Nordstrom fairs next year?
Cerritios is middle class city with over built homes.

[Jason]

It's great that the mall is finally coming around to beinig redeveloped. It needs to reflect the tastes of its higher-end residents as well as try to compete with the much larger South Coast Plaza.

Most people I know from Cerritos make the 30 minute commute to South Coast Plaza just to be in more "comfortable" environments rather than shop at the Los Cerritos Center. Though it's the most successful mall in that part of Los Angeles/Orange County, that comes with an unintended side-effect: wealthier Cerritos residents want to avoid running into people of different socioeconomic class in their shopping experience. The result is "cash flight" to nicer malls, generally south of Cerritos.