FOR IMMEDIATE RELEASE

Contact: Joyce Masterson, 760-839-4621

The Escondido City Council has approved a revitalization plan that will reestablish Westfield North County as the preeminent shopping center destination in North County.  The agreement calls for an investment of more than $55 million by center operator Westfield and the center’s retailers that will revitalize and improve the mall. The renovation will be funded entirely through private investment at no cost to the City or taxpayers. The City has agreed to provide Westfield a 15 year lease extension on the land on which much of the shopping center resides. The current lease expires in 2038.

 “A revitalized Westfield North County will create jobs and provide a substantial source of new revenue for the City to fund economic development programs and vital City services, such as police and fire protection,” said Escondido Mayor Sam Abed. “Additionally, the project will boost the local economy by adding new jobs at a time when employment opportunities are most needed.”

 Specific elements of the mall revitalization include:

- adding a new 150,000 square foot, multi-level Target;

- revitalizing the interior of the shopping center, which involves new floor finishes, interior paint and lighting schemes, furniture, handrails, signage, and a children’s play area;

- adding two new full-service restaurants;

- overhauling the food court and remodeling the restrooms;

- remodeling and updating all eight entrances to the center; and

- resurfacing the entire parking lot.

 “Westfield looks forward to continuing its long partnership with the City of Escondido,” said Jerry L. Engen, Senior Vice President, Development for Westfield San Diego. “This agreement creates an opportunity to transform Westfield North County to ensure that it remains a top shopping destination for decades to come.”

 Target, which operates 1,767 stores across the United States, will establish a 150,000-square-foot store in the space formerly occupied by Robinsons-May, bringing new life to a former department store building which has been vacant since 2006. The multi-level Target store will include an expanded fresh food assortment providing greater convenience and value to guests.

 “Target will be a welcome addition to Westfield North County that will complement as well as supplement the existing tenant mix, as has been demonstrated at many Westfield centers across the nation,” said Engen, citing Westfield Topanga, where the synergy created by the combination of Neiman Marcus, Macy’s, Nordstrom and Target has been a huge success and has created the top shopping destination for the valley.

 Work is scheduled to begin in the first quarter of 2012. Westfield’s goal is to complete the revitalization in time for the 2012 holiday season.

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