Mall Plans to Add Theaters, Restaurants
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One of the world’s largest shopping centers is about to get bigger.
Owners of Del Amo Fashion Center, which is ranked among the top three shopping centers in the world based on its 2.9 million square feet of retail space, plan to add 369,000 square feet and a parking structure.
James Jones, president of the Torrance Co., the principal owners of the 38-year-old mall, said the addition will include space for a large theater complex, several large retailers and two or three restaurants. Jones said he hopes to begin construction this summer.
“If you look at the changes in retail and what’s transformed in the area, adding theaters and restaurants is a trend that all shopping centers are going through,” Jones said. “It adds more excitement and more for the consumer to experience.”
Torrance city officials have approved the project and plan to issue 30-year bonds to raise the estimated $16 million it will cost to build the parking structure. The bonds will be repaid using increased sales tax revenue the city anticipates it will receive from the mall expansion. The mall now generates more than $4 million for the city annually.
“Torrance has the second-highest tax revenue in the county and a good deal of that is based on what Del Amo has brought to the city,” said City Councilman Dan Walker. “Revitalizing and upgrading the mall is essential and we want to be part of improving it.”
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