DJM Capital Partners announced today that it has acquired approximately 11 acres for the retail and hotel portion of the planned mixed-use, Pacific City development from Crescent Heights. Consistent with the entitlements, the company plans to develop on the original footprint and with almost 6.5 acres for 191,000 square feet of open air retail, restaurants and entertainment and four acres for an eight-story hotel. DJM has re-imagined the design of the retail and hotel components of Pacific City to embrace the iconic Huntington Beach lifestyle and premier oceanfront location.
“We have a rare opportunity to create an exceptional oceanfront destination in one the world’s most recognized beach cities – ‘Surf City USA®.’ Our vision is to bring quality retail and dining that appeal to residents and visitors and do it in a way that reflects the essence of the area. It will be casually sophisticated and environmentally sensitive with an eclectic mix of retailers and restaurants that are both local and global,” said Lindsay Parton, president, DJM Development Partners, Inc., an affiliate of DJM Capital Partners, Inc. The company is already established in Huntington Beach as it is the owner of Bella Terra, an 800,000-square-foot retail center set on 44 acres with more than 70 shops and restaurants. The company is currently building a mixed-use addition – The Residences at Bella Terra.
DJM’s Pacific City property is south of the Huntington Beach Pier along Pacific Coast Highway. Retail and restaurants will be situated in multiple two-story buildings set around a meandering central pedestrian street dotted with plazas and open areas along Pacific Coast Highway to capture the ocean views and breezes. An abundant use of glass, overlooks and setbacks will enhance the light, airy and modern feel of the property. It will feature sustainable design in the building materials and landscaping and use a natural color palate that reflects and complements the beach environment. The hotel, set on the southern end of the site, will also incorporate the same sustainable design, landscaping program and color scheme as the retail development. It will also maximize the one-of-a-kind location with ocean views throughout including guest rooms, pool deck, common areas and public spaces.
“Every opportunity to create view corridors has been incorporated into the design. Standing on the property the salt air reminds us that the ocean is our anchor around which the retail and hotel revolves,” added Parton.
DJM has engaged the Jerde Partnership as design architect, Lifescapes International as the landscape architect and SMS as the executive architect. DJM will soon submit its aesthetic designs to the City of Huntington Beach for review and approval.
About DJM Capital Partners, Inc.
Founded in 1992 by D. John Miller, DJM Capital Partners, Inc. is a leading private equity real estate investment group that focuses on enhancing undercapitalized real estate assets. DJM provides its own development and asset management services. With expertise encompassing nearly all product types, DJM’s West Coast portfolio is valued in excess of $1 billion. Known for its aggressive growth strategy and entrepreneurial investment approach, DJM specializes in identifying and acquiring undervalued commercial properties throughout California. Additional information is available at www.djmcapital.com.