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The city of Riverside will be the future home of Canyon Crossings, a $120-million, 90-acre, mixed-use project.
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Canyon Crossings will have more than 740,000 sq. ft. of "big-box retail," and be anchored by a 230,000-sq.-ft. Wal-Mart Supercenter. The $120-million project includes two, three-story, 72,000-sq.-ft. Class A office buildings(rendering courtesy of Transcan Development).
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Developed by Alamo-based Transcan Development LLC, the project will have more than 740,000 sq. ft. of "big-box retail," and be anchored by a 230,000-sq.-ft. Wal-Mart Supercenter; a 50,000-sq.-ft. John's Incredible Pizza; L.A. Fitness; Wickes Furniture; Staples; and two, three-story 72,000-sq.-ft. Class A office buildings.
"Canyon Crossings is being built to take advantage of a growing population looking to work, shop, dine and relax in one convenient location," said Robert J. Bahen, president and CEO of Transcan. "The project will redefine shopping patterns within Riverside County.
Bahen said Canyon Crossings is expected to generate about $20 million a year in sales tax revenue.
Located at the junction of Interstate 215 and Highway 60, the project was designed by MCG Architects of Pasadena and Designers Collective of Lafayette.
Newport Beach-based Summit Builders is serving as the general contractor.
Construction began in August. Mass grading has been completed and foundation work is underway. Stores will begin opening between February and August, Bahen said.
"The Canyon Springs area provides an excellent opportunity for retail development due to the thousands of homes that have been built in eastern Riverside over the last few years," said Kevin Palmer, economic development manager for Riverside.
In Temecula, at the southern end of the Inland Empire, Transcan is developing another mixed-use project, Winchester Commercial Center.
The $20-million venture will boast 70,800 sq. ft. of commercial office and medical buildings ranging in size from 5,000 sq. ft. to 22,000 sq. ft. Approximately 12,500 sq. ft. will be allocated to retail use.
"With Temecula's rapidly growing population, there is a high demand for quality office space," Bahen said. "This site is a prime location with easy access to Interstate 15 and the surrounding counties."
Sitting on 8 acres at the northwest corner of Winchester Road and Willow Springs Avenue, the project is also being built by Summit Builders and was designed by Designers Collective.
The center is expected to break ground in the first quarter of 2006 and is scheduled to complete in late fall of 2006.
Click here for more on the Inland Empire Market Report>>
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