Lido Marina Village observed its soft opening recently by serving free artisanal ice cream while children played with toy boats on one of the decks of the Newport Beach, Calif., retail center.
Later this month, the new retail site is holding a grand opening as it hopes to attract the affluent client who shops Orange County’s dominant malls—South Coast Plaza and Fashion Island.
DJM Capital Partners Inc., the shopping center’s developer, believes that Lido Marina Village will attract customers in this ultra-competitive market because the compact, 116,000-square-foot retail district is unique with its waterfront property and marina views around Newport Beach’s coast.
Huntington Beach, Calif. — DJM Capital Partners has completed the development of Phase I of Pacific City, a mixed-use development located in Huntington Beach, California.
Phase I of the project features 191,000 square feet of retail, 100,000 square feet of outdoor community space and 400,000 square feet of on-grade and subterranean parking. An eight-story, four-star oceanfront hotel named Pasea also opened at the property this year.
A once-thriving shopping and dining area in Newport Beach that fell victim to increased retail competition, changing tastes and a recession has quietly been springing back to life.
Opened more than 40 years ago, Lido Marina Village once boasted Red Skelton’s art gallery (local resident Buddy Ebsen also showed his work there), a shop that sold hologram objects, The Warehouse Restaurant, Magic Island club (similar to Hollywood’s Magic Castle), and of course, Lido Books.
Handmade gelato popsicles, Australian meat pies and spaghetti grilled cheese sandwiches.
They are all available at Lot 579, a food hall that opened this summer at the Pacific City development in Huntington Beach. It is named after the three lifeguard towers across the street, and it boasts about a dozen unique fast-service restaurants.
DJM Capital Partners specializes in special properties. The company, which has a knack for acquiring and repositioning undervalued assets, has most recently focused on two oceanfront Orange County, California, retail properties that encountered difficulties under previous owners.
Lido Marina Village’s fashionable facelift is on a roll. On top of scoring Steven Alan’s first OC outpost, the walkable waterfront property is also adding girl crush designer Jenni Kayne and boho wonderland Planet Blue to its directory revamp.
Nobu, the international Japanese restaurant empire known as much for its high-end clientele as its fresh fish, is finally coming to Orange County. But instead of building out a standalone space with ocean views somewhere high up on a cliff, they’re actually helping to revitalize one of Newport Beach’s biggest secret blights.