BLOG: Happy birthday to Marketplace at El Paseo
Ten years ago this week, Fresno’s fastest-growing shopping center got off to a “modest” 300,000 square-foot start with a new Target, Ross, Petco, Burlington, Marshall’s and more.
Rich Development, Gryphon Capital and N3 Real Estate partnered on the $74 million Marketplace at El Paseo development at Highway 99 and Herndon Avenue. They hosted a breakfast and ribbon cutting on March 10, 2014, to celebrate the grand opening of the project that was expected to generate nearly $10 million in annual tax revenue.
In the decade since, Marketplace at El Paseo has doubled in size to more than 650,000 square feet, adding several eateries and retailers as well as a Regal movie theater. Some 11 new stores are expected to open there by this summer, reported ABC 30, with traffic circulation made easier by the long-anticipated opening of the $140 million Veterans Boulevard project.
Traffic will continue to be a sticking point for development in that part of Fresno, with a nearby Costco proposal recently delayed by the Fresno City Council.