Great news for those who live in or near University City—the vacant Sears located at Westfield UTC is soon to be replaced not by another department store, but by a large shopping and entertainment complex named “The Collection.”
The Collection will occupy a total of 226,000 square feet, and is being developed by Seritage Growth Properties and Invesco Real Estate. As is in vogue nowadays with shopping centers, this one will not just offer stores, but will also host a number of restaurants and entertainment businesses (around 20-25 in total). The most prominent will be the Equinox health club.
The complex will consist of two structures, one with three floors and the other with two. The space between them will be an outdoor “corridor.” The third floor in the north structure will be dedicated in its entirety to Equinox.
This is just one of a number of impressive renovations which have come to UTC in recent years. Back in 2012, $180 million went into enhancing food and entertainment at the mall, while another $600 million went in this year to add even more dining options.
With these improvements and the introduction of The Collection, Westfield UTC will offer even more value to University City residents as well as those living in nearby neighborhoods like Sorrento Valley, Torrey Pines, Miramar, La Jolla, and Clairemont. This may very well help to bolster real estate prices in the immediate area, which will be great for sellers as well as those who wish to purchase homes as investments.
If you are interested in moving into the University City area, Maureen Martin can help you to apply for a mortgage with a competitive interest rate. Please call 619.857.7191 today to get started. Once you move into your University City home, you will be able to enjoy being located close to The Collection and the other conveniences of Westfield UTC.