by zapolski | May 2, 2012 | Uncategorized |
From North Bay Business Journal NAPA — A major proposed redevelopment of 156,000-square-foot shopping center in the heart of downtown Napa will go forward after the Napa City Council unanimously approved a 20-year plan to guide the area’s development and the months-long suitor for the property purchased it. The acquisition of Napa Town Center by NTC Shops, LLC., hinged significantly on the finalization of the Downtown Napa Specific Plan, according to an announcement from the buyer. The mall is expected to reopen as The Shops at Napa Center in 2013. Zapolski Real Estate, LLC, is coordinating redevelopment. “From a timing perspective, the passage of the Downtown Specific Plan was critical to getting our deal done,” said Todd Zapolski, founding and managing member of Zapolski Real Estate, in a statement. “As well, there is a broad-level buzz about the revitalization of downtown Napa, and this redevelopment will play a key role in furthering that.” The area involves an outdoor shopping area and three adjacent parcels that run along two city blocks of First Street, along with the multi-tenant Dunne Building that Zapolski purchased in October 2011. Napa Town Center has had high commercial-space vacancy in recent years. Current tenants include Ben & Jerry’s, Gillwoods Café, GNC, McCaulou’s, Mustard Seed Clothing Co., Napa Valley Jewelers and Napa Valley Toy Company. The Kohl’s department store adjacent to the center was not purchased. The first aspects of physical redevelopment are set for completion in late 2013. The planned aesthetic reflects “the modern agrarian feel that is authentic to Napa,” according to the developer. The new configuration will also include kiosk-type spaces that will...
