A mall project south of Market in San Francisco has stalled, centered on an 87,000-square-foot IKEA store.
The opening date of the five-story Livat shopping center at 945 Market Street has changed againAccording to the San Francisco Business Times.
While the Netherlands-based home improvement company is “intensifying construction,” the opening day Postponed from May target, a spokesperson for IKEA in the US told the paper. It was originally planned to open in the fall of 2021.
From IKEA sister company Ingka Centers Bought a 250,000-square-foot shopping center for $198 million In October 2020, the project faces multiple delays blamed on construction, including $10.6 million redesign Launched last summer.
IKEA and its development arm have given conflicting timelines for the project, The Business Times reported.
Ingka Centers late last year predicted the mall would open later this year. In February, IKEA said it would open this spring.
The conglomerate, which has Swedish roots, declined to provide a new opening date.
“Our timetable has been pushed back to ensure we have the best possible shopping experience for our customers,” a US spokesperson said. “We look forward to sharing more about the grand opening of IKEA San Francisco in the coming months.”
A new downtown mall contrasts with the closure whole foods and cocoa republicand the pending Nordstrom and Nordstrom Rack, Poor street conditions and property crime were cited among them.
The furniture giant will Add 17 stores in the next three years IKEA added 51 stores and two planning and order centers to its portfolio thanks to a $2 billion investment from Ingka Holding BV, the largest owner and operator of IKEA stores.
Livat Mall will be dominated by 87,000 square feet of IKEA stores, with the remaining 163,000 square feet occupied by shops, restaurants and entertainment tenants. Livat means “lively party” in Swedish.
Developer Ingka Centers Program Add a sustainable food hall called Saluhall, focusing on Nordic specialties: baked goods, beer, burgers and ice cream. Ingka declined to name other potential retail tenants, The Business Times reported.
New York partner company Industrious A planning application was submitted to occupy 45,600 sq ft on the fifth floor of the mall.An “adult miniature golf facility” project called The Puttery explores the site with support from professional golfer Rory McIlroy but faded Possibility of leasing.
The mall’s original developer, Cypress Equities, sold the property to Alexandria Real Estate Equities and TMG Partners in 2019 for $179 million. They plan to create a space for life sciences within the mall.
— Dana Bartholomew
