Westfield Group proposed this week to demolish one of the original anchor deparment store buildings at the iconic Horton Plaza shopping center in San Diego and give the space back to the city for use as a 1.5 acres, Times Square type gathering space.
In return the city would cancel the last 25 years of a profit sharing agreement with Westfield--worth about $1.8 million this year and Westfield would maintain & manage the larger park for 25 years, holding at least 208 special events annually.
The retooling plan for Horton Plaza comes 25 years after it opened to national acclaim in 1985 as a major innovation in downtown San Diego retailing.
If all goes as proposed the completion date is expected to be about 2014.
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