From a big box store to a $115M adaptive reuse project
by tanya_martins | December 23, 2024 10:54 am
[1]The Commons, a vibrant mixed-use community, is a reimagination of a former vacant Lowes big box store.
ValueRock Realty, a national real estate investment and operations company, repurposed the former store into an 8.4-ha (21-acre) mixed-use project in Aliso Viejo, Calif.
The project features 18,580-m2 (200,000-sf) of retail space and a proposed 343-unit luxury residential project.
The $115-million adaptive reuse project is a new model that can be replicated anywhere in the U.S. With its destination retailers, it will boost the local economy and add many new jobs and customers who might otherwise shop outside Aliso Viejo. ValueRock is also investing more than $9 million towards further development.
Construction of the project began in 2023 and reached completion in late 2024.
- [Image]: https://www.constructionspecifier.com/wp-content/uploads/2024/12/The-Commons-1.jpg
Source URL: https://www.constructionspecifier.com/from-a-big-box-store-to-a-115m-adaptive-reuse-project/