Westfield Valley Fair

Westfield Valley Fair, commonly known as Valley Fair, is an upscale shopping mall in San Jose, California, in Silicon Valley, owned by Unibail-Rodamco-Westfield. It is located on Stevens Creek Boulevard in San Jose and Santa Clara, one of Silicon Valley's premier shopping streets and nearby Santana Row.

Westfield Valley Fair
LocationSan Jose, California, USA
Address2855 Stevens Creek Boulevard San Jose, CA 95050
Opening date1986 (1986)
DeveloperThe Hahn Company
ManagementUnibail-Rodamco-Westfield
OwnerUnibail-Rodamco-Westfield
No. of stores and services236 [1][2]
No. of anchor tenants4
Total retail floor area2,200,000 sq ft (200,000 m2)[2]
No. of floors2 (3 in Bloomingdale's, Nordstrom and Macy’s)
Parking8,500 [2]
Websitewww.westfield.com/valleyfair/

Westfield Valley Fair is one of the largest malls in the United States and has the highest-sales volume in California, with $1,150 per square foot.[3] The shopping center consists of 273 stores, a seventeen-outlet food court, nine restaurants, and three department stores.

History
Westfield Valley Fair's Grand Valet & Steven's Creek Boulevard Entrance

Westfield Valley Fair is unique in that it replaced two separate 1950s-era shopping centers. The original Valley Fair Shopping Center, opened in 1956, was confined to the eastern side of the property in San Jose. It was developed and anchored by Macy's and included roughly 40 other stores including Joseph Magnin in an outdoor plaza. At the western side was another outdoor shopping center, Stevens Creek Plaza in Santa Clara. It was anchored by The Emporium and I. Magnin. For that reason, the current mall contributes sales tax revenues to both the cities of San Jose and Santa Clara, and is regulated by both city governments.

In 1986, both centers were acquired and merged into one two-level enclosed mall by The Hahn Company, creating one of the most successful shopping centers in the country, called simply "Valley Fair". Nordstrom joined later in 1987, with I. Magnin closing its store in 1992. The former Emporium store became a second Macy's location in 1996, housing Macy's Men's & Home Store. The former I. Magnin housed a succession of tenants, its final one being Sports Authority, and its building sits vacant. It will be demolished, along with the former Old Navy building, as part of the mall's upcoming expansion.

In 1998, Westfield America, Inc., a predecessor of the Westfield Group and The Rouse Company acquired Valley Fair jointly from Hahn. Westfield bought out Rouse in 1999 and brought in an institutional investment partner to share its investment risk in this high-profile property. In 1998 the property was renamed Westfield Shoppingtown Valley Fair. Nordstrom replaced its location in 2001 during the grand opening of a new $165 million, two-phase redevelopment. The former Nordstrom reopened as additional mall retail space in the second phase in 2002. Westfield discontinued the "Shoppingtown" moniker in 2005.

A major remodel of the center commenced in 2013, bringing the mall a revamped "Dining Terrace" with local concepts alongside national chains, and a major reshuffling of tenants.[4] Nordstrom was extensively remodeled, adding two new restaurant concepts and a completely revamped store design.[5] The mall's lower level Nordstrom wing was reconfigured into a "Luxury Collection", with new luxury tenants like Balenciaga, Mulberry, Saint Laurent Paris, Bottega Veneta, Versace, Giorgio Armani, Tory Burch, Salvatore Ferragamo, and Prada joining existing tenants Louis Vuitton and Tiffany & Co..[6]

In 2012, San Jose raised its minimum wage to $10 USD an hour, but Santa Clara did not, leading to what the NPR Planet Money team dubbed "A Mall Divided," where workers on one side of the mall were being paid $2 less than the other side. A Gap clothing store located on the two city lines was required to either account for how long its employees spent in each city or raise its wages for all employees to the San Jose minimum wage; they chose to raise the wages.[7]

Expansion
The San Jose location of Din Tai Fung, ranked as one of the world's best restaurants by the New York Times.

In 2007 Westfield announced major expansion plans which would increase the gross leaseable area to over 2,000,000 square feet (190,000 m2), adding anchor stores Bloomingdale's and Eataly, 100 shops, and a 3000 space parking structure. Westfield was granted approval for the expansion by the city of San Jose in November 2007. It was to be completed by September 2011.[8] However, the expansion was put on hold in 2008 due to the global recession.

In Spring of 2015, Westfield unveiled new plans for a $1.1 billion expansion:[9]

  • A three-level, 150,000 square foot Bloomingdale's department store[10], which opened on March 5th, 2020[11]
  • A Showplace ICON luxury cinema[12]
  • 500,022 square feet of new interior shop space, adding 100+ new stores[13]
  • An outdoor Restaurant Collection fronting Stevens Creek Boulevard[14]
  • More than 3,000 new parking spaces[13]
  • Relocation of the Chase and Bank of America banks
  • Brand new Apple flagship retail store[15]
  • Eataly will open a 51,000 square feet location, opening in 2021[16]
  • An expanded Luxury Collection, hosting brands such as Gucci, a Flagship Tiffany & Co., Bvlgari, and more[17]
  • A state-of-the-art digitally native vertical brands (DNVBs) precinct, The Digital District[18]

Construction of the expansion began in 2016, with the new parking garage being completed in Fall of 2016.[19] The expansion is complete as of March 5th, 2020.[20].

References
  1. https://www.westfield.com/valleyfair/stores/all-stores
  2. "Westfield Valley Fair". Westfield Group. Retrieved 2020-03-05.
  3. http://www.bizjournals.com/sanjose/news/2015/05/14/inside-westfields-big-plans-for-its-600m-valley.html?page=all/
  4. http://www.bizjournals.com/sanjose/news/2013/07/10/here-is-what-westfield-valley-fairs.html
  5. http://www.bizjournals.com/sanjose/news/2013/04/01/nordstrom-valley-fair-getting-fresh.html
  6. http://hauteliving.com/2014/09/luxury-wing-adds-pizzazz-westfield-valley-fair/523730/
  7. "Episode 562: A Mall Divided". NPR. 2014-08-22.
  8. https://www.mercurynews.com/2008/09/11/bloomingdales-neiman-marcus-to-open-stores-at-valley-fair-in-2011/
  9. https://www.westfield.com/valleyfair/vision
  10. http://www.bizjournals.com/sanjose/news/2015/01/12/update-bloomingdales-revives-westfields-valley.html?page=all
  11. https://www.mercurynews.com/2020/02/06/heres-when-bloomingdales-will-open-at-westfield-valley-fair/
  12. http://www.bizjournals.com/sanjose/news/2015/02/12/westfield-valley-fair-in-line-for-ultra-upscale.html?page=all
  13. http://www.bizjournals.com/sanjose/news/2015/05/14/inside-westfields-big-plans-for-its-600m-valley.html?page=all
  14. US, Westfield (2020-03-05). "WESTFIELD VALLEY FAIR EXPANSION OPENS REIMAGINED SHOPPING DESTINATION IN THE HEART OF SILICON VALLEY". GlobeNewswire News Room. Retrieved 2020-06-03.
  15. https://www.bizjournals.com/sanjose/news/2019/05/24/apple-agrees-to-big-flagship-store-at-san-jose-s.html
  16. https://sfist.com/2019/12/17/eataly-to-open-first-bay-area-location-in-san-jose/
  17. US, Westfield (2020-03-05). "WESTFIELD VALLEY FAIR EXPANSION OPENS REIMAGINED SHOPPING DESTINATION IN THE HEART OF SILICON VALLEY". GlobeNewswire News Room. Retrieved 2020-06-03.
  18. "Westfield Valley Fair's expansion includes 'digital district'". Chain Store Age. Retrieved 2020-06-03.
  19. https://www.sanjoseca.gov/home/showdocument?id=25609
  20. https://www.urw.com/en/website~o~content/assets/shopping~o~centre/westfield-valley-fair-extension/portfolio

Media related to Westfield Valley Fair at Wikimedia Commons

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.