An $18 million mixed-use development in Rancho Cucamonga, Calif., has received approval from the local planning commission. Marketplace Properties will begin construction this summer on a seven-acre hotel and retail project near The Ontario Mills, one of Southern California’s top tourist and shopping destinations.
The 98,000 sq. ft. Town Place Square project will be anchored by Marriott TownePlace Suits Hotel. It also will include an 8,400 sq. ft. retail complex.
The developer hopes that Ontario Mills’ success will be replicated at Town Place Square, which aims to attract a similar volume of retail traffic. “This is a key intersection for development as there is already substantial critical mass for retail,” says Michael Rue, president of Marketplace Properties.
According to Rue, more than 22 million people visit the Ontario Mills area annually. There also are more than 500 new hotel rooms planned within walking distance from Town Place Square. Grubb & Ellis is leasing agent for the Town Place Square project.
