Developer Jan Sweetnam felt sweet gratification as soon as he pulled up to his company’s El Segundo property at 8 a.m. Thursday — a mother and her child were laughing and playing in the grassy plaza.
“Not often do you see (a project) on paper, and you see it in reality and it’s even better than you could have imagined,” said Sweetnam, the vice president of Federal Realty Investment Trust. “This looks and feels better. It smells better. It really turned out much brighter, much crisper than I ever could have imagined.”
The Point, an $80 million outdoor shopping and dining center next door to Plaza El Segundo, opened to raucous applause from shoppers, business owners and city officials Thursday, seemingly delivering on the developer’s promise to provide the South Bay’s new gathering place.
• Photos: A closer look at The Point in El Segundo
An upscale assortment of retail shops and up-and-coming restaurants in dark gray, mahogany and bright orange buildings surround a lush, central plaza of palm trees and fountains. The plaza is dotted with cushy couches and chairs, a fire pit, and a large lifeguard station for kids to play on.
“This is what the South Bay needed,” said Raquel Camassa of Redondo Beach, pushing her 10-week-old baby in a stroller around the grounds. “It’s really beautiful. Kids will be here toward the fountain. There are plenty of places to sit and have shade. And kids can run around and not get lost.”
Friends Kat McLead and Mandi Moore kept watch as their toddlers fiddled with a foosball table next to the plaza. The moms had already planned their next girls’ day at The Point.
“I think it’s really pretty,” McLead said. “I’m surprised by the unusual (Portraits of Hope) artwork. I didn’t expect that. It’s bright and it’s fun. The chairs are comfy, and our kids are having fun.”
This is what developer Federal Realty Investment Trust had in mind when they proposed a nontraditional shopping center, dubbed as the area’s future “living room.”
Stores and events
Not only will the center at Sepulveda Boulevard and Rosecrans Avenue be home to 30 high-end retailers and restaurants, such as Athleta, Michael Stars, SoulCycle, ShopHouse and True Food Kitchen, but it will serve as a local event venue. Concerts throughout the summer, parties and movie events are already booked at The Point’s plaza.
Premium denim company, Lucky Brand, opened a one-of-a-kind flagship store Thursday, double the size and offerings of its typical store.
Each store in The Point is an architectural masterpiece, observers said, with Lucky as no exception. A turquoise and chrome Triumph motorcycle suspended from the ceiling, the flagship store features a front entrance that rolls open like an antique garage door, a glass and steel life-size jewelry box and a denim conveyor belt near the ceiling, circling the entire store.
“Every time I come to (The Point), I don’t want to leave,” said Lucky Brand CEO Carlos Alberini. “The grounds are amazing. The architecture is beautiful, and there’s an enviable mix of restaurants and brands. The shopping promises to be extraordinary.”
Alberini said the Lucky Brand customer, like many in the South Bay, is very time constrained.
“They like to exercise, shop, eat and even socialize with their families in one place,” he said. “There aren’t many options that offer that type of environment today, especially if you think of the traditional mall environment. The Point offers all that and more. It’s a one-of-a-kind piece of property.”
Twelve retailers and restaurants opened Thursday, including a Manhattan Beach, family-owned favorite, Bella Beach Kids, along with No Rest for Bridget, Marmi, Lou & Grey, North Italia and the Vicara AVEDA salon. Another 11 storefronts will debut on a rolling basis — Hopdoddy Burger Bar, Kit & Ace, Madewell, Mendocino Farms, Planet Blue, Prana, Simms Craft Shack, SIX:02, Smitten ice cream and Superba Food + Bread.
Patio restaurants
Every restaurant — either the first in its market or the first to Southern California — will have an outdoor patio, the developer said. Also included on the site is 25,000 square feet of second-floor office space overlooking the plaza.
First-time visitors walked around the center Thursday oohing and aahing at every detail of the plaza, mouths agape as they entered each store.
“The partners transformed a former industrial location into an architecturally stunning, vibrant retail and dining location,” said Mayor Suzanne Fuentes. “Plaza El Segundo (the sister development) set the bar high with diverse retail. The Point continues the tradition with a spectacular collection of shops and outdoor spaces.”
On Thursday, Fuentes, on behalf of the city of El Segundo, presented Federal Realty and The Point with the 2015 Champions of Business Award, given each year to a business whose efforts raise the profile of the city. El Segundo set a goal to welcome at least 100 new businesses to the city by 2017, the city’s 100th anniversary, Fuentes said. The city, which is in the midst of more than $1 billion in active and planned development, is known for offering one of the region’s lowest utility tax rates, attracting many high-tech and creative companies.
Extra parking
With plans for an overhaul of the Manhattan Village shopping center across the street and the October unveiling of the massive Del Amo Fashion Center remodel, one might question how successful The Point can become.
But Sweetnam said the company has a unique vision — as simply “a fun place to go,” where you can relax, be in the moment and truly enjoy the pleasure of shopping and dining, not rush in and out.
“When you look at our competitors, parking can be difficult,” he said. “That’s why we wanted to oversupply the parking here. We have the highest ratio of parking in the market. We wanted it to be easy for customers to get here and find parking. We want it to be a place that feels comfortable, that feels warm and inviting. It feels like your backyard.”
Opening weekend events
The Point will offer several free opening weekend events in its plaza, starting with a SoulCycle cycling experience from 11:30 a.m. to 2:30 p.m. today. This evening, a free outdoor concert starring an Eagles tribute band, The Long Run, will take place from 6 to 8 p.m. On Saturday, starting at 9 a.m., Karena and Katrina, the stars of the Bravo reality TV show “Toned Up,” will host a motivational workshop and exclusive book signing, offering guests tips and tricks on attaining a summer physique. The weekend will conclude with an outdoor showing of the movie “Home,” along with free popcorn and cocktail specials, beginning at 7:30 p.m.
Every Wednesday, from August through September, the Point will offer free outdoor tribute concerts from 6 to 8 p.m.
