In 2007 the Temecula Redevelopment Agency partnered with Forest City to expand the Promenade Mall. The expansion consisted of many new shops including well known brands such as Apple, Pottery Barn, Coldwater Creek, P.F. Changs, Yard House, Coach, and Sephora. The project also included two new parking structures totaling 936 new parking spaces. The Temecula Redevelopment Agency pledge $11 million to help bring the Mall expansion to fruition. The Redevelopment Agency’s funds specifically went towards the construction of the parking garage on the east side of the mall
This project was viewed as a very important piece of economic development that would bring many new jobs to the City. These jobs could not have come at a more crucial time for the community. As the region and nation as a whole descended into recession in 2007, and companies began cutting back on their workforces, the partnership between Forest City, a private company, and the Redevelopment Agency guaranteed that the more than $100 million in investment that Forest City was making in the Temecula community would move forward.
A spokesman for the Mall owner stated, “As a result of this Redevelopment investment, hundreds if not thousands of jobs were created on both the capital/construction side as well as now on the operating side and in the retail stores.” These jobs provided good paying employment throughout the worst recession in 80 years. While other projects that relied solely on private funds stalled and were abandoned the Promenade Mall expansion moved forward in large part due to the fact that your locally generated tax dollars stayed local and went to work for your benefit right in your community.
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