There are new mixed-use retail developments currently in the works throughout the country that are specifically focused on creating a river-adjacent element in order to take advantage of the underutilized waterfront views that would appeal to local residents, office workers and visiting tourists alike.
Three particular projects — River District in New Orleans, Riverpointe in Saint Charles, Mo., and Riverwalk San Diego — have either recently broken ground or will begin construction by the end of the year, and all contain a waterfront-facing development aspect that overlooks a natural river source. These developments create a new walkability destination filled with restaurants, stores, entertainment, residences and, in some instances, offices.
River District
The neglected vacant 39-acre riverfront area adjacent to the convention center that overlooks the Mississippi River in New Orleans is slated to become a $1B mixed-use development that will feature 115,000 s.f. of shops, entertainment venues and restaurants. Topgolf is the first retail tenant announced for the River District and is expected to open by 2025. Other sought-after tenants include a movie theater, a music venue and a boutique hotel. A buzzed about potential upcoming tenant is the United Soccer League Stadium, which is garnering grassroots support from the community. The city of New Orleans is also negotiating for a possible permanent Civil Rights Museum concept within the development.
The River District project, which will break ground this November, is being developed by RDNI (River District Neighborhood Investors LLC), an entity consisting of investors such as Lauricella Land Company, Cypress Equities, Gensler, JCH Properties and Brian Gibbs Development, among others. The overall plan will also include 400,000 s.f. of office space and 900 housing units, half of which will be affordable/workhouse housing.
In addition, a 160,000-sf. historical power plant consisting of seven buildings alongside the river, which has not been in operation since 1984, will be redeveloped into a tourist site, with experiential-oriented entertainment tenants, shops, restaurants, a hotel and even unique office spaces. An overseas-based concept, such as Tomb Raider: Live Experience, is rumored to be a potential experiential tenant within the refurbished power plant. The River District expects to attract both local residents, as well as tourists, especially those visiting the convention center and the city’s French Quarter, located about a mile away from the site.
Riverpointe
The 120-acre, $350M Riverpointe mixed-use development began construction last year, and is part of a larger 325-acre project that aims to connect six different entertainment-oriented boroughs through a five-mile riverwalk that will run alongside the Missouri River. Four of these boroughs are already completed; Riverpointe is the fifth one. The riverwalk will ultimately connect two existing destinations at either end: the 130,000-s.f. Ameristar Casino Resort Spa and The Family Arena, a 10,000-seat sports and concert venue. The Riverpointe portion of the development is especially noteworthy because it will involve converting a swampy marsh section of the river into a seven-acre enclosed lake for such activities as paddle boating and kayaking. There will also be a pedestrian bridge that connects the Riverpointe development to a 160-acre island within the river, called Banhert Island.
Developed by CRG, the mixed-use development will consist of 100,000 s.f. of restaurants and retail, approximately 500 apartments or condos, as well as hotels and office buildings.
Chicken N Pickle confirmed that it will occupy a massive 100,000-s.f. space in the project and hopes to open by the end of this year. The Riverpointe developers are optimistic this tenant will jumpstart other nationally known entertainment-oriented retailers, shops, high-end restaurants, bars and hotels to also sign leases in the riverfront project. The ideal demographic targeted is the millennial-aged population, and the riverfront project aims to not only provide a new live/work/play base for this audience, but to also turn the city of Saint Charles into a multi-day vacation destination for both tourists and those visiting the nearby convention center.
Riverwalk San Diego
The $3B, 195-acre mixed-use Riverwalk San Diego project, being developed by Hines Interest Limited Partnership and USAA Real Estate, will occupy both sides of the San Diego River in the city’s Mission Valley neighborhood. The project broke ground in September of last year and is expected to be completed in 15 years. The project will consist of 152,000 s.f. of retail space, 4,300 multifamily residences, up to one million s.f. of Class A office space, a new trolley stop with a town square and main street element, 97 acres of park space, and an extended pedestrian walkway trail along the river. Much of the project will take over the Riverwalk Golf Club, which has recently been reduced to nine holes from its previous 18 holes, and expects to permanently close by 2028.
The Riverwalk’s first phase is anticipated to be done by Q1 of 2025, and will include 75,000 s.f. of retail, some of which will include riverfront views. Tenants targeted include fitness studios, specialty fashion boutiques, wellness brands, pet care stores, breweries/bars, as well as full-service, fast-casual and grab-and-go restaurants, both nationally known and regional. Barons Market, a locally known organic specialty grocer, is the first retailer signed on to open a 15,000-s.f. store by late 2025/early 2026. The first phase will also incorporate a two-acre central green park space, as well as 930 apartment/townhome units in five buildings, with 100 units set aside for low-income families. The residences will offer features such as a wine bar, dog parks, golf simulators, co-working spaces and a 10,000-s.f. indoor/outdoor gym. Riverwalk aims to attract young professionals and families who want a convenient, transit-oriented, walkable live/work/play environment.
