The median household income within 3 miles is $132,521. “When I looked at Kaleidoscope, my feeling was, ‘This is gonna work,’” he said.Īnd the center has good demographics to back him up, with 425,000 cars passing by every day – second in the region behind the Irvine Spectrum, according to Sentinel Development, which manages the property.
#KALEIDOSCOPE MISSION VIEJO WINDOWS#
He has plans to open windows in the back, which should give customers the feeling of standing over the city.
While Kaleidoscope might not conjure trendy boutiques and artisanal cheese shops, Young sees potential.ĭuring a recent tour of the now-vacant gym space, he pointed to a long bank of windows on one side, which he’s converting to industrial-style doors that will open to al fresco dining. For example, Young couldn’t sign a pizza or sushi restaurant that would compete with longtime tenants Riptide Rockin’ Sushi & Teppan Grills or Rocco’s Pizzeria, the landlord said. When it comes to signing tenants, Young handles that under his master lease, but the landlord will make sure no tenants are violating exclusive non-competing agreements. Sentinel Development CEO Colby Durnin compared Young’s concept to a mall within a mall – adding that turnover and vacancy are expected. “I could rent these things out right away.” “I’ve turned down 15 different people for those spaces because our goal … is to fill it with what we think is better,” he said. When asked if he’s having issues recruiting for the center, he said if anything, there are more interested vendors than he can fit. Young said he’s not worried about filling the Union Market in Mission Viejo. Well-regarded restaurateur Leonard Chan told the Register he pulled his restaurants from the Tustin project and the Kaleidoscope market. The Youngs’ Union Market Tustin at The District ran into tenant issues early in the year as key restaurants pulled out. Can Kaleidoscope mall shake its troubled history? – Orange County Register
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