{"id": "n-b8babc581c", "slug": "santa-barbara-paseo-nuevo", "type": "mall", "name": "Paseo Nuevo", "aka": [], "city": "Santa Barbara", "county": "Santa Barbara County", "state": "CA", "country": "US", "census_division": 9, "lat": 34.42213, "lon": -119.70267, "geocode_method": "nominatim-city", "address": null, "metro": null, "original_use": "shopping center", "year_opened": 1990, "year_closed": null, "acres": null, "gla_sqft": null, "stores_peak": null, "levels": null, "original_developer": null, "original_architect": null, "before_notes": "Draft from noozhawk.com, model-extracted, unreviewed: The Paseo Nuevo mall in Santa Barbara is being redeveloped, converting former anchor stores (Macy's and Nordstrom) into offices for Yardi Systems and 80-112 rental apartments, while retaining other retail, entertainment, and civic uses.", "strategy": ["redevelop", "reinhabit"], "new_use": ["civic", "entertainment", "housing", "office", "retail"], "share_retrofit": null, "status": "approved", "year_retrofit": 2027, "developer": "Yardi Systems, DSP", "architect": null, "after_notes": null, "narrative": null, "narrative_license": null, "narrative_source": null, "zoning_change": "yes", "public_subsidy": "yes", "entitlement_year": null, "planning_notes": "Approved by Santa Barbara City Council.", "wikidata_qid": null, "wikipedia": null, "osm_id": null, "verified": "draft", "verified_by": null, "last_verified": null, "last_updated": "2026-10-18", "created": "2026-10-18", "contributor_name": null, "contributor_org": null, "contributor_link": null, "international": 0, "county_fips": "06083", "opp_score": 10.0, "opp_reasons": ["already in play: under construction, approved, or sold to a developer with housing plans", "median rent $2,050", "housing in the record"], "for_sale": 0, "distressed": 0, "url": "https://retrofitatlas.org/malls/ca/santa-barbara-paseo-nuevo/", "events": [{"year": 1990, "date": null, "kind": "note", "detail": "Mall opened", "source_id": 8809}, {"year": 1990, "date": null, "kind": "opened", "detail": "Opened", "source_id": null}, {"year": 2017, "date": null, "kind": "note", "detail": "Macy's closed", "source_id": 8810}, {"year": 2020, "date": null, "kind": "note", "detail": "Nordstrom closed", "source_id": 8811}, {"year": 2024, "date": null, "kind": "note", "detail": "City declared property as exempt surplus land", "source_id": 8812}, {"year": 2027, "date": null, "kind": "note", "detail": "Construction planned to start", "source_id": 8813}, {"year": 2027, "date": null, "kind": "retrofit", "detail": "Retrofit: redevelop, reinhabit", "source_id": null}], "sources": [{"id": 8808, "site_id": "n-b8babc581c", "url": "https://www.noozhawk.com/city-council-oks-paseo-nuevo-redevelopment-that-will-forever-change-downtown-state-street/", "title": "City Council OKs Paseo Nuevo Redevelopment That Will Forever Change ...", "publisher": "noozhawk.com", "date": null, "quote": "Paseo Nuevo", "kind": "news", "license": null, "retrieved": "2026-10-18"}, {"id": 8809, "site_id": "n-b8babc581c", "url": "https://www.noozhawk.com/city-council-oks-paseo-nuevo-redevelopment-that-will-forever-change-downtown-state-street/", "title": "Timeline", "publisher": null, "date": null, "quote": "The Paseo Nuevo mall was developed with Redevelopment Agency money and opened in 1990", "kind": "quote", "license": null, "retrieved": "2026-10-18"}, {"id": 8810, "site_id": "n-b8babc581c", "url": "https://www.noozhawk.com/city-council-oks-paseo-nuevo-redevelopment-that-will-forever-change-downtown-state-street/", "title": "Timeline", "publisher": null, "date": null, "quote": "The Macy’s closed in 2017", "kind": "quote", "license": null, "retrieved": "2026-10-18"}, {"id": 8811, "site_id": "n-b8babc581c", "url": "https://www.noozhawk.com/city-council-oks-paseo-nuevo-redevelopment-that-will-forever-change-downtown-state-street/", "title": "Timeline", "publisher": null, "date": null, "quote": "Nordstrom shut down in 2020", "kind": "quote", "license": null, "retrieved": "2026-10-18"}, {"id": 8812, "site_id": "n-b8babc581c", "url": "https://www.noozhawk.com/city-council-oks-paseo-nuevo-redevelopment-that-will-forever-change-downtown-state-street/", "title": "Timeline", "publisher": null, "date": null, "quote": "In 2024, the city declared the property as exempt surplus land.", "kind": "quote", "license": null, "retrieved": "2026-10-18"}, {"id": 8813, "site_id": "n-b8babc581c", "url": "https://www.noozhawk.com/city-council-oks-paseo-nuevo-redevelopment-that-will-forever-change-downtown-state-street/", "title": "Timeline", "publisher": null, "date": null, "quote": "The goal is to start construction on both projects in 2027", "kind": "quote", "license": null, "retrieved": "2026-10-18"}], "deals": [{"id": 531, "site_id": "n-b8babc581c", "kind": "sale", "date": null, "year": null, "acres": null, "sqft": null, "buyer": "Yardi Systems, DSP Santa Barbara Sub LLC", "seller": "city, Paseo Propco LLC (also known as AB Commercial)", "broker": null, "lender": null, "loan_maturity": null, "loan_status": null, "listing_url": null, "status": null, "notes": null, "source_url": "https://www.noozhawk.com/city-council-oks-paseo-nuevo-redevelopment-that-will-forever-change-downtown-state-street/", "source_title": null, "source_date": null, "quote": "Ownership of the properties will be transferred to DSP and Yardi Systems under the redevelopment agreements.", "verified": "draft", "retrieved": "2026-10-18"}], "parties": [{"name": "Yardi Systems, DSP", "kind": "developer", "role": "developer", "year_from": 2027, "year_to": null}], "parcels": [], "context": {"assessment": {"what_happened": "Paseo Nuevo (opened 1990) is approved for redevelopment starting 2027. Yardi Systems/DSP is the developer, with zoning change and public subsidy confirmed. Strategy is 'redevelop, reinhabit' to add housing, office, retail, and civic uses. The site was declared 'exempt surplus land' by the city in 2024 after anchor closures (Macy's 2017, Nordstrom 2020).", "why": "Approved by Santa Barbara City Council. Median rent $2,050 and housing focus are noted in opportunity reasons. No current vacancy rate or housing unit count provided.", "where_it_stands": "Construction planned to start 2027. Only mall within 10km (0.4km away).", "for_a_planner": ["Zoning change approved", "Public subsidy confirmed", "Housing component in new use"], "for_a_developer": ["2027 start date", "Housing market median rent $2,050", "No current vacancy data"], "risks_and_unknowns": ["Exact housing units not specified", "Current vacancy rate unknown", "Construction cost details not provided"], "data_quality": "partial", "one_line": "Approved 2027 retrofit: housing/office/retail on former mall site, developer Yardi Systems/DSP, city declared surplus land 2024.", "model": "qwen3-30b-a3b-64k:latest", "machine": "Dell 5820 RTX 3090 (Ollama, qwen3-30b-a3b)", "record_sha1": "e840295af7a6"}, "cluster": {"within_10km": [{"id": "n-dac787998b", "name": "Paseo Nuevo", "city": "Santa Barbara", "status": "proposed", "km": 0.4}], "count_10km": 1, "count_25km": 2}, "edgar": {"query": "Paseo Nuevo", "city": "Santa Barbara", "total": 38, "name_only_total": 6, "common_name": true, "sampled": 38, "latest": 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{"name": "ABERCROMBIE & FITCH CO /DE/  (ANF)", "cik": "0001018840", "n": 2, "first": "2017-12-04", "last": "2021-06-09", "forms": {"10-Q": 2}, "cmbs": false, "kind": "other", "sic": "5651", "acc": "0001018840-21-000041", "doc": "exhibit103-amendedandresta.htm", "adjacent": false}, {"name": "JONES APPAREL GROUP INC", "cik": "0000874016", "n": 2, "first": "2010-07-30", "last": "2011-04-28", "forms": {"8-K": 2}, "cmbs": false, "kind": "other", "sic": "2330", "acc": "0000950123-11-040836", "doc": "y90974exv10w1.htm", "adjacent": false, "sibling": true}, {"name": "GS MORTGAGE SECURITIES CORP II", "cik": "0001004158", "n": 1, "first": "2003-02-28", "last": "2003-02-28", "forms": {"8-K": 1}, "cmbs": false, "kind": "other", "sic": "6189", "acc": "0000914121-03-000239", "doc": "go700700-ex99.txt", "adjacent": false, "sibling": true}], "forms": {"10-K": 15, "8-K": 7, "10-Q": 7, "8-K/A": 4, "10-Q/A": 3, "10-K/A": 2}, "url": "https://efts.sec.gov/LATEST/search/#/q=%22Paseo%20Nuevo%22%20%22Santa%20Barbara%22&forms=10-K,10-D,8-K,10-Q,ABS-EE&dateRange=custom&startdt=2001-01-01", "retrieved": "2026-10-20", "v": 4, "adj": ["0000039911", "0000874016", "0000874214", "0000890319", "0000897429", "0001004158"], "adj_total": 17, "first_in_sample": null, "securitised": null, "vintage": null, "vintage_strong": false, "source": "SEC EDGAR full-text search"}, "elevation": {"elevation_ft": 70.6, "resolution": 1, "source": "USGS EPQS (3DEP)", "retrieved": "2026-10-20"}, "food_access": {"tract10": "06083000900", "urban": 1, "lila_1_10": 0, "low_access_1mi": 0, "poverty_rate": 24.3006034009874, "median_family_income": 56065.0, "snap_households": 43.0, "pop2010": 3266.0, "source": "USDA ERS Food Access Research Atlas 2019 (ArcGIS copy)", "retrieved": "2026-10-20"}, "housing_market": {"zhvi": {"latest": 988595, "month": "2026-09", "change_1y": 0.043, "change_5y": 0.302}, "zori": {"latest": 3279, "month": "2026-09", "change_1y": 0.028, "change_5y": 0.239}, "county_fips": "06083", "source": "Zillow Research (ZHVI, ZORI)"}, "jobs_lodes": {"tract20": "06083000900", "jobs": 17238, "retail_jobs": 1012, "food_accommodation_jobs": 2980, "year": 2022, "source": "Census LEHD LODES8 WAC 2022 (all jobs, primary and secondary), blocks summed to the 2020 tract", "retrieved": "2026-10-20"}, "listings": {"zip": "93101", "month": "202609", "median_listing_price": 1996250, "median_listing_price_yy": 0.1659, "active_listing_count": 39, "median_days_on_market": 39, "price_reduced_share": 0.2388, "pending_ratio": 0.2179, "source": "Realtor.com Research, inventory core metrics by ZIP (ZCTA at the site point)", "retrieved": "2026-10-20"}, "opportunity": {"tract10": "06083000900", "kfr_p25": 0.4254, "jail_p25": 0.0211, "kids_count": 471.4739, "commuting_zone": "Santa Barbara", "vintage": "children born 1978-83, outcomes measured 2014-15", "source": "Opportunity Insights, Opportunity Atlas (Chetty, Friedman, Hendren, Jones, Porter 2018)", "retrieved": "2026-10-20"}, "peers": {"peers": [{"id": "m-6a90631712", "name": "Westside Pavilion", "city": "Los Angeles", "state": "CA", "score": 6.0, "why": ["opened 1985", "same strategy: reinhabit", "also in CA"]}, {"id": "m-4ce0efef25", "name": "Beau Monde Mall", "city": "Greenwood Village", "state": "CO", "score": 5.5, "why": ["opened 1985", "same strategy: redevelop"]}, {"id": "m-b2e227f0ba", "name": "Horton Plaza", "city": "San Diego", "state": "CA", "score": 5.5, "why": ["opened 1985", "same strategy: reinhabit", "also in CA"]}, {"id": "n-a5d106c733", "name": "North Point Mall", "city": "Alpharetta", "state": "GA", "score": 5.5, "why": ["opened 1993", "same strategy: redevelop"]}, {"id": "n-dac787998b", "name": "Paseo Nuevo", "city": "Santa Barbara", "state": "CA", "score": 5.5, "why": ["same strategy: redevelop, reinhabit", "also in CA", "0 km away"]}, {"id": "m-2afa0a0e0b", "name": "Arsenal Mall", "city": "Watertown", "state": "MA", "score": 5.0, "why": 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