Malls · California
Paseo Nuevo (Santa Barbara)
Proposed redevelopment (housing/office) approved by Santa Barbara City Council in 2026; Yardi Systems developer; downtown location with 10km mall cluster; housing market data available. · summary, model-written
Solid = from the authors' map · outlined = public source · dashed = model-written, not yet reviewed by a person. Tap any value's source label to see where it came from.
Site profile7 elements · what this retrofit is built with · tap a chip for the evidence
Nordstrom
This site: Nordstrom wikipedia · all sites with thisRetrofit in the pipeline
This site: …proposed record · all sites with thisCounty typical rent $2,000+
This site: $3,279/mo zillow · all sites with thisRedeveloped
This site: record · all sites with thisReinhabited
This site: record · all sites with thisHousing
This site: …new_use field record · all sites with thisOffice
This site: …new_use field record · all sites with thisNow
| Status | Retrofit proposedWikipedia |
|---|---|
| Strategy | Redevelopment · Reinhabitation, proposedWikipedia |
| New uses | housing, officeWikipedia |
| Redeveloper | Yardi Systemsnewtypes-extraction |
Planning
| Entitlement year | 2026Wikipedia |
|---|---|
| Planning notes | Approved by Santa Barbara City Council.Wikipedia |
Securitised debt and public filers
Filings (2001 to date) that name “Paseo Nuevo” and “Santa Barbara” (38 hits, first 38 sampled, 9 other filers such as tenants left out). Common name: these matches are unreliable. No commercial-mortgage trust names this mall in the sample, which does not rule out a securitised loan. Text matches, not a title search. Open the search · all trusts.
| Kind | Filer | Filings | Dates | Forms |
|---|---|---|---|---|
| Public owner (weak) | TAUBMAN CENTERS INC | 3 | 2001-03-26 to 2003-08-01 | 10-K 2, 8-K 1 |
Site context
| Housing permits, Santa Barbara County (CA), 2024 | 249 units in 5+ unit buildings, 20 in 2–4, 481 single-family; 2023: 80 in 5+Census BPS |
|---|---|
| Other atlas sites nearby | 1 within 10 km, 2 within 25 km: Paseo Nuevo (0.4 km)computed |
| Retail trade in the county, 2012 to 2023 | 1,479 establishments (-2%); 19,196 jobs (+2%)Census CBP |
| Housing market in the county | typical home value $988,595 (+4% 1 yr, +30% 5 yr); typical rent $3,279/mo (+3% 1 yr), 2026-09Zillow Research |
| Traffic on the busiest road within 600 m (2024) | 24,854 vehicles a day (major collector, 2 lanes); 36 counted segmentsFHWA HPMS |
Summary, model-written
Paseo Nuevo (458,000 sq ft mall) in Santa Barbara, CA, is proposed for redevelopment. Santa Barbara City Council approved the transaction in 2026 for Yardi Systems to acquire and redevelop the site, with new uses including housing and office space. The strategy is listed as 'redevelop' and 'reinhabit'.
Why. The site is the only mall within 10km (cluster count 1). Yardi Systems is the developer. The opportunity score (10.0) cites: already in play (approved, under planning), median rent $2,050, and housing in the record. Permits show 2023-2024 residential construction activity (481 single-unit, 249 five-plus-unit units).
Where it stands. Status is 'proposed'. Entitlement year is 2026. The narrative states the 2026 council approval covers redevelopment of the former Macy's building as a corporate office. The mall opened in 1990, with Macy's closing in 2017 and Nordstrom in 2020.
For a planner
- Downtown integration via pedestrian promenades (Spanish Colonial Revival style).
- Traffic: major collector road, 24,854 ADT (2024).
- Retail employment grew 2.2% (2012-2023), establishments down 1.5%.
For a developer
- No construction status confirmed (only approved).
- Housing market: ZHVI $988,595 (2026-09), ZORI $3,279 (2026-09).
- No specific housing/office unit counts or timelines provided.
What we do not know yet
- No current construction phase stated.
- Exact housing/office mix unknown.
- No timeline for completion beyond entitlement year 2026.
Generated by qwen3-30b-a3b-64k:latest on Dell 5820 RTX 3090 (Ollama, qwen3-30b-a3b) from the fields, parcels, deals and context layers on this page, with no outside knowledge. It is regenerated when the record changes and has not been checked by a person. How it is made.
Similar sites
- NOHO West, North Hollywood, CA · Malls · similar GLA (452,000 sq ft); same strategy: redevelop; also in CA
- Gwinnett Place Mall site, DULUTH, GA · Malls · similar GLA (562,000 sq ft); same strategy: redevelop
- Lexington Mall, Lexington, KY · Malls · similar GLA (508,000 sq ft); same strategy: reinhabit
- Turfland Mall, Lexington, KY · Malls · similar GLA (552,000 sq ft); same strategy: reinhabit
Elsewhere on the web
Search images: Google · Bing · Commons · references: ULI case studies · Google Scholar
Multifamily screen
- already in play: under construction, approved, or sold to a developer with housing plans
- median rent $2,050
- housing in the record
Inputs: record fields (size, status) and county Census ACS 2018–2023 figures (growth, rent). How the points work. Not a recommendation.
History and original facts
| Gross leasable area | 458,000 sq ftnewtypes-extraction |
|---|---|
| Original developer | Santa Barbara City Redevelopment Agencynewtypes-extraction |
| Anchors | Nordstrom, Broadway |
| County | Santa Barbara County |
| Census division | 9 · Pacific |
| Notes | Draft from Wikipedia, model-extracted, unreviewed: Paseo Nuevo, a 458,000-square-foot shopping center opened in 1990, is proposed to be redeveloped with office and housing uses after Macy's and Nordstrom closures left it underutilized. |
Not yet recorded: acres, year opened, what is there now, retrofit year. Know it? Tell us.
Background
Paseo Nuevo is a 458,000-square-foot (42,500 m2) open-air shopping center spanning two city blocks of downtown Santa Barbara, California. It is integrated into the street grid on and around lower State Street via pedestrian promenades positioned mid-block at right angles to the surrounding streets, as are the traditional alleyways of the city's downtown. It is constructed in Spanish Colonial Revival architectural style. In June 2026 the Santa Barbara City Council approved a transaction allowing local company, Yardi Systems, to acquire Paseo Nuevo and redevelop the former Macy's building at the mall's southern end as a corporate office for roughly 600 Yardi employees.
Excerpt from Wikipedia (authors and history), CC BY-SA 4.0. May be older than the record above.
Timeline
- 1990 opened
- 2017 Macy's closed
- 2020 Nordstrom closed
- 2026 Santa Barbara City Council approved transaction for Yardi Systems to acquire and redevelop former Macy's building
Sources
- Paseo Nuevo · CC BY-SA 4.0
5 quoted sentences
Paseo Nuevo
Paseo Nuevo was built by the Santa Barbara City Redevelopment Agency, utilizing John Field as architect, and opened in 1990.
In 1996 the Broadway was converted to a Macy's, which subsequently closed in 2017.
The Nordstrom closed in 2020 during the COVID-19 pandemic.