2014

EDENS to Re-Establish Jantzen Beach as a Dominant Regional Retail Destination, Scheduled to Open in Fall 2012 Iconic Carousel To Be Restored During Redevelopment

PORTLAND, Ore., April 2, 2012 /PRNewswire/ -- EDENS, the nation's leading retail real estate owners and developers, announced the redevelopment of Jantzen Beach in Portland, Oregon.  The property's iconic carousel will be re-stored during the redevelopment process.  By focusing on design, merchandising and community engagement, EDENS is committed to enhancing the Portland community with the redevelopment of Jantzen Beach.

The first phase of the redevelopment is scheduled to open this fall and the second phase will open in the late summer of 2013.  During the redevelopment process, there will be some demolition of the property to make way for the newly redeveloped center and as a result, will ultimately create more jobs.  The redevelopment features the latest Target prototype, two additional boxes, three outparcel users and approximately 50,000 square feet of retail space which will hold up to 25 additional tenants.  More than fifty million dollars will be invested in this project by the owner and its retail partners, generating approximately 500 new retail jobs.

EDENS centers are uniquely designed to create a sense of warmth and familiarity in each individual neighborhood. Through design details that reflect local values, EDENS neighborhood centers invoke an emotional connection to the consumer, creating a 'home away from home' mentality.  Specifically at Jantzen Beach, EDENS will be creating a pedestrian-friendly environment with added sidewalks, enhanced architecture and landscaping, new outwardly-facing retail shops and upgraded parking among other things.

As a tribute to the historic amusement park, EDENS will restore the historic carousel and the streets will be renamed in the development: North Parker Avenue in memory of Charles Wallace (CW) Parker who built the antique wooden carousel;  North Pavilion Avenue named after the Golden-Canopied Dance Pavilion once located on the island; and  North Starlight Avenue in memory of the roller skating rink that was once on the island.

The iconic carousel at Jantzen Beach will close for restoration on April 22, 2012. Shoppers will have the opportunity to ride the carousel for free for the month of April leading up to the closing.

For more information on Jantzen Beach, please go to www.facebook.com/jantzenbeachcenter

About EDENS:
EDENS develops, owns and operates neighborhood shopping centers in primary markets throughout the East Coast. Focusing on innovative development and redevelopment together with key acquisitions in urban areas, the Company has built an institutional-quality portfolio of 124 retail centers. By focusing on design, merchandising and community engagement, EDENS is committed to enhancing the communities in which they do business.  EDENS has Regional Headquarters in Boston, New York, Washington, DC, Atlanta, Miami and Columbia, SC. For additional information about the Company and its retail real estate portfolio, please visit www.EDENS.com.

SOURCE EDENS



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