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Regency Centers Begins $3 Million Renovation of Hillcrest Retail Property

Florida-based Regency Centers Corp. has begun a $3 million renovation of the Uptown District Shopping Center in Hillcrest, which it purchased in late 2012.

Company officials said the makeover, designed by a team that included the late local architect Graham Downes, is set for completion in the fall. Regency is renaming the center The Hub – Hillcrest Market, with HUB standing for Hillcrest Uptown Block.

The approximately 148,000-square-foot center, which includes 10 buildings at 940-1050 University Ave., was built in 1989 and acquired by Regency for just over $81 million. The center’s tenants include Ralphs, Trader Joe’s, Wells Fargo and Starbucks.

Regency officials said the renovation will include new custom murals by San Diego-based artists that reflect the neighborhood, and several new tenants such as Napizza and Ritual Juicebox. Operators are also installing drought-resistant and indigenous landscaping, new way-finding signs, and sculptural art installations by Chris Puzio and Terry Dixon.

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Bycor Construction is the general contractor, with others on the design team also based in the San Diego region, officials said.

Regency Centers (NYSE: REG), is headquartered in Jacksonville, Fla., and has a regional office in Solana Beach. As of April, the company owned 332 shopping centers spanning 43.9 million square feet, including several properties in San Diego County.

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