A large shopping mall in Fremont could undergo some major changes if the mall owner gets approval from the city. The owners of the Fremont Hub mall, which is home to a Target, CVS, Trader Joe’s, Ross and more than two dozen other retailers, plan to demolish part of the mall and replace it with housing, a parking garage, and a new retail building. Located at the busy intersection of Fremont Boulevard and Mowry Avenue, the busy outdoor mall is owned by real estate investment firm Kimco Realty Corp.
Fremont Hub Shopping Center. | Map courtesy of: Kimco Realty
If all goes as planned, Kimco would demolish a large section at the northeast corner of the mall, measuring 70,000 square feet. In its place, Kimco would add “314 apartments, 27,000 square feet of new retail space and a 442-space parking garage,” according to an application filed with the City of Fremont and obtained by the San Francisco Business Times. The building, which is slated for demolition, currently houses a CVS store, a Staples store, and a few other smaller retailers and restaurants.
The CVS store is to be torn down. | Photo credit: Google Maps
Kimco plans to complete the construction work in two phases. Phase one would revolve around the construction of a new building of approximately 13,000 square meters. CVS would move its operations to this building. Once this move is complete, Kimco would begin phase two, which would involve demolition of the existing 70,000-square-foot building and construction of a new seven-story apartment building with just over 14,000 square feet of retail space on the ground. Phase two would also include the completion of the associated parking garage.
Section selected for demolition. | Photo credit: Google Maps
Plans to transform the Fremont Hub were put forward by Kimco in 2018, but the original plans called for an underground parking lot that could accommodate more than 700 cars. According to Kimco’s website, the mall already has 2,665 above-ground parking spaces to accommodate its 504,000 square feet of retail space. Kimco is also actively seeking new retailers. The SF Business Times reports that the Fremont Hub currently has a vacancy rate of 21.6%. Before the pandemic, that rate was just 7.3%. The leases page on the mall’s website shows that the mall has 19 vacant retail spaces ranging in size from 39,000 square feet to 445 square feet.
The current renovation plans were submitted to the City of Fremont on June 16 and still have a long way to go. So far, there are no timetables for a possible approval by the city.