Promenade on the Peninsula

Promenade on the Peninsula
Coordinates	33°46′20″N 118°22′25″W / 33.7721081°N 118.3736696°W
Address	550 Deep Valley Dr, Rolling Hills Estates, CA 90274
Opening date	Fall 1981
Previous names	The Courtyard
Developer	Ernest Hahn and Ron Florance
Owner	Stoltz Real Estate Partners

Promenade on the Peninsula is the current name of originally enclosed, now open-air regional shopping mall in

South Bay area of Greater Los Angeles

. Former names include The Courtyard, Shops at Palos Verdes and Avenue of the Peninsula.[1]

History

In November 1978, developers

ice skating rink. The city council approved the plan in June 1979 and an agreement with the neighboring city of Rancho Palos Verdes was reached in March 1980.^[1]

The mall opened in Fall 1981 during the Early 1980s recession. By March 1982, 65 of the 92 stores were occupied. The ice skating rink was well patronized, but it proved difficult to attract shoppers from the immediate area who had already become accustomed to driving to what is now Del Amo Fashion Center which had a far wider selection of department and specialty stores. A fire in the center in April 1984 caused $1 million in damage. The mall was renovated in September 1988. The Hahn Company began an $11 million project to upgrade the mall and its tenants to become more attractive to the most upscale shoppers, and renamed it The Shops at Palos Verdes.^[1] The mall was doing relatively well and harming business at the next-door Peninsula Center^[2]

1990s

In January 1997, the mall lost both department store anchors, the

Restoration Hardware and Abercrombie & Fitch opening in 1999 and 2000. Regal Cinemas expanded and remodeled in 1999, using the third floor of the empty former Robinsons-May building to add additional theaters, resulting in today's Regal Promenade Stadium 13.^[1]

2000s

The Avenue saw an improvement in foot traffic and business in 2002. A

Borders Books and Music store opened in August of that year. Saks Fifth Avenue, the only department store anchor, closed on May 13, 2006. In November 2006, Cousins sold the mall to Stoltz Real Estate Partners of Pennsylvania for $95.7 million. Stolz polled the community for a new name for the mall in February 2008, with the winning name being The Promenade on the Peninsula, which it was renamed in March 2008. Borders went bankrupt and closed its Palos Verdes store February 2011.^[1]

References

^ ^a ^b ^c ^d ^e Gnerre, Sam (7 April 2015). "Rebranding becomes a way of life at Rolling Hills Estates mall". Daily Breeze. Retrieved 1 May 2019.
^ Taylor, Ronald B. (25 October 1991). "Hard Times at Peninsula Center Reflect City's Sagging Fortunes". Los Angeles Times. Retrieved 1 May 2019.

[dbr-1] Gnerre, Sam (7 April 2015). "Rebranding becomes a way of life at Rolling Hills Estates mall". Daily Breeze. Retrieved 1 May 2019.

[2] Taylor, Ronald B. (25 October 1991). "Hard Times at Peninsula Center Reflect City's Sagging Fortunes". Los Angeles Times. Retrieved 1 May 2019.

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