Fashion Valley Owner Revises JCPenney Redevelopment to Include 410 Apartments

SAN DIEGO — November 7, 2026. Simon Property Group has brought forward a revised redevelopment proposal for the western side of Fashion Valley Mall, seeking to replace the JCPenney building and neighboring structures with shopping, restaurants and approximately 410 apartments.

How the plan changed

The mall owner originally pursued a project with around 850 residential units in 2024. Its smaller current proposal would create a five-story apartment building near the Nordstrom parking garage alongside four two-story retail and dining buildings arranged around a courtyard.

Housing and affordability

The plan includes studios through three-bedroom apartments and would reserve 10% of the homes as affordable housing. Developers described a target of roughly 1.5 parking spaces per unit. The retailer has not announced the restaurants that might occupy the future buildings.

City review still required

Developers presented the concept to the Mission Valley Planning Group in early November. Concerns included congestion and parking near the busy mall. A Neighborhood Development Permit is required and a public hearing is expected after preliminary city review. The presentation does not constitute final approval to demolish JCPenney or begin construction.

Source: Times of San Diego, November 4–5, 2026.

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