A shopping mall project in San Francisco’s South of Market anchored by an 87,000-square-foot Ikea store has stalled.
The opening date for the five-story Livat mall at 945 Market Street has changed — again, the San Francisco Business Times reported.
While the Netherland-based home furnishings company is “energetically moving forward with construction,” opening day has been pushed back from the May target, a U.S.-based spokesperson for Ikea told the newspaper. It initially planned to open in fall 2021.
Since Ikea sister company Ingka Centres bought the 250,000-square-foot mall for $198 million in October 2020, the project has faced numerous delays blamed on construction, including a $10.6 million redesign launched last summer.
Ikea and its development arm have given conflicting timelines for the project, according to the Business Times.
Ingka Centres forecast late last year the mall would open late this year. In February, Ikea said it would open this spring.
The conglomerate with Swedish roots declined to provide a new opening date.
“Our timeline has been delayed to ensure we’re bringing the best possible shopping experience to our customers,” the U.S. spokesperson said. “We look forward to sharing more information on the grand opening of Ikea San Francisco in the coming months.”
A new Downtown mall comes in contrast to the closures of Whole Foods and Coco Republic, and pending closures by Nordstrom and Nordstrom Rack, which cited poor street conditions and property crime.
The furniture giant is slated to grow by 17 stores in the next three years fueled by a $2 billion investment from Ingka Holding BV, the largest owner and operator of Ikea stores, adding to Ikea’s portfolio of 51 stores and two plan-and-order hubs.
The Livat mall will be anchored by the 87,000-square-foot Ikea store, with the remaining 163,000 square feet taken up by shops, restaurants and entertainment tenants. Livat, in Swedish, means “lively gathering.”
Developer Ingka Centres plans to add a sustainable food hall, called Saluhall, that focuses on Nordic specialties: baked goods, beer, burgers and ice cream. Ingka has declined to name other potential retail tenants, according to the Business Times.
New York co-working company Industrious filed a planning application to occupy 45,600 square feet on the mall’s fifth floor. An “adult mini golf facility” venture called The Puttery, backed by professional golfer Rory McIlroy, explored the site but has downplayed the likelihood of a lease.
The mall’s original developer, Cypress Equities, sold the property to Alexandria Real Estate Equities and TMG Partners in 2019 for $179 million. They planned to create space for life sciences within the mall.
— Dana Bartholomew
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