On August 28, 2019, HP Investors (HPI) and FABRIC—both locally-based—announced the purchase and redevelopment of the Carlsbad Antique Mall on State Street. This 22,000 square foot project will be the largest commercial property renovation in the downtown Carlsbad, California area in decades.
The revitalized site will be known as State Street Commons, and it’s being positioned to become the premier gathering spot in Carlsbad Village for residents and visitors alike.
The $15 million project will pay tribute to Carlsbad’s history by maintaining the architectural integrity, character and charm of the nearly seventy-year-old buildings that run from 2742 to 2752 State Street.
Sumeet Parekh, Managing Partner, HP Investors said, “This project will bring a curated mix of retail and commercial companies to Carlsbad Village that will complement the eclectic and vibrant nature of the neighborhood. We are thrilled to build in an area that is experiencing great residential and visitor growth and look forward to delivering an inspiring project and announcing exciting future tenants.”
The renovations will increase safety and provide modern upgrades to the façades, storefronts and interiors. The two steel-framed Butler Buildings with 28-foot ceilings and notable Quonset hut (arch-shaped steel military structure popular in the 20th century), will be preserved and updated. Through innovative design and thoughtful repurposing, the renovated buildings will provide over 22,000 square feet of new top-tier retail and creative office-space.
The retail spaces along State Street will house best-in-class restaurants, retail and cafes and the office hopes to attract technology and design firms from around the county and state. Renovations will begin in mid-November and continue until next summer.
The construction follows a change in ownership. Bill Ostrie, the owner of the Carlsbad Antique Mall and former president of the Carlsbad Village Business Association sold the property to HP Investors and FABRIC.
Brendan Foote, Principal, FABRIC said, “Carlsbad Village deserves a special project here. We have spent years envisioning State Street Commons and focusing on every little detail and design element. We are excited for the community to finally experience the result of that process.”
FABRIC and HP Investors have been working with the Ostrie Family on this transaction since 2017. HPI and FABRIC have commissioned G Coleman Architect and FieldXStudio to serve as the architects for the project, along with C2 Building Group as the general contractor.
Renderings courtesy of HP Investors.