Planning The Village
Changing the Landscape of a Community
In an effort to reinvigorate the urban marketplace and improve the quality of life, Market Creek Plaza was developed as a high impact anchor project in an area of severe blight.
The initial goal of the project was to secure a grocery store. Planned and built through a network of resident teams, Market Creek Plaza is now home to Food 4 Less, the first major grocery in the community in over 30 years. Today, the Plaza provides a bank, restaurants, and other essential goods and services, and is becoming known as San Diego's "place-to-be" for multicultural arts and entertainment.
Through the nation's first Community-Development Initial Public Offering, 20% of the Plaza is now owned by 425 community investors. Another 20% of the Plaza is owned by the Neighborhood Unity Foundation, a unique community foundation planned and run by the residents for the benefit of residents. For the past three years, both groups received a 10% preferred return from their investment.
The physical development that began with Market Creek Plaza is now fueling a larger, more comprehensive community development effort. Over the next 10 years, The Village at Market Creek will transform over 60 untended, unused, or under-utilized acres into a thriving area with new homes, businesses, jobs, and a network of integrated entertainment venues and community services.
While success is often measured by square feet of new construction, number of jobs, and value of community contracts, The Village at Market Creek's most significant impact has been the mobilization of large-scale civic involvement by residents working together to change their own community.