Westfield Corp. plans to spend $800 million on a massive makeover of its Century City mall as it races to stave off local competitors and the rapid growth of online retailing.
The overhaul comes after a major renovation just a decade ago, underscoring the challenge of keeping pace with the revolution in retail.
When the work is completed in 2017, Westfield will have spent about $1 billion on improvements since acquiring the mall in 2002, estimated Peter Lowy, co-chief executive of Westfield Corp.
The project will transform and expand the luxury property with new shops and a heavy emphasis on restaurants — largely in an outdoor setting intended to embody the Southern California lifestyle.