AO and Shopoff Realty Investments unite to deliver a landmark mixed-use development at Bolsa Pacific
For more than 50 years, AO has collaborated with developers, brands, and retailers to deliver thoughtful architectural solutions that balance creativity with commercial success. Built on a belief in the power of relationships, the firm leverages deep industry expertise to create impactful projects across sectors including multifamily, retail, hospitality, healthcare, industrial, and public infrastructure.
Founded in 1992, Shopoff Realty Investments specializes in unlocking the potential of underutilized and undervalued real estate. Through a disciplined investment approach that combines property repositioning, land entitlement, and adaptive reuse, the firm transforms overlooked opportunities into high-value assets.
Together, AO and Shopoff Realty Investments bring complementary expertise to every project, combining strategic real estate investment with innovative architectural design and planning. Their collaborative approach enables them to unlock value, manage complexity, and deliver developments that create lasting benefits for investors, communities, and end users alike.
This shared vision is exemplified by an exciting new project undertaken by the two businesses. In early 2026, Shopoff Realty Investments was thrilled to break ground on one of Southern California’s most ambitious retail repositioning projects: Bolsa Pacific. Working in partnership with AO, the 83.3-acre redevelopment will transform the long-vacant Westminster Mall into a vibrant mixed-use destination. Designed to support a diverse range of lifestyles, the residential master plan features three multifamily buildings and six townhome villages, delivering a total of 2250 homes. These neighborhoods are seamlessly connected to a 215,000-square-foot retail hub through an integrated network of pedestrian-friendly pathways, creating a walkable community where living, shopping, and gathering come together. The project is still in the planning phase, and the exact plan and residential mix is still subject to change.
Leading this project is Bill Shopoff, Founder, President, and CEO of Shopoff Realty Investments, and Ioanna Magiati, Architect and Partner of AO. With more than 45 years of experience in real estate investment and development, Bill has overseen the acquisition of more than 1000 properties, the entitlement of over 25,000 residential lots and units, and the development of millions of square feet of commercial and industrial space.
Since joining AO in 2013, Ioanna has emerged as a respected leader in the design and delivery of multifamily and mixed-use communities, including market-rate, affordable, senior, and modular housing. Known for her collaborative approach and strategic problem-solving, she excels at aligning diverse stakeholders to transform complex development goals into successful, thoughtfully executed projects. Passionate about building lasting partnerships, Ioanna works closely with developers, municipalities, consultants, and design teams to bring each client’s vision to life. With the development now underway, Modern Home Builders sits down for an exclusive interview with Bill and Ioanna to dive deeper into the strategic partnership shaping one of the most enthralling retail repositioning projects of the decade. Bill begins the conversation by sharing insight into the development’s earlier stages.
“We’d been tracking this asset for around four to five years before we made the first acquisition, which we made four years ago, with a second acquisition shortly thereafter,” he shares. “When we originally engaged with Ioanna and AO, we owned around 26 acres across two of the pads – the Sears and the Macy’s. At the time, we envisioned a predominantly multifamily development, but there were some issues with the adjacent ownership. It became clear that it was within our best interests to assemble the entire site, so that’s what we did.
“Another prospective buyer, however, had approached the mall, so we went through an 18-month process distracted by a sale that wasn’t viable,” Bill reveals. “In the meantime, though, the landscape had shifted from a predominantly ‘for-rent’ market to a more heavily ‘for-sale’ market. Rising interest rates put a lot of pressure on the multifamily ‘for-rent’ product, so it was clear that we needed a better balance. Now, our volume sits at around 60 percent ‘for-rent’ and 40 percent ‘for-sale’. It’s been a real art and science of balancing what the market wants, what the public wants, and what Ioanna and AO can design for me within the envelope that I’ve got.”
With that balance now firmly secured, Bill expects that the site will be demoed by the end of 2026. Replacing the mall buildings, the Bolsa Pacific development will encompass a range of family-oriented, urban-influenced residences, with model homes set to open in late 2028, a three-to-four-story hotel set to open in early 2029, and an apartment building set to open in late 2029.
“Right now, in the proposed plan, we have approximately 2250 units. I understand that the economics are driving the projects, but with such a big piece of land, we had a great opportunity to propose a master plan that’s very balanced,” Ioanna says. “The master plan combines three wrap apartment communities, two affordable housing buildings, and a townhome neighborhood to provide a diverse mix of housing that supports families, young professionals, and residents at different stages of life. That diversity is essential to creating a livable, resilient community, especially as California continues to face a critical housing shortage. At the heart of the plan is a vibrant mixed-use district centered around retail, a food hall, and generous public open space. Together, these elements will create strong synergy between the tenants to truly revitalize the area and propose something multi-generational for the city of Westminster and its adjacent areas.”
For both AO and Shopoff Realty Investments, livability sits at the very heart of every project. The ultimate aim of the Bolsa Pacific development is to create a harmonious balance of humanity and urbanicity in an environment where people and businesses are able to flourish side by side.
“In terms of the businesses within the development, we wanted to be a little more iconoclastic, where we could seek out entrepreneurs in Westminster who could deliver a local, soulful experience – who could build a brand and grow,” Bill affirms, commenting on the placemaking element of the project.
“We looked at this project not just for its commercial strengths, but because we wanted to create a thriving downtown area,” Ioanna adds. “In the same way that we approach all our projects, we began by taking a deep dive into the lifestyle of the area, understanding its DNA and how it works, lives, and plays. We spent a lot of time at the beginning creating a design narrative that’s here to stay – one that supports community development for Orange County into the future. It was the true collaboration between us, our commercial team, and our consultants that’s created the magic between the science and methodology for Bolsa Pacific.”
As the Bolsa Pacific project takes shape, it stands as a testament to what can be achieved when visionary investment and thoughtful design work in unison. By combining Shopoff Realty Investment’s expertise in transformative redevelopment with AO’s people-centered architectural approach, the partnership is setting a new benchmark for community-focused placemaking that will serve Orange County for generations to come.
“We often see vacant malls and office spaces that developers want to transform into multifamily housing units, but having the opportunity to have an entire mall, like Bolsa Pacific, is unique. You don’t always have the opportunity to demo everything and start from scratch,” Ioanna emphasizes, concluding our conversation. “We recognize the urgent need for more housing, but we don’t believe residential growth has to come at the expense of retail. Instead, it presents an opportunity to reimagine retail for the way people live, gather, and experience places today. Post-Covid, retail experienced a slowdown as people shifted toward online shopping. Today, we’re seeing a strong resurgence in demand for experiential retail that combines shopping, dining, and entertainment in ways that draw people back into stores and retail centers.
“It’s been a wonderful opportunity to work with great clients like Shopoff to be able to make such a big impact in these communities.”
Shopoff Realty Investments (www.shopoff.com)
AO (www.aoarchitects.com)