Real estate investment trust Taubman Centers has launched a plan to revamp Beverly Center shopping mall in Los Angeles, US, with an investment of $500m.

The project will have a bright, contemporary and accessible exterior and interior that engages the centre with the adjoining neighbourhood.

Scheduled to be completed by 2018, the project will offer easy arrival, parking and departure facilities in addition to featuring retail outlets and dining option, named The Street, by Chef Michael Mina.

It is claimed to provide panoramic views of the Hollywood Hills and downtown Los Angeles from The Street and from the centre’s sixth floor.

The project will additionally include ample places to sit, relax and plug in, and can host events, exhibitions and installations

Renovation of the 886,000ft² centre has been designed by Italy’s Studio Fuksas of Rome.

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"The centre is a key asset in our portfolio, and after renovation we believe it will become one of the top ten retail centres in the nation."

Taubman chairman CEO and president Robert Taubman said: "In re-envisioning Beverly Center, we are looking to create LA’s signature urban shopping and dining experience, as well as an exciting, pedestrian-friendly anchor to one of the most creative and diverse neighbourhoods in the world.

"The centre is a key asset in our portfolio, and after renovation we believe it will become one of the top ten retail centres in the nation."

Recently, the company launched a mobile app at 14 of its shopping centres across the US.

The free app, developed along with Meredith Xcelerated Marketing and SPREO, is accessible to Android and iPhone platforms, provides indoor navigation technology and a host of other shopper-friendly functionality to consumers.

Image: Renovation of the 886,000ft² centre will be completed by 2018. Photo courtesy of: Business Wire