A $180-million regional shopping center in Valencia...

A $180-million regional shopping center in Valencia is being planned by Newhall Land & Farming. The proposal includes an eventual 1.5 million square feet of retail space and six department stores. Newhall Land, JMB-Federated Realty Associates and May Centers, a subsidiary of May Department Stores, have formed a partnership to develop the center. The first phase, costing $80 million to $90 million, will consist of up to 800,000 square feet with two or three department stores and 100 retails shops, Newhall Land said. Construction is expected to begin in early 1990.