The site of an old Mervyn's retail store will be converted into a large shopping and residential complex in the heart of Alhambra.

Shea Properties has already begun work on the project, which at build-out will include 260 luxury apartments and 140k SF of retail, according to the City of Alhambra. The project, known as Alhambra Place, is key to revitalizing a community without much in the way of new and sexy development. The city says the 10.5-acre project is expected to be complete in 2016, with the retail available by the holiday season next year.

The city says the Mervyn's will be completely torn down as part of the project at the corner of Main and Garfield. The development, which the LA Times places a $130M price tag on, will include retail and restaurant users, in addition to a specialty grocer. Shea also is building an outdoor plaza and paseos. The city says apartments will include mostly one- and two-bedroom units, though there will be a few studios and three-bedroom units. Mervyn's and most of the other shops in the area closed about five years ago.