Oxnard’s Carriage Square is getting a new lease on life, as its developers recently secured $17.2 million in construction financing and announced that a 138,000-square-foot Lowe’s Home Improvement store and several smaller retailers will open there next year.

The developer is Calabasas-based Upside Investments, which purchased the 16-acre Carriage Square property in 2007 for $13 million, according to media reports at the time.

Upside has spent the past three years obtaining entitlements and negotiating leases, lease extensions and tenant relocations, according to George Smith Partners, the financing firm that provided the recent construction loan. Existing buildings on the property will now be partially demolished to make room for 170,000 square feet of retail space. [mappress mapid=”1″]

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