The managers are planning to replace the 1972-opened mall with 138,760 square feet of retail space, including a 65,000 square feet grocery store. A Target store spanning 138,760 square feet would replace the existing location inside the mall. Tomahawk Island Drive will become the island’s ‘Main Street’, in accordance with the Hayden Island Plan. The redeveloped mall will feature three 6,000 square feet restaurant spaces on the perimeter of the site. The existing Burlington Coat Factory will be retained.

The outline plans of the redevelopment and remodeling scheme has been submitted to the City of Portland. If the approval is granted, construction will start in 2011 with the demolition of the buildings that house Barnes & Noble and vacant restaurant space on the north end of the site.

Jantzen Beach Mall opened on September 28, 1972 on the site of the former Jantzen Beach Amusement Park which operated from 1928 to 1970. The C. W. Parker merry-go-round is the only surviving ride from the amusement park and is now located inside the mall by the food court. The mall features approximately 30 tenants, including three anchor stores: Burlington Coat Factory, Ross Dress for Less, and Target.