PLACERVILLE (CBS13) – A new Target store is in the works for Placerville.

Gryphon Capital and Rich Development announced back in June that they had bought Prospector’s Plaza, which is right off of Highway 50.

As part of their announcement, the developers also announced plans for a new Target store that will open at the shopping center. The new, 86,414 square-foot Target will be filling in the old spot of a Kmart store that closed in 2018.

The new store is coming amidst a large renovation of the Prospectors Plaza, which was originally built in 1982. Developers say they are updating building facades, features, landscaping and signage.

Target will join Ross, CVS Pharmacy and a Save Mart Supermarket as anchor tenants at the 243,000 square-foot shopping center.

Right now, the closest Target store to Placerville is about 17 miles away in El Dorado Hills.

The new Placerville Target is expected to be open by summer 2020.