Developer Rick Caruso is moving on his next big project in retail: a 116,000-square-foot makeover of downtown Pacific Palisades, dubbed Palisades Village.
Caruso Affiliated, the same firm that created the Grove and Americana at Brand, has updated its vision for the retail and entertainment project, which encompasses Sunset Boulevard, Monument Street and Swarthmore Avenue.
Modeled after an old-timey town center, the visions laid out by Elkus Manfredi Architects include wide sidewalks and a series of one- and two-story buildings that would house stores, restaurants, a supermarket, a five-screen movie theater and a new park along Monument Street, which would serve as the centerpiece of the street.
The project, which is slated for completion in late 2017, will also include a two-level underground parking facility, according to its website.
Caruso moves forward with these plans in the wake of a proposal defeat 100 miles south, in Carlsbad, California. Last month, city residents voted down his ballot measure to fast-track a large shopping center with public trails and agricultural spaces.
The mall developer recently ventured into the office market with its January completion of CBRE’s new office building at 234 S. Brand Boulevard in Glendale, which used to what used to be an active Masonic Temple. — Cathaleen Chen