A lawsuit brought by the Woodland Hills Homeowners Association that sought to slow down the $335 million Westfield Village development has been settled.
Details of the settlement were not made public, but in a joint statement, the groups said they believed the deal would be best for the community.
“All parties were satisfied with the ongoing dialogue and final agreement,” the statement said.
The Los Angeles Superior Court lawsuit was filed in 2012 and alleged a planned Costco and adjacent gas station would violate building guidelines by encouraging car use. It noted a key aim of the Warner Center specific plan is to make the neighborhood more pedestrian-oriented.
The suit was dismissed last summer, but the decision was appealed by the homeowners association. The settlement was reached last week while the case was still on appeal.
Gordon Murley, president of the homeowner’s group, wouldn’t discuss the settlement details.
“We both came together and did something that we both think is good for the community,” he told the Business Journal.
The Village development will connect the Westfield Topanga and Westfield Promenade malls and add a Costco, offices, a hotel, in addition to restaurants and shops.
Earlier this month, Westfield announced it will hold off on the business hotel, citing market conditions. The 158-room hotel was to be constructed in the first phase of the 550,000-square-foot project.
Also this month, The City Council gave its final approval for up to $59 million in tax breaks over the next 25 years, which Westfield said was necessary to fast track construction of the development over the next three years.
The project is expected to generate $140 million in tax revenue over 25 years and add 1,600 jobs to the area.
Westfield plans to host a ceremonial groundbreaking of the development on Monday.