Montecito-based Levine Family Properties LLC is proposing to create a 244-unit development at 21201 W. Victory Blvd. in Woodland Hills, according to The Real Deal.
The plan, filed with the city of Los Angeles, calls for the demolition of an existing low-rise commercial building to make way for a seven-story mixed-use structure that would include 61 live-work units occupying about 246,000 square feet, plus another 50,500 square feet of non-residential space, including 16,800 square feet for offices and 219 parking spaces.
The sprawling development will replace the Warner Executive Office, a 36,000-square-foot building at Victory near Topham Street that opened in 1979.
More than 2,500 residential units are currently in development in Warner Center, where just last week, Bolour and Associates announced the purchase of 3 acres of land on Oxnard Street to bring another 380 commercial units to the area, while California Home Builders continues to construct a five-building network of mixed-use buildings until the unified “Q” brand. In October, San Diego-based MG Properties Group purchased a 264-unit multifamily complex at 6301 De Soto Ave. for $93 million.
The Victory Boulevard development is the latest in the ongoing commercial and residential build-out stimulated by the Warner Center 2035 Specific Plan, which seeks to transform the community of Woodland Hills into the downtown center of the San Fernando Valley.