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Monday, May 23, 2022

Council OKs Westfield’s Promenade

Los Angeles City Council voted last week to approve the long-deliberated Unibail-Rodamco-Westfield project Promenade 2035 at Warner Center.

The City Council upheld an approval already given by the L.A. City Planning Commission to advance with the latest version of Westfield’s massive $1.5 billion mixed-use project, which includes the overhaul of the existing partially dormant Westfield Promenade mall into a collection of apartments, retail, offices, hospitality and a sports and entertainment venue.

In a company statement, Unibail-Rodamco Westfield’s Senior Vice President of Development Kim Brewer thanked the City Council as well as Councilmember Bob Blumenfield, who was instrumental in creating the Warner Center 2035 Specific Plan to redevelop Warner Center into the San Fernando Valley’s epicenter.

“This decision marks nearly four years of public review of the project, which has been shaped by over two decades of input from our neighbors in the Warner Center,” Brewer said in her statement.  Added Blumenfield: “With thousands of new housing units, job opportunities for our community and a place-making new entertainment center, the Westfield Promenade 2035 project is a game-changing development for the West Valley. Our housing affordability crisis will only be solved by building affordable units, and this project includes the very first affordable housing in Warner Center.” With Promenade 2035, which abuts Westfield’s retail centers The Village at Westfield and Westfield Topanga to its north, Unibail-Rodamco-Westfield plans to create a 34-acre entertainment center to include shops, cafes, grocery store, interlacing walkways and 10 acres of landscape and public plazas. The blueprint also calls for 1,400 apartments, including 162 lower-income units; a 5,000- to 10,000-seat entertainment and sports center; a 25-story, 731,500-square-foot office tower; and a 572-key hotel. Promenade 2035’s parking capacity will accommodate 5,655 vehicles.

Westfield estimates construction of Promenade 2035 will create more than 10,800 construction jobs and 9,700 permanent jobs upon completion. The retail property developer also believes Promenade 2035 stands to generate an estimated $1.9 billion in total economic output and roughly $17.2 million in net new annual revenues to the city’s general fund.The project has gone through several redesigns. Westfield released updated renderings of its most recent proposal in May.

Michael Aushenker
Michael Aushenker
A graduate of Cornell University, Michael covers commercial real estate for the San Fernando Valley Business Journal. Prior to the Business Journal, Michael covered the community and entertainment beats as a staff writer for various newspapers, including the Jewish Journal of Greater Los Angeles, The Palisadian-Post, The Argonaut and Acorn Newspapers. He has also freelanced for the Santa Barbara Independent, VC Reporter, Malibu Times and Los Feliz Ledger.

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