After multiple false starts, toymaker MGA Entertainment Inc. is moving forward with plans to develop one of the San Fernando Valley’s most ambitious real estate projects.

If it wins approval from the city, construction could start late this year at the former L.A. Times printing plant site in Chatsworth on what would be the Valley’s first live-work campus – combining light industrial and commercial space with retail, residential and community amenities.

The plan for the 24-acre site at 20000 W. Prairie St. includes 1.2 million square feet of mixed-use light industrial, corporate office, retail and residential space. The project would involve renovating the 256,000-square-foot former printing plant, which will serve as MGA’s corporate headquarters, production facility and ancillary creative office space. Also planned are four ground-up apartment buildings totaling 700 units, 14,000 square feet of retail and substantial green space.

MGA Chief Executive Isaac Larian, who founded the Van Nuys company in 1987, has long envisioned developing something similar to Google Inc.’s Mountain View campus on the site. Construction would be completed around 2018.

“This is the first project we’ve done like this anywhere,” said project architect Lise Bornstein, of Santa Monica-based Killefer Flammang. “We designed the campus to have continuity with the neighborhood and reflect core ideas around health and wellness, whimsy and fun – stemming from the fact that it’s a toy company. I think the experience of this place is really unique.”

Read the full story in the Jan. 12 issue of the San Fernando Valley Business Journal.