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Thursday, Feb 2, 2023
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Revised Plan for Campus in Conejo

Developer Kennedy Wilson has submitted new designs for a residential project at One Baxter Way, the Thousand Oaks business park near Westlake Boulevard and the 101 freeway. Reflecting nine months of input from Thousand Oaks city staff, the new plan – submitted to Thousand Oaks City Council – calls for the same number of apartments as previously proposed at 240. However, the format for the two buildings of residential units has been altered to one two-story structure and another three-story structure, in contrast to the original three- and four-stories, respectively. The apartments will be built over one level of underground parking that will serve both buildings. Twenty-nine apartments, or 12 percent of the total units, will be devoted to low-income renters. The plan also seeks to replace a parking lot to the northwest of a 400,000-square-foot industrial structure on the land. The property is a subset of the 42.9-acre The Oaks parcel. Prudential Insurance Co. originally planned the property as part of the Westlake North Ranch Specific Plan, which also includes the Caruso-owned Promenade at Westlake Village shopping center. Kennedy Wilson has proposed a five-story parking structure to the west of the multilevel office building for use by employees and visitors. Caruso has endorsed the proposal and Kennedy Wilson’s application to the City Council included an endorsement letter from Chief Executive Rick Caruso. The project will be several years from beginning construction should it be approved. The next step for Kennedy Wilson will be to have the City Council sign off on a general plan amendment that would change the 8-acre parcel’s zoning from industrial park to residential before progressing with the formal application process.

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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