Larry Green and Warner Center
The French commercial real estate firm that bought mall operator Westfield is advancing with its plan for a 15,000-seat arena at Warner Center, part of its $1.5 billion mixed-use redevelopment project.
Unibail-Rodamco-Westfield has reached the environmental review stage of the proposed arena, part of the massive redevelopment, the Los Angeles Daily News reported.
The final environmental impact report for the proposed 320,000-square-foot arena is still in the works, and company officials have not released all the details, according to the report. An executive for Unibail said it was discussing terms with potential tenants, including a professional soccer team, a minor league baseball, and concert venue operators.
In addition to the arena, the redevelopment project aims to replace a vacant mall at 6100 N. Topanga Canyon Boulevard in Warner Center with 1,430 residential units, 244,000 square feet for shops and restaurants, 629,000 square feet for office space, and 572 hotel rooms.
Earlier this month, Hanover Company secured a $94-million construction loan for a 394-unit complex at 6636 Variel Avenue in Warner Center, and Douglas Emmett filed plans to build a three-story office complex on Canoga Avenue in its 360,000-square-foot campus.
Warner Center is set to see 24,000 new residential units by 2033. Last month, California Home Builders secured a $90-million loan for its residential project on Topanga Canyon Boulevard with 347 units. [Daily News] — Gregory Cornfield
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