June 1, 2020 Comments Off on $1.5B Warner Center Promenade 2035 MXU Stadium District Advances Views: 1326 California News, Los Angeles, Top California

$1.5B Warner Center Promenade 2035 MXU Stadium District Advances

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Unibail-Rodamco-Westfield received a unanimous approval from the L.A. City Planning Commission for Promenade 2035, a mixed-use project in Woodland Hills’ Warner Center. A featured component of the proposed $1.5-billion development is a 7,500-seat sports and entertainment venue, with a partial roof or an enclosed 10,000-seat arena.

The 34-acre site would also include an urban district with nearly 1,400 residential units, 731,500 square feet of office space, 280,000 square feet of retail and restaurants and 572 hotel rooms. Promenade 2035 would replace the current Westfield Promenade mall.

The developer sees the stadium as a catalyst for economic growth that will attract additional investment in Warner Center. The facility will include dedicated space for cultural programming and community events.

The project now advances to L.A.’s Planning and Land-Use Management Committee, and must secure an approval from the L.A. City Council. The developer anticipates launching the project in multiple phases beginning in the 2021 to 2022 frame.

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