The grand reopening of Caruso’s Palisades Village shopping center could come in early 2026, will feature a new Elyse Walker flagship boutique after her very first store, beloved by celebrities and well-heeled Angelenos, burned in the devastating January wildfires.
Developer Rick Caruso – a longtime Pacific Palisades resident whose own home was damaged while his daughter’s home was reduced to ash in the deadly and devastating wildfire that tore through his community – is vowing to breathe new life back into the beloved neighborhood perched above the ocean by reopening his shopping center.
During a press conference in an active construction zone Wednesday, Caruso was flanked by fashion powerhouse Elyse Walker who lost her longtime flagship store to the wind-fueled flames as she announced she will rebuild at Palisades Village, the lifeblood of the neighborhood that was left largely unscathed by the January fires.
Walker’s announcement that her boutique empire – which began in the Pacific Palisades and now can be found on the trendiest streets of New York City and Newport Beach – will be a sprawling centerpiece in the revitalization and rebuilding of the area was a much-needed sign that the beloved community will make a strong comeback. One that Caruso believes could come as early as the start of 2026.
“I knew that I wanted a store to feel like a home base within the community,” she said. “More than a store, it was where friends & family got together to connect, celebrate and of course, shop,” she said. “We fully intend to recreate the elysewalker experience at the Village and cannot wait to be back in our beloved Palisades community.”
Caruso also announced that his company has already committed roughly $50 million to upgrade Palisades Village and improve the surrounding streets and sidewalks as residents who want to rebuild begin a return to their lives. He applauded Walker for her “shared determination to bring back the Palisades better and stronger.”
“When a retailer chooses to invest here, it is a powerful voice of confidence in a bright future,” Caruso said. Reopening Palisades Village, a vibrant mecca of clothing, dining, and the arts, will be part of a dedicated effort to ensure that their “community remains a place where families flourish, businesses succeed, and neighborhoods thrive.”
The Palisades Fire devoured nearly 37 miles of the Pacific Palisades and Malibu, destroying thousands of homes and businesses and claiming a dozen lives. Corrine Verdery, the CEO of Caruso, said that the company has made a long-term commitment to making Palisades Village a symbol of “resilience and optimism for the future” of the neighborhood.