A renovation of the decades-old Commons shopping center in Calabasas, a marquee property in the Rick Caruso development portfolio, got underway this week with a groundbreaking ceremony and the promise by officials of new stores, restaurants and apartments on the site as soon as the end of this year.
The addition of a dozen or more curated shops and dining destinations, mostly on the north side of the center’s main thoroughfare known as Commons Lane, will accompany 80 apartment homes to be constructed on the south side of the street where the center’s former movie theater used to be. All of this in addition to the more than 200,000-square-foot existing shopping center that has served as a main retail hub for the city since it opened in 1998.
“For nearly 30 years, The Commons at Calabasas has been a place where the community comes together,” said Corinne Verdery, Caruso’s chief executive officer. “It has grown alongside this city, serving as a destination to shop, dine, and connect. Today, we are proud to break ground on its next chapter.”
OLD WORLD CHARM—Except for the movie theater, The Commons’ original components, such as this decorative statue evoking ancient times, will not be touched. Acorn file photo
The city and its Caruso partners hope the 190,000 square feet of total added construction will breathe new life into the iconic retail center, which was built along with the Calabasas Civic Center on what used to be a 70-acre unused dirt field owned in the mid-1990s by the Kilroy Realty company.
Caruso purchased a share of the acreage from Kilroy and broached the idea of building one of his signature Mediterranean-themed, destination retail centers there. A few years earlier he had just opened his Promenade shopping center in the Westlake portion of Thousand Oaks, a project that received high marks in the community and continues to thrive.
“And he gave us a proposal, and the city council had a bunch of workshops, and the community was persuaded, and the council, which did not agree very much back in those days, unanimously approved the entitlements you see today,” said Calabasas Mayor James Bozajian, who was also the city’s mayor when The Commons birthed in 1998.
SHOVEL READY—City officials, contractors and Caruso team members break ground in the former parking lot area facing the old Commons theater. The space will offer shops, restaurants and areas designed for strolling and community gatherings. MICHAEL COONS/Acorn Newspapers
“Times have changed over the last 30 years, and now the concept of mixed-use developments is much different,” Bozajian said. “Back 30 years ago, it was unheard of relatively, and people did not want it. Now, with the housing needs, we welcome it, so we’re glad to have this project.”
The final iteration of The Commons makeover represents a slightly smaller footprint than what was originally approved by the City Council in 2023. Building height, traffic and parking remained areas of concern by city officials and members of the public throughout the approval process, and the number of apartments was reduced.
Caruso talked about the economics of doing business in Calabasas.
“Capital flows where it’s safe, and where it’s allowed to grow,” he told attendees at the Feb. 3 groundbreaking.
“In an era where so many cities are struggling and disruptive, in an era where so many people are not investing in cities, because of some chaos or the lack of leadership, the City of Calabasas is just the opposite. We want to have our capital here. We want to be a partner here,” Caruso said.
“What we heard loud and clear, as we were going through the process, is more and more people want to have an opportunity to stay in Calabasas as maybe their lives transition,” he added. “When they become empty-nesters and want to move into an apartment and move out of a home—whatever the case is, or have a child living closer—into an apartment. It’s going to bring vitality and energy to this project. Although it’s been great, it’s gonna take it to a new level.”
Builders say some of the stores and restaurants could by open by the end of 2026, with the apartment homes coming online in 2027.