MOVING ON OUT: PACIFIC PALISADES
Esteemed developer rick caruso brings his midas touch to the westside.
Just when you think a neighborhood can´t get more desirable, it does-thanks to Rick Caruso of Caruso Affiliated, the mastermind behind The Grove and 8500 Burton Way, among others. Palisades Village, slated to break ground next spring, will reinvent Pacific Palisades´ central shopping area at Sunset and Swarthmore, increasing property values throughout the area. The Palisades is already home to some of the finest residences in the city (like this seven-bedroom, French-style estate on Toyopa Drive that´s on the market for $19.5 million), but it lacks a true community hub. Designed by Marc Appleton of Appleton & Associates, Elkus Manfredi Architects and Caruso´s in-house team, the 2.8-acre “village” will create a town-square feel, replete with a neighborhood green. “We´ve listened to the community,” says Caruso, adding that they´ve truly heard its desires and concerns. To address traffic issues, the plan redirects street flow and parking, and includes an underground lot. It´s all about “increasing the quality of life at the heart of Pacific Palisades,” Caruso adds. Charm is the goal, so the developer is seeking specialty merchants near the Westside as well as exciting chef-driven restaurants. One of the biggest attractions will be a new cinema inspired by the old Bay Theater that once stood on the site. There are even plans to recreate its iconic Streamline Moderne marquee. A community room, specialty grocery and a limited number of luxury residences will round out the project, which is expected to open in late 2017.