According to the Los Angeles Daily News, demolition is now underway at the 61-year-old Rocketdyne Propulsion & Power Plant at Victory Boulevard and Canoga Avenue in Warner Center.
The approximately 46-acre property, vacant for the last several years, is being converted by owner United Technologies Corp. into what has been described as a $3-billion "sustainable urban neighborhood." The project, which is being developed in partnership with Boston Global Investors (BGI), will feature a series of high-rise and mid-rise buildings offering residential units and office space above ground-floor shops and restaurants.
A project page from the BGI website indicates that the Rocketdyne redevelopment would include:
- 3.95 million square feet of residences
- 240,000 square feet of assisted living facilities
- 1.2 million square feet of office space
- 200,000 square feet of retail space
- 155,000 square feet of hotels
- 310,000 square feet of cultural and civic amenities
- A five-acre central park
- 10,030 parking spaces
Other firms involved with the project include architecture firm HOK and the engineering firm Arup.
Construction of the Rocketdyne development would occur over approximately 10-12 years, although an exact start date has not been specified.