Nearly three months after rumors first emerged for yet another transformative mixed-use development in Warner Center, Los Angeles-based Adler Realty Investments has officially filed plans for the project.
The proposed development, located on an approximately 24-acre site at Burbank Boulevard and De Soto Avenue, is slated for an eight-phase development that would encompass more than 2.6 million square feet of programmed space. According to a February presentation to the Woodland Hills - Warner Center Neighborhood Council, the project will entail nine buildings with somewhere in the range of 1,000 residential units, 222 hotel rooms and 1.4 million square feet of offices, shops and restaurants.
The property - currently improved with an office park - was purchased by Adler in 2013 for approximatley $80 million.
It is the latest in a series of large mixed-use communities proposed in Warner Center, which facilitates such developments through its large properties and generous zoning. In addition to Adler, large multi-phase projects are slated for the former Rocketdyne facility on Canoga Avenue and the Westfield Promenade on Topanga Canyon Boulevard.
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