Great location, right off the 170, plenty of parking….lots of dead stores. 180,ooo people live within a two mile radius of Laurel Canyon and Victory. Most are homeowners. Many of these homes are near the half-million dollar range. But they drive to Burbank instead.
There were plans as recently as 2011 to redevelop as a mixed-used residential lifestyle mall along the lines of Americana at Brand. Those have gone to the same civic graveyard as the one to redevelop the Montgomery Ward site in Panorama City. Neither developer was from the Valley. That’s the problem with being a colony. Absentee owners have no social disincentive not to sit on their holdings. Blight today will be worth more tomorrow, so let it be blighted. The City and the CRA will cut a fatter deal next time around.