|Image courtesy Bing Maps|
|Image courtesy Loopnet|
Both Urbanize.LA and the San Fernando Valley Business Journal reported the latest Warner Center project to be proposed on May 12, 2015. The property is located at 5955 De Soto Avenue at the cross street of Oxnard Street with the current major tenants consisting of Accredited Home Health, University of Phoenix, NxTV (which provides digital entertainment and data in hotels) and Wells Fargo Dealer Svc.
The project proposes two phases with phase 1 for the construction of a 7-story, 193,000 sqft building to house 170 apartments including 13 live-work units and 5,700 sqft restaurant. There will also be parking for 258 cars and 196 bikes.
The 2nd phase is for the construction of 166,000 sqft commercial office building with 10,000 sqft for restaurant and retail space. There will also be parking for 490 cars and 254 bikes.
|Image courtesy Majestic Asset Management|
The project is being proposed by Majestic Asset Management of Van Nuys which acquired the property on June 27, 2014 for $9.45 million. This project is the latest in massive overhauls of the Warner Center area which include but not limited to the following:
- The Village at Westfield Topanga which will add a Costco, 50 shops, office tower, hotel, and more shops. But there is a pending lawsuit so this could get delayed significantly or even cancelled.
- The Panavision site being converted to a 707 unit apartment complex at 6219 De Soto Ave.
- A 300 unit apartment complex near Canoga and Vanowen at 6701 Eton Ave.
- The Pratt & Whitney Rocketdyne site may also be developed into 4,000 multifamily units which is currently for sale.
- The former Catalina Yachts manufacturing site at 21200 Victory Blvd will be converted into 600 units.
- The former Daily News HQ to become Live-Work complex.
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