Australian retail mega-landlord Westfield has filed plans to redevelop the decaying Westfield Promenade site in Woodland Hills into a mixed-use project with apartments, offices and hotels.
The plans call specifically for 1,432 apartment units, two hotels with 572 guest rooms, 244,000 square feet of retail space, 600,000 square feet of offices and a separate center for “entertainment and sports,” according to city filings.
Westfield appears to be doubling down on the area. The company is also behind the freshly renovated Westfield Topanga just up the street. It spent $500 million on the redevelopment of the Topanga property, bringing in tenants such as Neiman Marcus.
It’s owned the troubled Promenade since 1998, and was accused in a 2015 lawsuit of deliberately allowing the mall to deteriorate. The property was 80 percent vacant as of last July, a store owner told the L.A. Daily News.
Westfield bought the 1970s-era mall for $33.5 million in 1998. — Cathaleen Chen