Real estate mogul and former Los Angeles mayoral candidate Rick Caruso has unveiled major renovation plans for The Commons at Calabasas, a popular shopping center in the southwest corner of the San Fernando Valley.
The proposal, which was submitted to the city’s planning division in May, calls for up to 10 new stores, new restaurants, demolition of the Regency movie theater complex, and, most notably, the construction of up to 119 apartments.
“After listening to the Calabasas community, we have learned there is great demand for high-quality, elegant apartment homes,” a Caruso representative told KTLA. “Many community members requested [housing] be added to The Commons, including young professionals and families who may have grown up in Calabasas and wish to return, and seniors looking to stay in the community.”
The Commons, which opened in 1998, already features several large and established anchor tenants including Barnes & Noble, Rite Aid and a Ralphs supermarket.
The 33,000-square-foot Regal movie theater, however, suffered the same fate as many other theaters due to the COVID pandemic. It briefly closed after Regal went bankrupt in early 2023 and then reopened under the ownership of Regency Theaters.
It will eventually close for good, the Caruso representative said.
Another key component of the renovation plan is an area of new shops dubbed “Commons Lane” which, based on renderings provided to KTLA, will be constructed in the existing parking lot.
“The new gathering place will feature a variety of curated new shops, restaurants with outdoor dining, and a meandering paseo with wide sidewalks and beautiful landscaping at an attractive pedestrian scale,” Caruso explains on the Commons Lane website.
No cost or timeline for the project has been established.
The north and south edges of The Commons, the representative said, will remain untouched.
