Casden’s Los Angeles M-F Development Leasing Up
- Apr 30, 2008
Palazzo Westwood Village in the heart of Westwood Village of Los Angeles is leasing quickly and expected to be full by the end of the year. A total of 350 rental town homes are now occupied.Retailers have signed on for most of the commercial space along Glendon Avenue. Trader Joe’s and Rite Aid are two anchors. Also scheduled to open this summer are Pastagina, Jersey Mike’s Subs and It’s a Grind coffee.Created by Casden Properties, Palazzo Westwood Village embraces the architectural tradition of Westwood with its Spanish revival design.It has integrated the controversial Glendon Manor, a building considered historically significant, but in a state of decay. The original proposal included demolition of the 1929 building. It now houses two-story town homes on its upper level as well as a spa and fitness center on the first floor.The development is in walking distance of the town’s shopping, movie theatres, restaurants, and museum, UCLA and medical center.As reported by the Los Angeles Business Journal, one block west on Westwood Boulevard, about one quarter of the shops are vacant. Meanwhile on the site of the former Mann National movie theaters Simms Commercial Development has a development project. Hekmat has plans for a mixed-use project that will include a hotel and retail space, and Topa Management Co. remains heavily invested in the village.The Palazzo’s rental homes all offer gourmet kitchens with hardwood floors, fireplaces, high ceilings and terraces. Residents have gated access to the project. An additional 500 parking spaces are available for retail tenants and public use.