CARUSO GIVES UP ON MALL.Byline: Naush Boghossian Staff Writer GLENDALE - Award-winning developer Rick Caruso angrily abandoned plans for a $264 million open-air mall in downtown Glendale, leaving stunned stun tr.v. stunned, stun·ning, stuns 1. To daze or render senseless, by or as if by a blow. 2. To overwhelm or daze with a loud noise. 3. city officials scrambling Wednesday to determine the future of the prime commercial site. General Growth Properties General Growth Properties (NYSE: GGP) is a publicly traded real estate investment trust in the United States. It is based in Chicago, Illinois. History The company was founded by two brothers, Martin and Matthew Bucksbaum, in 1954. , owner of the Glendale Galleria The Glendale Galleria is a large 3 story regional shopping mall located in Glendale, Los Angeles County, California. It is the second largest mall in Los Angeles County. It is located in Downtown Glendale. , which fought hard to block Caruso, offered to take over the Town Center project, and city officials were studying alternatives in the light of warnings that it will now be difficult to get a quality development downtown. Caruso - whose previous projects include the Calabasas Commons, The Grove at the Farmers Market and The Promenade in Westlake Village - withdrew his plan for the Glendale Town Center Glendale Town Center aka Glendale Mall or Glendale Center Mall is located at 6101 North Keystone Avenue in Indianapolis. The mall was built in 1958 as an open air shopping center and was designed by Victor Gruen and Associates. just before midnight Tuesday, saying he didn't have enough votes to overcome zoning-law issues. ``To spend four years and $5 million to design a project ... and today to have a procedural issue stop us is beyond my comprehension,'' Caruso told the council, which had been scheduled to approve the project April 13. ``You think there is a better deal out there? God bless you, you go find it. Any developer worth its salt isn't going to go anywhere near this place.'' Glendale City Councilman Rafi Manoukian Rafi Manoukian is a former member of the city council in Glendale, California. He was recently notified that he has been selected by the Board of Directors and the Selection Committee of the National Ethnic Coalition of Organizations (NECO) as a recipient of the 2006 Ellis Island took Caruso's warning seriously. ``I think no developer will touch the city of Glendale with a 10-foot pole,'' said Manoukian, who supported Caruso's plans. ``The city is not going to see a Town Center in the next 10 years. At this point, it's over.'' Jack Kyser, chief economist The Chief Economist is a single position job class having primary responsibility for the development, coordination, and production of economic and financial analysis. It is distinguished from the other economist positions by the broader scope of responsibility encompassing the for the Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County Economic Development Corp., agreed that perceptions that Glendale officials strung along Caruso - who after a competitive process was named unanimously by the City Council in 2001 to be the site's developer- would likely scare off Verb 1. scare off - cause to lose courage; "dashed by the refusal" daunt, frighten away, frighten off, scare away, pall, scare, dash intimidate, restrain - to compel or deter by or as if by threats others. ``Rick Caruso is a very-high-profile developer with a solid track record. And if a Rick Caruso pulls out on you after four or five years, this sends a very negative message about doing business in the city of Glendale. ``They're going to have a tough time trying to attract somebody else to do this project.'' Caruso planned stores, restaurants, a movie multiplex See multiplexing. , more than 300 condominium condominium In modern property law, individual ownership of one dwelling unit within a multidwelling building. Unit owners have undivided ownership interest in the land and those portions of the building shared in common. and rental units and a 1.8-acre city park for the 15 1/2-acre site adjacent to General Growth's rival Glendale Galleria. General Growth campaigned heavily against Caruso's plan and submitted an unsolicited alternative to it. When it became clear last month that the Galleria owner held virtual veto power over a zoning change that Caruso needed for his project - and the City Council accepted that interpretation Tuesday - Caruso walked away. After the meeting, Caruso said there were other procedures the council could have utilized to change the zoning to the mixed-use designation he needed, but it became obvious that he didn't have the three votes needed to do it. ``It's fine. It's part of the business, and we'll move on. We have other projects,'' Caruso said. ``But there's just something about a handshake and doing the right thing. At a certain point in time, you have to have the backbone to stand up and do what's right.'' Carol Jacobs Carol Jacobs (born New York City) is a former American othello player. In 1978, she was runner-up in the World Othello Championship. US champion 1977 and 1978. Placed 4th at the 1977 World Othello Championship and was runner-up at the 1978 WOC. , group vice president of management for the Galleria, said the company was willing to take over the Town Center project. ``We are committed to seeing a good Town Center that connects all of downtown, and if asked by the city we would be willing to build it.'' Separate from the Town Center issue, Galleria owners plan to submit a proposal in the next 90 days to renovate the mall, giving it a more prominent retail and restaurant presence along Broadway and Central Avenue. ``The Galleria is such a big part of Glendale. We're going to continue to invest significant amounts of money into the Galleria and the city of Glendale,'' Jacobs said. Mayor Frank Quintero, who objected to Caruso's plan to close off several streets for the Town Center, predicted that other developers would be lining up to build the project. Caruso said he would proceed with an antitrust lawsuit he filed in February against General Growth, saying the company engaged in anti-competitive practices Anti-competitive practices are business or government practices that prevent and/or reduce competition in a market (see restraint of trade). Anti-competitive practices can include: tr.v. in·tim·i·dat·ed, in·tim·i·dat·ing, in·tim·i·dates 1. To make timid; fill with fear. 2. To coerce or inhibit by or as if by threats. potential Town Center tenants. Councilman Bob Yousefian called for Caruso to reconsider his decision. ``We're hoping that Mr. Caruso takes a look at this and comes back - that after putting up with this for three years, he'll put up with it for another four months,'' Yousefian said. ``The worst-case scenario worst-case scenario n → Schlimmstfallszenario nt is Mr. Caruso doesn't come back, but there will be a Town Center there. That was not the end of that project.'' City Manager Jim Starbird said his staff will put together options for the council to consider for the Town Center site. The city has purchased about 75 percent of the land for the project, with 12 parcels still to be bought. Officials will have to determine the fate of old businesses on the 15 1/2 acres whose owners were told they'd have to relocate. ``We're back to the drawing board again. We need to determine what is going to happen now with this very significant part of downtown,'' Starbird said. ``We have to try to pick up the pieces ... and get a sense of where we go from here.'' Naush Boghossian, (818) 546-3306 naush.boghossian(at)dailynews.com CAPTION(S): photo, box, map Photo: (color) Town Center project developer Rick Caruso Box/Map: ORPHANED TOWN CENTER SOURCE: City of Glendale Daily News |
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