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Caruso finally breaking ground on Americana at Brand.


CARUSO Affiliated Caruso Affiliated is a real estate development company in California, U.S.A.. It is headed by Rick Caruso.

It is known particularly for building higher-end outdoor shopping centers.
 Holdings has broken ground and released an early list of retailers to be housed at Glendale's Americana at Brand Americana at Brand will be a large outdoor shopping community in Glendale, California. The site is owned by Caruso Affiliated, who owns many other commercial properties such as The Grove at Farmers Market in Los Angeles, CA. , the mixed-use retail and residential development scheduled to open in 2008.

That has to be a relief for Rick Caruso, president and chief executive of Caruso Affiliated. Much like another Caruso just down the Foothill Freeway from Glendale, the project drew intense from some in the community.

"We experienced the same battle with this mall that we are in Arcadia," said Caruso, whose firm became well known in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region,  when it converted a portion of the Los Angeles Farmers Market into the Grove shopping center in 2002.

The Arcadia "battle," which dominates that city's council meetings and virtually fills the bedroom community's local newspapers, has even made national headlines.

Westfield Group, owner of the adjacent and rival Westfield Santa Anita Westfield Santa Anita, formerly Santa Anita Fashion Park, is a shopping mall in Arcadia, California, owned by The Westfield Group. It's anchor stores are JCPenney, Macy's and Nordstrom.  mall, has taken out full-page ads warning that the proposed development will charge for parking and pack the city streets with 30,000 more cars every day.

Both sides are predicting the Arcadia battle will end in a public referendum next year. But Caruso says he's taking it in stride.

After all, he won a monumental battle in Glendale against 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.
 Inc., the owner of the adjacent Glendale Galleria. General Growth filed a lawsuit to stop the Americana project even after city voters narrowly approved it in a 2004 special election that cost both sides more than $1 million each. The lawsuit was ultimately unsuccessful but not before General Growth pursued appeals nearly to the state Supreme Court.

The Americana is a $320 million mixed-use development on 15.5 acres in Glendale. It's expected to draw shoppers from Los Feliz, Silverlake, Pasadena and downtown Los Angeles Downtown Los Angeles is the central business district of Los Angeles, California, located close to the geographic center of the metropolitan area. The sprawling, multi-centered megacity is such that its downtown core is often considered just another district like Hollywood or . The 900,000-square-foot development will have 475,000 square feet of retail along with 238 apartments and 100 luxury condos.

Over 30 years, Glendale estimates the project will bring $124 million in incremental property tax and $51 million in sales tax sales tax, levy on the sale of goods or services, generally calculated as a percentage of the selling price, and sometimes called a purchase tax. It is usually collected in the form of an extra charge by the retailer, who remits the tax to the government. . "I think it's going to be even more successful than The Grove," Caruso said. 'T d stake my reputation on it."

On the retail list for Glendale are Lacoste, famous for its born-again crocodile logo; Juicy Couture, the top dog in high-end tee shirts and sweats; and H&M, the youth-targeted clothing retailer. Others are women's clothing and home accessory store Anthropologie, sophisticated A/X Armani Exchange, an Aveda Lifestyle Salon, natural products purveyor (World-Wide Web) Purveyor - A World-Wide Web server for Windows NT and Windows 95 (when available).

http://process.com/.

E-mail: <info@process.com>.
 Kiehl's, popular sportswear manufacturer Puma and urban youth haven Urban Outfitters. The open-air mall will also feature an 18-screen cineplex theater.

Staff reporter Emily Bryson York can be reached at eyork@labusinessjournal.com or at (323) 549-5225, ext. 235.
COPYRIGHT 2006 CBJ, L.P.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:MARKETPLACE
Author:York, Emily Bryson
Publication:Los Angeles Business Journal
Date:Sep 11, 2006
Words:444
Previous Article:Ch-ch-ch-changes.(LAW)(Brief article)
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