[Elvis]

https://www.dailynews.com/2022/03/16/pr ... 0-million/

Promenade Mall property in Woodland Hills sells for $150 million

The mall operator didn't disclose the name of the buyer but there media reports that the site could potentially work as a year-round facility for the Rams.

By OLGA GRIGORYANTS | [email protected] | Los Angeles Daily News
PUBLISHED: March 16, 2022 at 5:23 p.m. | UPDATED: March 16, 2022 at 5:33 p.m.

Paris-based Unibail-Rodamco-Westfield announced Tuesday, March 15, that the company sold the vacant 34-acre site of the former Promenade Mall in Warner Center for $150 million.

The mall operator did not release the name of the buyer, but media reports have hinted the NFL’s Los Angeles Rams were considering the site for a year-round practice facility.

L.A. City Councilman Bob Blumenfield said in a statement that “there is a plan in place for a venue at that site that protects the community and could let our Super Bowl champs get something up and running in my district pretty soon, which is incredibly exciting.”

A spokesperson for the Rams, who defeated the Cincinnati Bengals 23-20 in Super Bowl LVI at Inglewood’s SoFi Stadium last month, did not immediately respond to requests for comment.

Jake Flynn, the councilman’s spokesman, wrote in an email that the current entitlements will be transferred to the new owner and the councilman’s office will work closely with them on the future development.

“Many more details to come but it’s incredible to see this level of investment and excitement in Warner Center, which is a great place to do business,” he wrote.

Before that buzz was launched, the mall operator recently completed the city’s planning and development process for the property, getting approval for a 3.2 million-square-foot mixed-use urban district with apartments, hotels, offices, entertainment and a sports arena. The Los Angeles City Council approved the project in 2020.

The once-popular mall, which hosted department stores such as Saks Fifth Avenue and Macy’s, has been vacant for years. After an exodus of anchor stores, several adjacent businesses have remained, including AMC Theatres, Corner Bakery Cafe and Maggiano’s Little Italy.

[Elvis]

Demoff says Kroenke did buy that land and it may end up being the Rams new training facility but that's not a lock...

[Haden]

150 mil??? Chump change for Stan

[St. Loser Fan]

Demoff says Kroenke did buy that land and it may end up being the Rams new training facility but that's not a lock...

Where have I heard that before?

At least the fib is evolving.

[rams74]

Where have I heard that before?

At least the fib is evolving.

It does have that feeling of déjà vu. And yet, this time around there's no clear reason for subterfuge. I mean, it's just a training facility we're talking about.

[Elvis]

I'm guessing they want to keep their options open plus i've heard Demoff say in the past the Rams were entertaining offers from various locations so maybe this land is a way to get others to make or up their offers and if nothing better comes along, they build in Woodland Hills...

[St. Loser Fan]

It does have that feeling of déjà vu. And yet, this time around there's no clear reason for subterfuge. I mean, it's just a training facility we're talking about.

I guess Demoff just can't help himself.

[St. Loser Fan]

I'm guessing they want to keep their options open plus i've heard Demoff say in the past the Rams were entertaining offers from various locations so maybe this land is a way to get others to make or up their offers and if nothing better comes along, they build in Woodland Hills...

Maybe the Rams want somewhere more secluded rather than a cleared off shopping mall at a major intersection?

Some teams like their training facilities in remote areas. Like I've said before the Bears have theirs surrounded by a nature preserve, off a barely marked road. But then you have teams like Dallas where their training facility is a public showpiece.

[Elvis]

https://www.dailynews.com/2022/05/05/bi ... BugRjjC5hM

Billionaire Rams owner Stanley Kroenke is the new owner of the vacant Promenade mall in Woodland Hills

Councilmember Bob Blumenfield says Kroenke might want a stadium, but it seems more likely he'll stick with the existing multi-use plan

By OLGA GRIGORYANTS | [email protected] | Los Angeles Daily News
PUBLISHED: May 5, 2022 at 5:37 p.m. | UPDATED: May 6, 2022 at 7:27 a.m.

After months of speculation over who bought the vacant Promenade mall in Woodland Hills, Los Angeles City Councilmember Bob Blumenfield confirmed to the Los Angeles Daily News that its new owner is billionaire Stanley Kroenke, owner of the Rams.

The 34-acre Promenade mall was sold in March by Paris-based Unibail-Rodamco-Westfield for $150 million, but the French mall owner did not reveal the buyer. Media reports have hinted that the Rams were considering the site for a year-round practice facility.

“We know that that (The Kroenke Group) have different interests and they might put a stadium there,” Blumenfield said. “But unless they come to the city to ask for changes of some sort, and we grant them, they still have to do all what’s required in the entitlements” — the city’s agreement approved under the previous owner.

He said it was unclear whether Kroenke would build a stadium or a training facility, or simply adopt the approved plan developed by former mall owner Unibail-Rodamco-Westfield.

He added: “I assume one of the reasons they bought it was because of the way it was entitled.”

In 2020, the Los Angeles City Council entitled a plan to transform the aging shopping mall into a $1 billion entertainment, sports, dining and residential complex. To be built in phases by 2035, it was envisioned as a major destination project with 1,432 apartment units, a 28-story office tower, two hotels — and a 10,000-seat entertainment and sports center.

“Nothing is changed on the entitlement,” Blumenfield said. “The only thing that’s changed is that The Kroenke Group bought the property.”

Blumenfield added that he had no reason to think Kroenke’s intent would be “radically different” from the existing Promenade plan.

The Rams currently practice during the season at Cal Lutheran in Thousand Oaks, a temporary site that offers the team three practice fields. They have staged a training camp at UC Irvine, and the team’s headquarters is in Agoura Hills.

Spokespeople for the Rams and The Kroenke Group did not respond to requests for comment.

The original Promenade plan led to concerns from residents that the massive project would worsen traffic in the already congested Woodland Hills area and along gridlock-prone Topanga Canyon Boulevard.

Cal Lutheran University has been home to the team since 2016 after it moved from St. Louis. The team owners have been looking for a permanent training facility. Meanwhile, the Rams have funded two practice fields, a paved parking lot and temporary modular buildings containing offices, training areas and locker rooms, on the Cal Lutheran campus.

About 130 athletes, coaches, trainers and other staff members are based on the campus, according to a 2016 agreement between the university and the team.

[snackdaddy]

150 mil??? Chump change for Stan

150 mil for him would be like me digging in the couch cushions for change.