As if a nice transit station, couple of high rises, and mixed use developments all over the place weren't enough, North Hollywood is in for more revitalization. The Valley Plaza shopping center - that we've never heard of - is going to undergo some drastic changes to turn it into was is described as "a $560 million mega-mall."
Federated [Department Stores], which owns Laurel Plaza to the south along Laurel Canyon, has committed to putting a high priority on building a new Macy's to anchor the more than 20-acre development envisioned at the Valley Plaza site. It will be part of a shopping center that will encompass more than 500,000 square feet of space.Leading the effort to redevelop the site is J.H. Snyder Co. , who you may recall is also doing the NoHo Commons project. Can North Hollywood's artsy-hipster community handle another major retail/big box development in their community? Spread the word, the yuppies are coming! The yuppies are coming!
Other developments nearby are likely to include restaurants, theaters and a park, among other facilities.
Discussions are continuing over what role the city would play in helping the development, similar to efforts that have been done for other major projects in Hollywood, South Park and downtown.
· Big deal in works for NoHo [Daily News]