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Condos Out, Costco In: Westfield Downsizes Woodland Hills Mall

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Now smaller: Westfield's new retail center, which will site between its Topanga and Promenade projects
Back in 2007, Westfield announced plans for a $700 million redevelopment of about 30 acres, a project that would sit between Westfield’s Topanga center and Promenade center. Planned were a luxury hotel, about 160 residential units, a 360,000-square foot office tower, about 438,500 square feet of retail space and 75,000 square feet of restaurant space. Fast forward to today and the Daily News reports that the developer has decided to drastically change the project. Notably, the condo and apartment portion is being chucked. Via the News: "In a letter dated July 6 and sent to some households in Woodland Hills, Westfield executives blame the economic recession for their decision to eliminate the housing component and slash office and retail space at The Village at Westfield Topanga.

However, the plan also adds 146,000 square feet for a retail anchor - which sources confirm will be a Costco - in a nod to the changing consumer desires." City Councilman Dennis Zine said he supports the changes to the project, saying there is a "glut of housing" in the area.
· Megamall plan scaled back [Daily News]