The planned growth in the next few years in the Southeast San Fernando Valley is substantial and will have a significant impact on real estate prices in our area. Successful redevelopment can mean an increase in property values and overall quality of life in the San Fernando Valley.
These projects include more than seven developments in the Universal City, North Hollywood area, as well as an expansion of the Los Angeles Valley College and other projects in Valley Glen and the continuing relocation of CBS employees to their Studio City lot.
On Thursday, February 28th five Neighborhood Councils in the San Fernando Valley held a "Valley Vision Town Hall" meeting to discuss the effect of a number of these developments.
The Town Hall discussed projects with Universal MTA Station on Lankershim, the North Hollywood MTA Station on Lankershim, the North Hollywood Commons on Lankershim, the Universal Backlot on Barham, Valley Plaza on Laurel Canyon, Laurel Plaza on Laurel Canyon, and Vineland Avenue at Chandler. The Neighborhood Councils have estimated that these developments would add new high-rise buildings of up to 37 stories with more than 12 million square feet of space, and more than 5, 400 new residential units, plus 14,817 new parking spaces. For an overview of the current plans, you can go to North Hollywood Expansion Overview Map
Many of these projects will have a great impact on revitalizing our business districts and encouraging growth in our neighborhoods. At the same time, the strain on infrastructure for these communities cannot be ignored. Some of the projects, including the Valley Plaza and Laurel Plaza have been working with the Neighborhood Councils to provide a roadmap and common vision. CBS has been working with the Studio City Neighborhood council to work out the logistical problems created by the expansion. Others have been less forthcoming at sharing their plans or projections with the general public.
While many are excited about the growth and potential of these developments, it is in everyone's best interest to stay informed of the development of each of these projects. To find out more information and to find links for the Neighborhood Councils, www.geoffre.com and www.peterwolfre.com
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