The rumors have been flying for a while now about the corner near the Magic Mountain entrance at the Old Road. Grading has been done, the gas station has been moved, and the freeway interchange has been upgraded. The rumor was that this entrance area was to become a new entertainment destination similar to the City Walk in Universal City.

According to Lennar, the builder for this site, this is not going to be a City Walk type development. The current construction is simply two office buildings that will add about 200,000 square feet of office space to the area. There is a Regional Planning Commission (RPC) meeting on this project scheduled for May 16, 2007. Lennar expects to break ground on these buildings in June or July, with about 12-18 months to complete this first phase. These will be 4-story Class A buildings, and will apparently be the first of this kind in the Santa Clarita area.

Future plans for this area include 1 million square feet of commercial development, along with some nearby residential development. The retail / commercial area is proposed to be a "lifestyle" area, with retail and possibly a Dave and Buster's type restaurant and atmosphere. So, it will definitely be an entertainment-oriented destination, but not a City Walk caliber project.

Linda Slocum

SantaClaritaRealEstateBlog.com

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