Primestor Development wants to transform its Panorama Mall retail center into a major mixed-use project.
The Culver City-based developer has filed with Los Angeles City Planning its proposal for Panorama City Center with 4.5 million square feet of commercial, residential and hotel on the site.
The mall in Panorama City at 8401 Van Nuys Blvd. is bounded by Roscoe and Van Nuys boulevards, Chase Street and Tobias Avenue.
“Panorama City Center will introduce a dynamic mixed-use environment to a 17-acre site that today is significantly underutilized,” Primestor said in a statement. “The revitalization will deliver quality jobs, investment and economic empowerment to a community that has experienced under-investment over the last 50 years.”
As of now, no specifics — including a timeline or budget — have been submitted.
Primestor bought the Panorama Mall from Macerich in 2015 for $98 million. The deal included the purchase of the Aldi property across the street on Roscoe.
The 312,000-square-foot retail center currently has Latino-centric businesses such as a Curacao department store, in addition to tenants such as Walmart and Foot Locker.
Panorama Mall also stands across the street from a former Montgomery Ward site where developer ICON has been trying to create a seven-building project with 623 apartments, retail, restaurants and a 17,000-square-foot landscaped plaza.Â