Shopping Center Is Planned for 85 Acres
A Los Angeles developer announced plans Monday to build a $90-million discount shopping center on 85 acres just south of Six Flags Magic Mountain.
Riley/Pearlman Co. must still obtain permission from the Los Angeles County Board of Supervisors to build the unenclosed center, dubbed the Valencia Marketplace.
Residents of the nearby Stevenson Ranch housing development expressed concern Monday about the project, particularly about traffic.
“We just spent $11 million in Mello-Roos funds for traffic improvements and we’d hate to end up worse off than when we started,” said Richard Rioux, president of the Stevenson Ranch Town Council.
The proposed center is a joint venture between Riley/Pearlman, which has built more than 40 shopping centers throughout the country, and Newhall Land & Farming Co., which owns the land.
The center will include a discount department store, home improvement center and warehouse club as well as other shops.
Arthur L. Pearlman, a partner in the venture, said it is expected to provide up to 2,000 jobs.
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