Location
The Laurel Canyon Commercial Corridor Redevelopment Project Area is located in the San Fernando Valley. The 248-acre project generally follows Laurel Canyon Boulevard from Burbank Boulevard to Vanowen Street. The original Redevelopment Plan was adopted in 1994 after the Northridge earthquake.


Goals
To repair damage caused by the earthquake and help the Project Area recover economically.


Conditions at Time of Adoption
The selection of the Project Area was guided by our survey of buildings with the most concentrated earthquake damage, or which were otherwise severely affected by the earthquake and subsequent aftershocks. The task of rehabilitating these structures could not be accomplished by private individuals or businesses working on their own, or by other City funding methods

Valley Plaza, a 23-acre regional shopping center, was built in 1950s. It was in poor condition even before the earthquake.

The original Development Plan is set to expire in December 2009, but it is being amended so that we can continue to help repair, restore, demolish or replace properties damaged in the earthquake as well as other deteriorated portions of the Project Area.


Our Key Accomplishments

• CRA/LA continues to work with the community and the developer of Valley Plaza to rehabilitate the shopping center.
• We directed the preparation of conceptual plan drawings for the Valley Plaza Streetscape Program.
• We purchased and installed playground equipment for Valley Plaza Park.
• We supported development of the Sidney M. Irmas Transitional Living Center and Valley Shelter (also known as L.A. Family Housing Corp.), on Lankershim Boulevard.
• Construction began in December 2008 on Ivy Terrace, a 52-unit housing development in Van Nuys for low-income working families. Ivy Terrace will have energy- efficient heating and cooling systems, and appliances, as well as a solar energy system that will generate 50 percent of the energy needs for all community areas. Completion is expected by June 2010.

Five-Year Goals
Between 2009 and 2014, CRA/LA plans to further improve the Laurel Canyon neighborhood by means of:

Economic Development. Redevelopment of Valley Plaza and Laurel Plaza shopping centers is currently in the planning stages. Possible options for Valley Plaza include development of approximately 775,000 square feet of retail space, 3,000 parking spaces, and related streetscape improvements.

According to the proposed plan, a portion of Valley Plaza Park would be relocated to Laurel Plaza. The replacement park would be at least as large as the park space being removed. Redevelopment of Laurel Plaza is estimated to generate 1,600 construction jobs and 1,300 permanent jobs.

Public Improvements. The Valley Plaza Streetscape Program comprises Laurel Canyon and Victory boulevards and Erwin Street. Conceptual plans include landscaped street medians, new trees, improved lighting and crosswalks, and new district signage.

Developing Affordable Housing. We will work with property owners and developers to encourage development of housing in the Project Area that is affordable to a range of income levels.

Strategic Planning. We are working on an amendment to the Redevelopment Plan that would extend its effective date to December 2027, extend the time limit to incur debt to December 2024, and authorize use of eminent domain over a portion of the Project Area. Eminent domain—which involves purchasing properties from private owners for specific public uses—would be effective for 12 years from the date the amendment is adopted.