Billionaire Rick Caruso Brings Back Palisades Village After Wildfire: “This Is One Chapter of the Comeback Story”
Palisades Village, the upmarket outdoor shopping centre in Pacific Palisades, Los Angeles, is set to reopen on 15 August, twenty months after the wildfire that destroyed more than 5,000 homes and displaced tens of thousands of residents in the area. Owner and billionaire developer Rick Caruso, whose own family lost homes in the blaze, has framed the reopening as an important step in the neighbourhood's recovery, arguing that communal gathering places help restore a sense of normality after disaster. The centre, which survived the fire while much of the surrounding commercial corridor was destroyed, has been fully stripped back and rebuilt to ensure it is free of contamination.
The Village, which opened in 2018 and has long attracted Hollywood talent and executives, will bring back established tenants such as Jennifer Meyer's jewellery boutique and the Netflix-operated Bay Theatre, alongside new additions including an Italian restaurant from chef Nancy Silverton and a grill from James Beard-winning chef Timothy Hollingsworth. Caruso, a prominent civic figure who spent over $100 million on an unsuccessful 2022 Los Angeles mayoral bid and has been critical of current mayor Karen Bass's handling of the wildfire response, said his company also funded public street improvements, including new pavements, lighting and greenery, along Sunset Boulevard beyond the centre's own boundaries.
- Palisades Village shopping centre reopens 15 August, 20 months after devastating wildfire.
- Owner Rick Caruso rebuilt it fully after his own family lost homes.
- New and returning tenants include Nancy Silverton and Jennifer Meyer businesses.