PORTER RANCH, Calif., June 1, 2017 /PRNewswire/ -- Shapell Liberty Investment Properties was joined today by Los Angeles City Councilmember Mitch Englander, community leaders and business executives in a groundbreaking ceremony for the $150 million "The Vineyards at Porter Ranch," an upscale shopping, entertainment, and lifestyle center situated at the heart of the luxurious community of Porter Ranch, in the City of Los Angeles.
The Vineyards, a highly-anticipated addition to the Porter Ranch master-planned community, will be 345,000 square feet of well-designed, open-air space filled with signature restaurants and shops, a luxury movie theater, a Whole Foods Market, a Kaiser-Permanente medical office building, hotel and 266-unit luxury apartment complex.
"The Vineyards will be a sophisticated, pedestrian-oriented retail experience that not only will serve as a central gathering spot for Porter Ranch residents, but also as the prime choice for higher-end shops and restaurants serving this entire region," said John Love, Vice President for Shapell Properties Inc.
"The Vineyards has been a long time coming," said Councilmember Englander. "After more than a decade of planning and negotiations, residents of Porter Ranch can look forward to the completion of a gathering space worthy of this beautiful, dynamic community. The Vineyards will not only include an elegant design and first-rate retail experience, it also will offer communal space for engaging events and civic participation so that residents may fully express the identity of the Porter Ranch community."
The Vineyards will be built as a joint venture between Shapell Properties and Liberty Building Co., which have been long-term partners in developing Porter Ranch. The design includes a "main street" and central green area that will host community events, a 4,000-square-foot community meeting room, solar panels on rooftops to help supply power to the complex, a rainwater capture and irrigation recycling system and electric car charging stations.
Attending today's ceremony was Max Webb, who is 100 years old and one of the co-founders of Shapell, as well as many Porter Ranch community leaders who support the project.
Love said he is looking forward to announcing more tenants – including many well-known retailer brands – in the coming months. Information and announcements will be found at VineyardsatPorterRanch.com.
The Vineyards is being developed on the north and south sides of Rinaldi Street at the western intersection of Porter Ranch Drive. The main retail/entertainment complex will be north of Rinaldi, while the LEED-Gold certified medical office building and hotel will be south of Rinaldi, adjacent to the 118 freeway. The future luxury apartment community will be located to the north of the retail/entertainment area with direct pedestrian links to the heart of the center. Completion of the main shopping center is expected in late 2018, with completion of future phases, including the hotel and apartment community, to follow by 2020.
About Shapell Properties, Inc.
Shapell was founded in 1955 and was active as one of California's most prominent development and homebuilding companies for nearly 60 years. The company transitioned from a homebuilding company in 2014 and is now focused on the management and development of a mix of multi-family and commercial properties, with offices in Southern and Northern California.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/officials-celebrate-start-of-construction-for-the-vineyards-at-porter-ranch-300467116.html
SOURCE Shapell Liberty Investment Properties