L.A. Considers Demolishing Abandoned Valley Plaza Shopping Center

Decline of Valley Plaza

• 💡 The Valley Plaza shopping center in North Hollywood, originally opened in 1951, is now abandoned and has been for nearly a decade.
• 🎯 Once a treasure and one of the first outdoor malls, business declined due to competition and it was severely damaged by the Northridge earthquake in 1994.
• 📌 After several owners, the Charles Company took over about 10 years ago but did not revitalize the property.

Public Nuisance Declaration

• ⚠️ The mostly vacant property has become a hotspot for fires, squatting, and other criminal activity, including a recent alleged overdose.
• 🚀 Councilmember Jimmy Nazarian is pushing for the city of Los Angeles to declare the site a public nuisance.
• 🎯 This declaration could grant the city the power to demolish the 17-acre property.

Next Steps and Costs

• 🔍 The Board of Building and Safety Commissioners will hear the proposal tonight.
• 💰 If approved, the cost of demolition will be referred back to the owners.
• 📈 The councilmember noted that the owners failed to invest during a period of low interest rates and are unlikely to do so now with high rates.