Here’s an overview of recent developments and news concerning Westfield Valencia Town Center in Santa Clarita:

Ownership Change and Redevelopment Plans

In September 2023, Centennial Real Estate, a Dallas-based real estate investment firm, acquired Westfield Valencia Town Center for $199 million. The acquisition is part of Centennial’s strategy to transform the 1 million-square-foot mall into a mixed-use "retail village" that integrates luxury housing, office spaces, and enhanced retail and dining experiences. The goal is to create a vibrant live-work-play environment that attracts visitors throughout the week, not just on weekends

Proposed Developments and Community Concerns

Centennial's redevelopment plans include the addition of a Costco, a 70-room hotel, a gas station, and 300 senior housing units. However, these plans have raised concerns among some Santa Clarita City Council members, particularly regarding the proposed 1,500-space parking structure, with requests for public funding ranging between $60 million and $75 million. Additionally, there are environmental and safety concerns related to the construction, including potential disturbances to toxic substances during demolition and the installation of gasoline storage tanks.