Palisades Village shopping center could reopen in early 2026, Rick Caruso says

LOS ANGELES (KABC) -- In the middle of the disaster zone that is Pacific Palisades sits Rick Caruso's Palisades Village almost untouched by fire, but surrounded by devastation that is difficult to comprehend. the nearly three acre, 125,000 square foot shopping center with 42 businesses and services has been closed since the fire. But, plans are underway to reopen.

"We are really waiting until the area around us gets cleaned so it's safe and the streets are fully reopened again ... Everything will be fresh and new so we need some time to do that, but the plan is beginning of the year," said Caruso, founder and executive chairman of the company Caruso, which owns and manages Palisades Village.

Early 2026 is a date that may seem ambitious because it will likely take years to rebuild the thousands of structures lost. But Caruso believes the fact that Palisades Village survived thanks to the efforts of private firefighters, water tenders the company brought in, and fire resistant materials used to build the mall which opened back in 2018, the only thing to do is to give people a reason to come back during this time of transition.

"You want to protect your property. We protected our property, and we also freed up L.A. fire resources to go protect other properties. We were very much independent. We were also loaning our equipment to L.A. fire department that was short equipment. We're very much a part of the community. It was the smart thing to do," said Caruso.

Caruso believes a few tenants at Palisades Village will not come back, but that the majority will, and the look and feel will not change.

"We have received multiple messages from friends and customers that lived and lost their homes in this community, asking us to come back and telling us they're eager for us to rebuild, and they want us to be part of the new community. We are very excited and will wait for the right time when everything is safe for us to come back 100 percent," said Tancredi Deluca, the owner of Angelini restaurant and bar, which is located at Palisades Village.

Caruso says according to Palisades Village data, 35% of their regular customers lost homes in the fire. But 65% live outside the Palisades. The hope is that the rebuilding of the Palisades will be expedited by restoring that sense of community in the village.