Palisades Village to reopen in 2026, Caruso confirms

Caruso confirms 2026 reopening of Palisades Village

The wildfire recovery process continues in the Pacific Palisades. The rebuilding effort includes new plans from developer Rick Caruso.

PACIFIC PALISADES, Calif. - Rick Caruso's Palisades Village, which was notably saved during the Palisades Fire by a private firefighting team, is set to reopen in 2026 following a significant revitalization effort. 

What we know:

Caruso announced plans for the reopening of Palisades Village in 2026 during a press conference on Wednesday, May 28.

According to Caruso, this development was made possible after his private firefighting team protected the village during the Palisades Fire.

Caruso intends to invest $50 million in reconstruction efforts. 

SUGGESTED: Thousands of wildfire victims are having tax refunds sent back - Here's how to get your money

This investment will cover a new design for the public park and outdoor shopping mall, and the rebuilding of streetscapes around the village, including the restoration of sidewalks, lighting, and landscape. 

New tenants are also being announced, with boutique owner Elyse Walker confirmed to open a new store. 

A new restaurant has also signed on for a new dining experience, which will be announced at a later date. 

SUGGESTED: California lawmakers announce new legislation supporting inmate firefighters

What they're saying:

"We've partnered with Rick before, with Town. We've also, we're in his Calabasas Center. But the thing with Rick is not only the integrity and his team is spectacular, but he values small businesses," said Walker.

SUGGESTED: PCH is back open, and Malibu businesses couldn't be happier

"And it sends a signal to Altadena and Malibu that this same kind of rebirth and reinvestment and economic boom can happen. So it's a critically important thing. And it sends the message to all of our fellow landlords, let's get reopened, repopulate these stores and rebuild this downtown that people can come and enjoy while their homes are being rebuilt," said Caruso.

What's next:

Construction will be ongoing, but the annual Christmas tree lighting and menorah celebration are planned to return this holiday season. 

Further announcements regarding new tenants and dining experiences are expected.