Americana at Brand developer Rick Caruso wants to expand his 15.5-acre retail center and is gunning for two adjacent properties to do it.
Caruso is angling to acquire the Golden Key Hotel at 123 W. Colorado Blvd. and an adjacent building. He would replace them with 60,000 to 140,000 square feet of new retail space, landscaping and a plaza. He said the improvements would remove blight, raise $80 million in annual sales revenue and create jobs. And the Americana would pay all of the estimated $50 million for the changes.
Caruso’s efforts to buy the properties have so far failed, according to city documents. But the city may be able to use the power of eminent domain to acquire the properties, as it did with nearby buildings in paving the way for the Americana several years ago.
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