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The Community Redevelopment Agency purchased a retail shopping center and parking lot on Sherman Way that may be just the first transaction in a larger land assemblage.
“We’re hoping to acquire property for a possible redevelopment project,” said Jay Virata, CRA/LA regional administrator. “There’s no specific design of a project at this time. It’s going to be opportunity driven depending on how much land we can assemble.”
The agency would like to acquire the entire block but Virata didn’t sound enthusiastic about the possibility of getting that far citing funding issues and willingness of property owners to sell as the key stumbling blocks.
A number of housing projects are proposed for other sectors of the Reseda/Canoga Park redevelopment area, said Virata who has been assigned to this region for seven months now, and they’re focusing also on the commercial corridors.
“We’re not necessarily doing teardowns, but I think through a combination of fa
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