By A.J. Hazarabedian
Developer Rick Caruso is closing in on the remaining properties he desires to expand the Americana at Brand. The Glendale News Press announced today that Henry David, owner of the vacant brick building at the edge of the mall, agreed to sell his 7,500 square foot property to the developer.
Caruso, who also developed The Grove, plans to expand his newest development in Glendale and has the support of the City’s Redevelopment Agency. In December, the Agency gave Henry David and the owner of the Golden Key Motel, Ray Patel, two choices: negotiate with Caruso on a sale price, or submit a proposal to develop the property. If neither choice is made by January 27, 2011, the Agency has threatened to use eminent domain. Now that Henry David has agreed to sell his property, the focus has moved to Mr. Patel.
Today’s Glendale News Press, “Caruso buys vacant building next to Americana,” quotes Caruso who thanks Henry David “for his professionalism and cooperation through this process” and says he “hope[s] to enter into a constructive dialogue with Mr. Patel to complete [the] acquisition plan in the very near future.”
Previous news article have indicated that Ray Patel has been offered $6 million by Caruso to purchase the Golden Key Motel. Thus far, no agreement has been reached.
January 27th is right around the corner. Stay tuned.