Champion Plans Phase II of $90M Mixed-Use Project

(To read more on the multifamily market, click here.)

BURBANK, CA-The Champion Development Group of Los Angeles plans 118 condominiums, 40,000 sf of retail space with restaurants and a 731-space parking garage at the Burbank Collection, the second phase of the $90 million Burbank Entertainment Village. The L.A. developer recently closed escrow on a two-acre parcel in downtown Burbank that will be the development site and expects to begin construction immediately.Company president Robert Champion notes that, upon completion of the garage, the company will turn over 272 spaces of the garage to the City of Burbank for additional public parking in the downtown area. Situated on a full city block bounded by Magnolia Boulevard, San Fernando Boulevard, Orange Grove Avenue and First Street, the Burbank Collection will represent “a pivotal piece” in the city’s efforts to create a 24-hour environment in its urban core.The first phase of the Burbank Entertainment Village was developed by Kansas City, MO-based AMC Entertainment Inc. and completed in July 2003. It is anchored by a 16-screen AMC Megaplex. Macaroni Grill, Chipotle Mexican Grill and Coldstone Creamery are among the tenants that occupy the 30,000 sf of retail and restaurant space in phase one.The Burbank Entertainment Village lies within the city Redevelopment Agency’s City Centre Redevelopment Project. Champion says that the Burbank Collection was designed to add a housing option for the many young professionals working in Burbank, especially those in the entertainment industry. Ground floor retail shops will occupy a streetscape along the Palm Plaza, a pedestrian spine that runs between the two phases from San Fernando Boulevard to First Street.A variety of paths and walks will connect Palm Plaza to structured parking, buildings, streets and public spaces. The condominiums, including 60 luxury lofts, will be developed above the individualized store fronts in four levels. The project, being designed by Perkowitz + Ruth, is expected to be completed in spring 2008.