According to the Los Angeles Daily News, demolition is now underway at the 61-year-old Rocketdyne Propulsion & Power Plant at Victory Boulevard and Canoga Avenue in Warner Center.

The approximately 46-acre property, vacant for the last several years, is being converted by owner United Technologies Corp. into what has been described as a $3-billion "sustainable urban neighborhood."  The project, which is being developed in partnership with Boston Global Investors (BGI), will feature a series of high-rise and mid-rise buildings offering residential units and office space above ground-floor shops and restaurants.

A project page from the BGI website indicates that the Rocketdyne redevelopment would include:

  • 3.95 million square feet of residences
  • 240,000 square feet of assisted living facilities
  • 1.2 million square feet of office space
  • 200,000 square feet of retail space
  • 155,000 square feet of hotels
  • 310,000 square feet of cultural and civic amenities
  • A five-acre central park
  • 10,030 parking spaces

Other firms involved with the project include architecture firm HOK and the engineering firm Arup.

Construction of the Rocketdyne development would occur over approximately 10-12 years, although an exact start date has not been specified.