Developer Will Reveal Vision for Palisades Village at Community Meeting
Rick Caruso, founder and CEO of Caruso Affiliated, announced Tuesday, Nov. 25 that he has closed escrow on his purchase of the Palisades Village property and is expected to close escrow on the Mobil gas station in mid-2016.
With the escrow closed on the Village, Caruso will immediately begin environmental remediation of the site.
Photo Jared Morgan
The process will take about six months and will begin after select buildings, such as the former site of Carly K and one adjacent structure on each side, have been demolished.
“We’re very pleased to have finalized the clean-up plan for the property, which allows us not only to take ownership, but to decisively move forward with the clean-up process which will be a benefit for the entire neighborhood,” stated Caruso.
“We are excited to move full-speed ahead with our plans for the next chapter of Swarthmore Avenue. The community has been very generous sharing their views with us about their wishes for Palisades Village. We look forward to sharing our plans with the Palisades community, which truly reflect the local residents’ wishes,” he added.
Caruso said his plans and vision for the next chapter of Palisades Village will be announced at a community meeting set for next week.
Rich Schmitt/Staff Photographer
The presentation will be held on Thursday, Dec. 4 at 6:30 p.m. at Palisades Charter High School’s Mercer Hall.
“Over the last year, you were generous in sharing your ideas with us, and we have done our best to incorporate them into our plans,” read a statement from Caruso Affiliated.
“We are excited to show you how hard we’ve been working to shape the next chapter for Swarthmore Avenue.”
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