Caruso Confirms Plans to Reopen Development in 2026
By SARAH SHMERLING | Editor-in-Chief
Luxury retailer Elyse Walker announced plans to build a flagship store in Palisades Village, which Caruso confirmed will reopen in 2026, during a press conference on Wednesday, May 28.
Walker lost her Antioch Street storefront in the Palisades fire, which recently celebrated its 25th anniversary.
“I opened the first elysewalker location in the Pacific Palisades because I saw the huge opportunity to bring fashion retail to the area,” Walker described. “I knew that I wanted a store to feel like a home base within the community. More than a store, it was where friends and family got together to connect, celebrate and of course, shop. elysewalker Pacific Palisades epitomized that.”
Walker wrote that announcing the reopening of the space in Palisades Village was a moment “filled with joy and anticipation,” but also “a deep sense of reflection.”
“Just five months ago, our beloved Palisades community faced unimaginable loss—and with it, we lost our flagship store, our second home, and the heart of our brand,” Walker said. “That store had just celebrated its 25th anniversary—a milestone made possible only by the love and loyalty of this community. Through it all, I’ve held onto my belief in the strength and spirit of the Palisades. I knew that, in time, we would begin to heal and rebuild—together. Today is that first step.”
Caruso Founder and Executive Chairman Rick Caruso and Caruso CEO Corinne Verdery also spoke during the press conference.
“When a retailer chooses to invest here, it is a powerful voice of confidence in a bright future,” Caruso said. “Both Elyse and I have a shared determination to bring back the Palisades better and stronger, ensuring this community remains a place where families flourish, businesses succeed and neighborhoods thrive.”
Walker is moving to a space at Swarthmore Avenue and Sunset Boulevard, which was previously occupied by Saint Laurent and, prior to that, Amazon Books.
Caruso and Walker have worked together previously: towne by elysewalker has been at Palisades Village since the development opened, and there is an elysewalker location at The Commons at Calabasas, which is also owned by Caruso.
She also has storefronts in Southhampton, St. Helena, Tribeca, Upper East Side and Newport Beach. Each location offers a “highly curated perspective,” combining “heritage brands with new and emerging designers.”
“Re-opening in the Palisades and moving to the Village is incredibly exciting and important as we focus our efforts on rebuilding and supporting this incredibly strong and resilient community,” Walker said. “We fully intend to recreate the elysewalker experience at the Village and cannot wait to be back in our beloved Palisades community.”
The target date to reopen the development is “early to mid-next year.”
“Today’s announcement reinforces our long-term commitment to the Palisades,” Verdery said on May 28. “Our goal is to restore Palisades Village and the surrounding area as a vibrant and welcoming destination once again for residents, workers and visitors—a place that reflects our community’s resilience and optimism for the future.”
In addition to the new flagship store, Caruso reported a “fresh new dining experience” would be announced soon, as well as the return of “beloved holiday traditions later this year”—“even as recovery and reconstruction efforts continue.” Since it opened in 2018, Palisades Village has been host to Hanukkah menorah and Christmas tree lighting ceremonies, both in The Park and on Swarthmore Avenue.
“This announcement marks not just the beginning of reconstruction but the rebirth of Pacific Palisades,” Caruso said. “Accelerated work is already underway on restoring public spaces, including The Park, with a commitment to bringing people back together.”
The development remained largely undamaged by the fire, aided by private firefighters, water tenders that were brought in and fire-resistant material used to build it. Caruso told ABC7’s Josh Haskell during an on-site interview on April 1 that they protected their property and “freed up LA fire resources to go protect other properties.” He also said they loaned equipment to first responders when needed.
“We’re very much a part of the community,” Caruso said to Haskell. “It was the smart decision to do.”
On the CAL FIRE Palisades Fire Damage Inspection Status map, the inspections of Palisades Village’s 40-plus units were broken up into nine sections: three of which sustained “no damage.” Five were listed as “affected,” meaning they were damaged 1-9%, while one received “minor” damage (10-25%).
Caruso also reported the company will fund the “revitalization of the streetscapes” around the development, including sidewalks and landscapes, to “ensure the area is safe and welcoming for all.”
“Through Steadfast LA, private funding is being raised to revitalize other public spaces that are central to the community, including the rebuilding of the Palisades Recreation Center, aimed at reviving the heart of the community, creating a vibrant space for families to gather,” read a statement about the work. “In Altadena, Steadfast LA is working with Disney to reimagine parks and streetscape areas, using both private funding and Caruso capital.”
