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LOS ANGELES-The Los Angeles City Council’s planning and land use committee has unanimously approved the Village at Playa Vista plan, setting the stage for the plan to go to the full council on Sept. 22.

The Village, which is the second phase for Playa Vista, will bring 2,600 new homes and a neighborhood retail center that will include restaurants, a grocery store, bank branch and other uses. The new development will connect the homes now under construction on Playa Vista’s west side with the campus area on the eastern end of the property.

The planning and land use management committee’s approval follows previous approval by the Los Angeles City Planning Commission. Steve Soboroff, president of Playa Vista, notes that the Village plan includes parks and open space in addition to the housing and retail components, leaving 70% of the original land area is open space.

The Playa Vista project and the areas surrounding it already include residential and commercial development that has generated some of the largest transactions on the Los Angeles Westside in recent years. For example, publicly held Electronic Arts, one of the world’s biggest video game designers, signed a deal estimated at $100 million to move into the entire 250,000 sf of class A office space at the Water’s Edge campus within the 1,087-acre Playa Vista development.

Other major deals within or near the project have included SSR Realty Advisors Inc.’s acquisition of the 102-unit Alexan Fontaine apartments for nearly $28 million and Essex Property Trust’s $124.5-million purchase of the 705-unit Fountain Park Apartments, which opened in 2002 and was the first project completed in Playa Vista as well as one of the largest apartment transaction in Los Angeles County history.

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