The Valencia Town Center Is a Shell of Its Former Self

Paradis Ice Cream and MAC Cosmetics have been cornerstones of the Westfield Valencia Patios for years. So many businesses have recently closed at the Town Center that it might be better reporting to tell you what is still open.

Westfield announced they're canceling their Westfield Valencia expansion in 2021 and shortly after talks that Unibail-Rodamco-Westfield will start selling its significant U.S. properties by 2022. It was recently reported that Unibail-Rodamco-Westfield defaulted on their $195 million loan and attributed the Valencia Town Center as the “largest contributor to losses” of all the properties attached to the loan. URW sold two malls in Woodland Hills to L.A. Rams owner Stan Kroenke for $475 million and the Westfield Santa Anita shopping center to Monrovia-based investor Wen Shan Chang for $538 million, among other properties across the US.

What is next for the Valencia Town Center? The City of Santa Clarita proposed the space be used for mixed-use development opportunities, but it remains unclear what Westfield will decide what to do with the property. Perhaps the mall will get its renaissance through new owners and mixed-use developments with the city, but these plans take years of urban planning and hundreds of millions of dollars, so... who knows.