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MalnPlace Mall <br />Net Fiscal Impact and Economic Analysis <br />December 2e18 <br />Page 19 of 33 <br />In late 2016, Westfield submitted a proposal to demolish the existing Westfield Promenade in <br />Woodland Hills and reposition the 34-acre site Into a mixed -use project. Replacing the existing <br />641 thousand square feet of retail space, the project would bring approximately 244,000 SF of <br />retail, 629,000 SF of office space, two hotels with a total of 572 rooms, as well as 1,432 <br />residential units (see Exhibit 3.2.6). <br />Uniquely, the project also includes a 15,000-seat Entertainment and Sports center to <br />accompany approximately 7 acres of open space. If approved by the Los Angeles City Council, <br />the project is not expected to be completed until 2033. <br />Exhibit 3.3.6: Westfield Promenade Project Summary <br />Use Existin GFA. SF NewGFA SE <br />Retail <br />641,000 <br />244,000 <br />Residential <br />- <br />1,609,000 <br />Office <br />629,000 <br />Hotel <br />- <br />469,000 <br />Entertainment <br />320,000 <br />Total <br />641,000 <br />3,271,000' <br />Source: Westfield Promenade Proposed Project Description, 2016. <br />The analyses, projections, assumptions, and any examples presented herein are for <br />kos 1 a, illustrative purposes and are not a guarantee of actual and/or future results. Tax analyses <br />are projections only. Actual results may differ from those expressed In this analysis. <br />75D-554 <br />