Developer Rick Caruso confirmed Wednesday that Palisades Village will reopen in early to mid-2026, with luxury retailer Elyse Walker slated to return as the flagship tenant. The announcement was made during a press conference at the construction site, where Caruso and his team outlined plans to rebuild the fire-damaged commercial hub and restore it as a central gathering place for the community.
Walker, whose original boutique on Antioch Street was destroyed in the January wildfires, will relocate to a 5,000-square-foot space at the entrance to the Village on Sunset Boulevard and Swarthmore Avenue. The reimagined store will continue the brand’s focus on curated designer fashion and personalized styling, while also serving as what Walker called a community “home base.”
“Just five months ago, we watched our beloved community experience incredible loss,” said Walker, standing beside Caruso. “But I have always believed in the Palisades. Today marks the beginning of our rebuilding efforts. We fully intend to recreate the elysewalker experience and look forward to reopening our doors and reuniting with this resilient community.”
Caruso, who developed the original Palisades Village and has been a central figure in private-sector rebuilding initiatives, said the reopening represents more than commercial renewal.
“This is not only about bringing back a shopping center. This is about accelerating recovery,” Caruso told attendees. “People need spaces where they can congregate, shop, dine and connect with each other. Those common areas are what help restore a community’s spirit. I believe you have to have an economic engine and that’s what we are building.”
Caruso said his firm will reconstruct the public park inside the Village, bring back the annual holiday tree lighting and Menorah celebration, and fund extensive improvements to the surrounding streetscape, including sidewalks, trees and lighting. He emphasized that the upgrades will be privately funded and not rely on city money.
In addition to the flagship retail comeback, a new restaurant concept is expected to be announced later this year. The developer declined to offer details but hinted that it would be designed to generate excitement by the holiday season.
Wednesday’s announcement also underscored Walker’s long ties to the neighborhood. She opened her first store in the Palisades in 1999 after moving from New York, raising her family nearby and growing her business from a modest 900-square-foot space into a nationally recognized retail brand. The store had just marked its 25th anniversary before it was lost in the fires.
“I chose the original location because it was one block from my children’s school,” Walker said. “Friends gathered every day at three o’clock when the kids got out. We created a hub way more powerful than any fashion or clothing. Clients became friends and then they became family.”
Caruso credited Walker’s decision to return as a turning point. “When a retailer chooses to invest here, it is a powerful voice of confidence in a bright future,” he said. “Elyse and I share a determination to bring back the Palisades better and stronger.”
The event also included remarks from Corinne Verdery, Caruso’s CEO, who framed the day as a milestone in the post-fire recovery. “We are kicking off our restoration and accelerating our progress,” Verdery said. “Our goal is simple, to bring families back, small businesses, jobs and spark economic revival.”
Also in attendance was actor Ted McGinley, who holds the informal title of honorary mayor of the Palisades alongside his wife, Gigi. Speaking as a longtime resident, McGinley said the community is eager for the return of its central village.
“We’re not going anywhere,” he told the crowd. “We can’t wait for it to be rebuilt and reimagined. And if you need help, my wife and I are glad to do so.”
Caruso’s comments extended beyond the Palisades. He said similar revitalization strategies are underway in Altadena, where his team is working with Disney to reimagine public spaces. Through his Steadfast LA initiative, he is also helping fund improvements to the Palisades Recreation Center and other civic spaces.
The billionaire developer, who ran unsuccessfully for mayor of Los Angeles in 2022, sidestepped questions from reporters about a possible second campaign. “I’m not going to make a decision on politics until well after the summer,” he said. With regards to Palisades Village, Caruso’s message was clear, rebuilding is not only happening, it is being fast-tracked. “This community is not coming back,” he said. “It’s going to be roaring back.”