Caruso Wins
Dec 1, 2005 12:00 PM
Rick Caruso, CEO of Caruso Affiliated, has won his long battle against General Growth Properties to build the Americana at Brand in Glendale, Calif. Construction is expected to start before year-end.
The California Court of Appeals ruled against General Growth, which had challenged the Environmental Impact Report of the open-air center and mixed-use project across from GGP's Glendale Galleria mall
“This decision, coupled with the series of losses by General Growth in its challenges to our project, should send a clear … message to Westfield [which is challenging Caruso's Arcardia, Calif., development] and other large retail REITs that you cannot stop fair competition,” said Caruso.
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