Story perspectives

Caruso Reopens Palisades Village After $100M Renovations

8/15/2026

Summary

Story summary

Rick Caruso reopened Palisades Village in Pacific Palisades on August 15, 2026 after $100 million renovations repaired fire damage.
Caruso said 99% of the retail spaces are leased, with about one-third new tenants.
The crew stripped interiors to studs, tested wood and rebuilt after confirming they were toxin-free.
70% of stores opened at 11 a.m. after a 10:30 a.m. ribbon-cutting, featuring tenants such as Erewhon, Blue Ribbon Sushi and Loomey’s Toys and entrant Spacca Tutto.

History

Historical Context

Saks Fifth Avenue’s New York flagship, which generated about 20% of the chain’s $620 million sales in 2013, began a $250 million three-year renovation in 2015 under Hudson’s Bay Company ownership. After HBC’s 2024-2025 merger with Neiman Marcus and a 2026 restructuring that cut the network to 13 stores, the flagship’s recent upgrades illustrate the brand’s reliance on large-scale capital projects to sustain its historic retail presence.

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Story summary

Rick Caruso reopened Palisades Village in Pacific Palisades on August 15, 2026 after $100 million renovations repaired fire damage.
Caruso said 99% of the retail spaces are leased, with about one-third new tenants.
The crew stripped interiors to studs, tested wood and rebuilt after confirming they were toxin-free.
70% of stores opened at 11 a.m. after a 10:30 a.m. ribbon-cutting, featuring tenants such as Erewhon, Blue Ribbon Sushi and Loomey’s Toys and entrant Spacca Tutto.

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