(March 10, 2011) — The Americana at Brand is ready to expand its 15.5 acres after acquiring the Golden Key Hotel. The developer of the Americana, Rick Caruso, negotiated a deal with the hotel owner, Ray Patel, for an undisclosed amount on Feb. 24. After three months of trying to close the deal, according to the Glendale News-Press, Caruso intends to spend about $40 million to add 135,000 square feet of retail space, widen Colorado St. and create a new walkway into the mall. Some students are excited to see the addition to the Americana because it means new stores and more shopping. Junior Christina Yeghnazarian said she thinks the expansion is a good idea because she felt the hotel was not in a good location and was just taking up space. Yeghnazarian also said she can’t wait to see which stores will move in after the expansion is complete. Although the Americana is one of the most popular places for students, not everyone is excited about the expansion, such as juniors Pateel Keledjian and Nairi Dulgarian. Keledjian doesn’t enjoy going to the Americana anymore. “In the beginning it was fun, but now it’s just overrated,” said Keledjian. Dulgarian feels the expansion will just create more traffic in an already crowded area. The resolution comes after a three month long fight over the hotel. Caruso already bought a vacant building next door in January and was just waiting for the hotel. According to the Glendale News-Press, Glendale city officials recommended that Caruso buy out the hotel and expand the Americana instead of Patel renovating his hotel. Although the details of the deal were not disclosed, the original settlement, which Patel declined, would have given Patel $6 million for his hotel although it was appraised for just $4.9 million. According to Patel, the 55-room hotel is valued between $15-$17 million. The first step in the long construction process should take place once the plans have been finalized. In the meantime thousands of visitors will continue to shop and dine at the Americana.
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Americana at Brand plans to expand after acquisition
March 10, 2011