A sprawling retirement complex is coming to Warner Center. Spieker Senior Development Partners broke ground earlier this year on Wisteria at Warner Center, which includes 480 units and stretches across 17 acres just north of the 101 Freeway.
The housing complex at 5500 Canoga Ave. in Woodland Hills will include a medical office, independent-living units, assisted-living units and memory care units. Other amenities will include a movie theater, indoor pool, library and fitness center.
KTGY architect firm is designing the complex, which is expected to open by the end of 2025.
“Our clients are most concerned with convenience, proximity to entertainment shopping and services they value, including health care,” said Troy Bourne, managing partner at Spieker Senior Development Partners.
Bourne said residents will be in close proximity to their relatives, friends and former neighbors who remain in the San Fernando Valley.
The home prices will range from less than $500,000 to $1 million per unit, depending on the size, Bourne said.
In addition to the price of their new home, residents would be expected to fork out a monthly fee of several thousand dollars, according to Bourne. That would pay for housekeeping, long-term care and other services.
“Some people can actually save money when they move in because they’re not paying property taxes and utilities,” Bourne said.
He added that residents have “the protection of knowing that if they need long-term care down the road, which might be as much as $15,000 a month or more, they’re never exposed to those expenses because that was always included in the program when they moved into a community like Wisteria.”
The complex has a waitlist of more than 500 families who come from all over the Valley and Westside of Los Angeles, according to Bourne.
The project will be part of a dramatic transformation coming to Warner Center, where L.A. Rams owner Stan Kroenke recently acquired massive sites on which he plans to build practice fields and facilities, administrative offices and a community outreach office.
Bourne said the proximity to the Rams would make the senior housing complex highly attractive to future residents.
“We can certainly expect some great restaurants, some great shopping, as part of what they’re doing,” he said.