Rams Village Woodland Hills: What This $10 Billion Development Means for West Valley Real Estate
- Leegie Parker
- 4 days ago
- 11 min read
Published on April 23, 2026 by Leegie Parker
Leegie Parker | Real Estate Advisor | DRE 01020534 | Compass | Leegie.com
Quick Answer Rams Village Woodland Hills is a $10 billion, 52-acre mixed-use development on the former Promenade Mall site, anchored by the new Los Angeles Rams headquarters. Woodland Hills is ground zero, and Tarzana, Encino, West Hills, Canoga Park, and Winnetka are all positioned for spillover demand, with the adjacent affordable pockets holding the biggest potential upside. |
Key Takeaways
• Rams Village at Warner Center is a $10 billion, 52-acre mixed-use development on the former Promenade Mall site in Woodland Hills, including the Rams headquarters, 3,000+ residences, two entertainment venues, nearly 2 million square feet of retail and office, and almost 10 acres of public open space. • Demolition of the Promenade Mall began in January 2026. Construction on permanent buildings is targeted for 2027, with full build-out over roughly a decade through 2037. • Woodland Hills real estate will feel the most direct impact, but Tarzana, Encino, West Hills, Canoga Park, and Winnetka are all positioned for spillover demand. • Canoga Park and Winnetka have the biggest potential upside because they offer the most affordable entry points adjacent to the project. Current Woodland Hills median price is around $1.1 million with a balanced 5 to 6 month supply, which gives buyers a window before the full Rams Village effect hits pricing. | |
The Promenade Mall Era Is Over. Something Much Bigger Is Coming.
My son Wyatt and I used to see movies at the Promenade with his friends. The food court runs, the late matinees, dinner at Maggiano’s or PF Changs, it was part of the rhythm of raising a kid in Tarzana. For a lot of Valley families, the Promenade was the default weekend destination for years, and then slowly it wasn’t. The mall sat half-empty, the theaters closed, and the whole property became a 34-acre question mark in the middle of Woodland Hills.
That question now has an answer. In April 2025, Rams owner Stan Kroenke and his organization announced Rams Village at Warner Center, a $10 billion mixed-use development on the former Promenade site and the adjacent 31-acre Anthem office parcel. Demolition began in January 2026. Over the next decade, 52 acres of Woodland Hills will transform into the Rams’ permanent headquarters and training facility, more than 3,000 homes, two indoor entertainment venues, a retail village, nearly 2 million square feet of commercial space, and almost 10 acres of public open space.
Here is the short version for anyone trying to figure out what this means for their real estate picture. Rams Village Woodland Hills is the most significant development to hit the West Valley in a generation, and it is going to exert upward pressure on values in Woodland Hills first, then Tarzana, Encino, West Hills, Canoga Park, and Winnetka. The biggest percentage upside sits in the more affordable adjacent pockets. The window of today’s pricing has a shelf life tied to the visible progress of construction, which is underway right now.
If you live in, own in, or are thinking about buying in the West Valley, this matters. And it matters in different ways depending on which pocket you’re looking at. Here’s what I’m watching as a Valley-based real estate advisor, what the data currently shows for Woodland Hills, and how I’m advising clients who are weighing their timing right now.
What’s Being Built at Rams Village
This is not a stadium. The Rams play at SoFi in Inglewood and that isn’t changing. Rams Village is a mixed-use district, modeled loosely on the principles Kroenke used at Hollywood Park in Inglewood but scaled for the Valley and designed for a different kind of neighborhood.
Here’s the breakdown, based on the plans Kroenke and architect Gensler have publicly filed:
The Rams Anchor
• More than 350,000 square feet of team headquarters and training facilities
• Two existing grass practice fields retained, plus a new 150,000 square foot indoor practice field with seating for up to 2,500
• The permanent Rams headquarters is planned for completion in the first phase of construction
Residential
• More than 3,000 housing units, a mix of high-rise, mid-rise, and live-work
• Over 3 million square feet dedicated to residential
• Includes both market-rate and affordable units
Entertainment and Commercial
• One 5,000-seat indoor venue and one 2,500-seat venue, programmed for concerts, comedians, conventions, and award shows
• Nearly 2 million square feet of retail, office, and a hotel
• The 13-story former Anthem building is being retained and repurposed as office space
Public Space and Sustainability
• 4.3 acres of Publicly Accessible Open Space, which exceeds the 3.9 acres required under the Warner Center 2035 Plan
• An additional 5.5 acres of open space beyond that, totaling almost 10 acres, roughly 19% of the site
• Central Park, Retail Village, Civic Plaza, child-friendly play areas, dog relief stations, and a 7,000 square foot indoor community space
• LEED-equivalent certification across the entire Village, with solar generation and stormwater reuse built in
One detail I love and that doesn’t get enough attention: Rams Village sits directly on the bike path and the Orange Line Bus route that runs through the Valley into Woodland Hills. You can get there without getting in a car. For a region that has historically been built around parking lots and freeways, that’s a meaningful shift in how the Valley will function day to day.
The Timeline: When Does and Did Rams Village Happen?
This is a decade-long build-out, not a ribbon-cutting. Here’s the rough sequence, which is important context for anyone making buying or selling decisions right now:
• November 2023: Construction began on temporary practice fields
• August 2024: The Rams’ temporary training facility opened and is in use during construction
• April 2025: Kroenke publicly announced the full Rams Village plan
• January 2026: Demolition of the Promenade Mall began, currently underway
• 2027: Target date for construction to begin on permanent buildings, starting with the Rams headquarters
• Approximately 2037: Full build-out in phases over roughly 10 years
What that means practically: the Rams headquarters and early phases are and will continue to be visible over the next few years. The full transformation, including most of the residential and retail, will roll out over the balance of the decade. The real estate market almost never waits for the ribbon cutting. Pricing starts to move the moment buyers believe the project is real, and with demolition underway, we’re past that threshold.
The Current Woodland Hills Market: Where Prices Sit Right Now
Before we talk about what Rams Village could do to values, here’s where the Woodland Hills market stands in early 2026.
According to Redfin’s Woodland Hills market data from January 2026, the median home price is $1.1 million, down about 8% year over year, with a median of 70 days on market. Houzeo’s data shows the median closer to $1,195,000 and essentially flat year over year, with roughly a 5 to 6 month supply of inventory, which technically puts Woodland Hills in balanced market territory.
Within that overall number, price per square foot varies dramatically by micro-location:
• Median price per square foot across Woodland Hills: around $573
• Newer construction south of Ventura Boulevard: $650 to $750 per square foot
• Dated ranch homes in established pockets: $425 to $525 per square foot
• Hillside view properties: $700 to $900+ per square foot
• Woodlake Estates: $1.3 million to $2.4 million
• Hidden Hills-adjacent estates: $2.2 million to $5.5 million and up
The short version: Woodland Hills is currently a market where buyers have time to think. Days on market are up slightly, prices have softened a little, and inventory is healthy. That’s the window I’m flagging for clients who’ve been waiting to make a move.
How Rams Village Will Ripple Across West Valley Neighborhoods
This is where the post gets useful depending on where you’re looking. I see five pockets with meaningfully different exposure to what’s coming.
Woodland Hills: Ground Zero
The most direct impact will be on homes and condos within walking and short-driving distance of Warner Center, especially newer buildings on Owensmouth, Variel, and Canoga. If you own one of these properties, your value story over the next ten years is tied to Rams Village more than almost anything else in the local market.
The buyers who will pay a premium here are people who specifically want to be in a walkable urban core inside the Valley. That’s a new buyer category for Woodland Hills. Historically, that buyer went to Santa Monica, Culver City, or Downtown. Now they have a Valley option, and that’s what drives new pricing ceilings.
Tarzana: The Quiet Beneficiary
I live here, I’ve lived here for over 30 years, and I want to name that up front. Tarzana is one of the biggest winners in this story and I don’t think the market has priced that in yet.
Here’s why: Tarzana is a short drive west of Warner Center, but it keeps its residential character. You get a major new lifestyle amenity on your doorstep without your actual neighborhood changing. That’s exactly the combination buyers pay for. The families I work with who are looking at Tarzana want exactly that trade-off, quiet streets, mature trees, good everyday neighborhood feel, and now a nine acre public space and entertainment district ten minutes away.
Read more about what makes Tarzana special.
Encino: Similar Story
Encino’s dynamic looks a lot like Tarzana’s. Established, desirable, quiet-leaning, with easy access to Warner Center. Encino buyers tend to be slightly more west-to-east oriented, closer to the 405 and Westside commutes, but the underlying real estate logic is the same. More amenities nearby, no change to neighborhood character, steady demand getting a small boost.
West Hills: Historically Underpriced, About to Look Obvious
West Hills has historically traded at a discount to Woodland Hills for buyers who wanted larger lots and quieter streets. With Rams Village becoming the new anchor of the area, West Hills starts to look like the smart move for anyone who wants the amenity access without paying the Warner Center premium. This is a pocket I’d watch closely over the next three to five years.
Canoga Park and Winnetka: The Biggest Potential Upside
Here’s where I want to be most direct. Canoga Park and Winnetka currently offer the most affordable entry points adjacent to Rams Village. Historically, these areas have been underpriced relative to their proximity to Warner Center. That gap has existed because Warner Center itself wasn’t a destination. That’s changing.
If I’m thinking like a buyer with a 5-to-10-year horizon, Canoga Park and Winnetka are the pockets where today’s pricing and tomorrow’s amenity access diverge the most. That’s usually where appreciation lives.
The Concerns Worth Naming
A post like this is easy to write as pure cheerleading. I don’t find that useful. Here are the real issues worth acknowledging as a homeowner, buyer, or long-time Valley resident.
Traffic on Topanga
Topanga Canyon Boulevard is already one of the more congested corridors in the West Valley during peak hours. Add 7,500 combined venue seats and more than 3,000 new residences and you are adding meaningful daily and event-driven traffic. The Warner Center 2035 Plan was designed to be transit and pedestrian oriented, which helps. Infrastructure upgrades will follow. But for the next decade, the trade-off is real.
Displacement Pressure
When Hollywood Park and SoFi came to Inglewood, some long-time residents were priced out. Inglewood was a different starting point from Woodland Hills, but the dynamic could still affect the more affordable West Valley pockets, particularly Canoga Park and Winnetka. Rising values are good news for owners and harder news for renters and first-time buyers. Both things can be true.
A Decade of Construction
This is a 10-year build. If you’re buying a home within a few blocks of the site, you are signing up for years of active construction noise, dust, street work, and truck traffic. That’s a real lifestyle cost for the period you’re in the home. It’s also usually priced into the acquisition cost, which is part of why buying during construction can be advantageous on the right property.
My Read for Buyers and Sellers Right Now
If You’re Thinking of Buying in the West Valley
The strongest case for acting sooner rather than later is in the more affordable adjacent pockets, specifically Canoga Park, Winnetka, and parts of West Hills. Prices in Woodland Hills itself are currently in a buyer-friendly window with a balanced market and slightly softer year-over-year numbers. Both conditions have a shelf life tied to the visible progress of Rams Village. Once the Rams headquarters and first phases go vertical in 2027 and 2028, I expect the market’s perception of this whole area to shift.
If You Currently Own in Woodland Hills or Adjacent Areas
You don’t need to do anything. Sit tight. The long-term thesis is favorable for your equity. If you were considering selling anyway, there’s no urgency either direction. If you’re considering remodeling, the argument for doing it now and holding the asset is pretty strong.
If You’re Considering Investment Property
The adjacent affordable pockets are the story. The math that usually drives investment returns in situations like this is buying slightly below the anchor and letting the anchor’s appreciation pull you along. That pattern applies cleanly to West Valley pockets right now.
The one consistent principle: I never gamble with your money and equity. That applies to timing decisions as much as anything. If any of the above resonates, the right next step is a specific conversation about your situation, your timeline, and your numbers. Not a blanket recommendation.
Frequently Asked Questions
Where is Rams Village at Warner Center being built?
Rams Village is being built on the former Promenade Mall site and the adjacent former Anthem office building property in Woodland Hills, California. The combined parcel totals 52 acres, bordered by Topanga Canyon Boulevard, Erwin Street, Owensmouth Avenue, and Oxnard Street in the Warner Center district.
When will Rams Village be completed?
The Promenade Mall demolition began in January 2026. Construction on permanent buildings is targeted to begin in 2027, starting with the Rams headquarters in the first phase. Full build-out will happen in phases over approximately 10 years, with completion targeted for around 2037.
How will Rams Village affect Woodland Hills home prices?
Woodland Hills home prices are currently around $1.1 million median with a balanced 5 to 6 month supply of inventory. Most Valley real estate observers expect Rams Village to exert upward pressure on values in Woodland Hills and adjacent neighborhoods, particularly as visible construction progresses in 2027 and 2028. The more affordable adjacent pockets, especially Canoga Park and Winnetka, are positioned for the largest percentage gains given their current pricing relative to proximity.
Which neighborhoods will benefit most from Rams Village?
Woodland Hills will see the most direct impact. Tarzana, Encino, and West Hills will likely benefit from spillover demand while keeping their existing character. Canoga Park and Winnetka have the biggest potential upside in percentage terms because they offer the most affordable entry points adjacent to the development.
Will the Los Angeles Rams play games at Rams Village?
No. Rams Village is the team’s headquarters, training facility, and a broader mixed-use district. The Rams will continue to play home games at SoFi Stadium in Inglewood. Rams Village focuses on team operations, residential housing, retail, office, hotel, and two mid-sized indoor entertainment venues for concerts, conventions, and events.
If You’re Thinking About the West Valley
One of my favorite things about this project is how outdoor and open-air and walkable the whole plan is. Having a hub like this with this kind of amenity mix so close to the rest of the Valley is something the West Valley has genuinely needed for a long time. The fact that it sits right on the Valley bike path and the Orange Line, accessible without getting in a car, is the kind of detail that changes how people live here.
If you’ve been thinking about buying in the West Valley, I’d encourage you to have the conversation sooner rather than later. Some of the neighborhoods that are genuinely affordable today are likely to see real price movement once Rams Village starts going vertical. That doesn’t mean you need to rush. It means you want a real plan, on your timeline, with specific numbers for your situation.
Call or text me at 310-739-9202, or email Leegie@Leegie.com. I’ll give you a thoughtful, grounded take on where you stand and what’s smart for you. No pressure, no pitch, just a real conversation about the West Valley, what I’m watching, and how it fits your picture.
Leegie Parker
Real Estate Advisor, Compass
DRE 01020534
310-739-9202 | Leegie@Leegie.com | Leegie.com