CEO of Public Storage Ronald L. Havner Jr. and the site in North Hollywood (Credit: Google Maps)
Public Storage is hoping to redevelop its facility in North Hollywood to nearly quadruple the overall size.
The Los Angeles City Planning Commission next week will consider the plan for a three-story warehouse facility for self-storage. It would include 160,277 square feet of space at 10810 W. Vanowen Street in the San Fernando Valley near Bob Hope Airport.
The project would require the demolition of the existing single-story storage facility that spans 42,380 square feet. The staff report for the planning commission review recommends approving a zone change, a height increase and expanded floor area for the project site.
The Glendale-based company was co-founded by B. Wayne Hughes Sr. in 1972, and the firm now has hundreds of facilities in Los Angeles.
Self-storage has seen increasing interest throughout the country lately, with a tight supply in Los Angeles. In June, Barker Pacific Group acquired a 334,96-square-foot self-storage portfolio in the Inland Empire. And early this year, World Class Capital Group secured a $29.6-million loan to build a 188,600-square-foot self-storage facility in Downtown Los Angeles.