Billionaire developer Rick Caruso has finally revealed that the first restaurant to anchor his Pacific Palisades Village project, now one year from its grand opening, will be an outpost of Hollywood favorite Madeo. The eatery, a custom spinoff called FdeiM by Madeo, will take up a 4,000-square-foot space inside the highly-anticipated Village and likely attract A-list guests who have long championed the northern Italian fare served at the original restaurant.
Cornerstone restaurateurs are not the only thing turning heads in the soon-to-be Pacific Palisades community. Associate Partner Laura Brau of Partners Trust offered the Hollywood Reporter a real estate perspective; that, in anticipation of the restoration of a downtown, real estate properties adjacent to the project—known as the Alphabet Streets—have skyrocketed. Reiterating that walkability is still one of the most desirable amenities attracting Los Angeles home buyers, Laura adds, “Before, you could get an older home for $1.7 million. Now it is about $2.5 million. Being able to walk to town has become this huge bonus.”
Caruso also confirmed that joining FdeiM by Madeo will be three additional retailers: paleo-centric Sweet Laurel Bakery, Santa Barbara-based McConnell’s Ice Cream and Vintage Grocers. The news has certainly eased members of the Pacific Palisades community who put their faith in Caruso to reinvent a downtown that would serve as a central gathering spot rather than a tourist draw founded upon brand-name retailers.