City advances Downtown Thousand Oaks concept; council authorizes talks on Hillcrest disposition and funding options

Thousand Oaks — The City Council on Tuesday reviewed a revised concept for the Downtown Thousand Oaks redevelopment centered on the Civic Arts Plaza and provided staff direction to continue design and funding work, including potential disposition talks with the Conejo Recreation and Park District (CRPD) over 401–403 Hillcrest.

Why it matters: The project would be the city’s largest downtown redevelopment in decades and is intended to activate the Civic Arts Plaza as a cultural and commercial hub, catalyzing broader reinvestment along Thousand Oaks Boulevard.

What staff presented

Deputy City Manager Akbar Alikhan and Community and Cultural Services Director Jonathan Sarat reviewed refinements to a concept the council first saw in 2024. Key changes presented include: adding a hospitality pad (hotel) at the Dallas Drive/Main Street corner instead of a new standalone city hall; repositioning the public market indoors to a larger, serviceable space; creating a town-square-style plaza and an amphitheater; consolidating public-facing city services in a reconfigured civic building; and relocating a portion of an underground stormwater box culvert to allow more efficient building footprints and underground parking.

The team also reviewed programming ideas: a multiuse event venue, arts and business incubator spaces, a library outpost concept, a food hall/market, and terraces tied to the Kavli and Shear Forum theaters. Jonathan Sarat said the terrace and new ground-level activation would provide space for concessions, pre- and post-performance gatherings and smaller community events.

Financing and viability

Amitabh Barthakur of HR&A Advisors presented funding options and a high-level analysis of revenue sources. Barthakur said the city holds roughly $45 million in cash and that disposition of certain city-owned parcels could add another $25–30 million. He described additional possible sources including naming rights, competitive grants, capitalized value from rents and parking, and new tax increment mechanisms such as enhanced infrastructure financing districts. Barthakur said those sources combined could yield a preliminary funding range in the tens of millions but stressed timing and the need to align phasing and funding.

Council and public input

Council members praised the depth of work but asked for clarity on housing counts, unit mix, parking, accessibility and how the library concept would be structured. Several council members said residential units were key to downtown activation and asked staff to show the housing mix and affordability strategy in follow-up materials.

Speakers from the arts and business communities strongly supported the concept. Representatives of Toe Arts and local cultural groups emphasized that the project should strengthen the theaters’ infrastructure and create adjacent food, beverage and gathering places to extend audience time in the downtown. The Greater Conejo Valley Chamber of Commerce supported the hotel and the market-square orientation, saying it would promote visitor spending and local businesses.

Council action and next steps

Councilmember Mayor Pro Tem Patone Taylor moved to receive the report, authorize staff to proceed with next steps and to explore terms of disposition for 401–403 Hillcrest with the Conejo Recreation and Park District. Council voted 5-0 to approve the staff recommendations.

Staff said the next formal milestones include returning June 24 with refined visuals and a funding-phasing strategy and preparing an initial entitlement package for a July submittal. The city also plans targeted one-on-one briefings with council members before the next workshop.

Ending

Council members and staff described the project as ambitious and long term; they asked staff to maintain a focus on economic viability, accessibility and affordable housing elements as the plan advances.