The most expensive listing in Calabasas is a $32 million mansion in the Estates at the Oaks, an exclusive gated community within another gated community.
Although the Kardashians first started taping their show from Hidden Hills, which has about 2,000 residents, the family and some of its members also have lived in Calabasas. The clan called the city home from 2003 to 2005 before moving to a bigger place in Hidden Hills, according to the L.A. Times. Kylie Jenner, the 22-year-old cosmetics mogul, bought her first house, a $2.7 million starter pad, in Calabasas in 2015.
Beverly Hills still has more pop culture references, from the TV show “Beverly Hills 90210” to the “Beverly Hills Cop” movie series to the Weezer song “Beverly Hills” -- but Calabasas is catching up. Kanye West has clothing collections with Adidas that include sneakers, track pants and hats branded with with the city’s name. Drake has a song called “4PM in Calabasas.”
Singing Praises
Living so close to the oak-studded hills does have its drawbacks. In 2018, the Woolsey fire prompted a week-long evacuation of the city. Nine homes were destroyed and 41 buildings damaged. Fire season now lasts year-round, according to Calabasas Mayor Alicia Weintraub, with firefighters and sheriff’s deputies constantly thinking about brush clearance.
Still, the city’s finances are sound. Calabasas and Beverly Hills are both rated Aaa by Moody’s Investors Service, its highest credit grade.
Calabasas, which doesn’t have a business tax, also has been a magnet for investment. The city is home to the headquarters of the Cheesecake Factory Inc. restaurant chain and cruise operator AmaWaterways, whose river excursions along the Danube and Seine cost as much as $14,000 a person.
Rick Caruso, the billionaire Los Angeles developer, built the Commons, one of his early outdoor malls, in Calabasas, and he said that everything from the jewelry store to the cafe does well.
“It’s a big family town,” Caruso said. “It’s not just a bunch of lonely rich people.”
--With assistance from Alex Tanzi, Shelly Hagan and Wei Lu.
This article was provided by Bloomberg News.