Caruso Affiliated, the real estate firm behind the Grove, has revealed updated renderings for a collection of shops and restaurants in the Pacific Palisades. The 116,000-square-foot development, known as Palisades Village, would rise from an approximately 3.1-acre site with frontage on Sunset Boulevard, Monument Street and Swarthmore Avenue. Designs from Elkus Manfredi Architects call for a series of one- and two-story buildings which would feature a specialty grocer, boutique shops and restaurants. The Village’s official website also describes plans for outdoor dining space, as well as a new park along Monument Street which would hold free community events. The section of Swarthmore Avenue which cuts through the project site would be converted into a one-way street, with traffic lanes giving way for street parking and widened sidewalks. Other parking accommodations would be situated within an underground garage. At the behest of its neighbors, Caruso will also revive the shuttered Bay Theater, which ceased operations in 1978. Plans call for five screens with seating capacity for 300 people. According to a representative of Caruso Affiliated, the project has received the endorsement of City Councilmember MIke Bonin, the Pacific Palisades Community Council, and a variety of other neighborhood organizations. Demolition of some of the existing buildings on the development site commenced approximately one year ago. The project is currently scheduled for completion in late 2017.