Why did The Lakes have an outdoor ice rink at all? The rink first opened in 2005 on one of the ponds that give the center its name. It was conceived as a public benefit, part of the deal Thousand Oaks made when Rick Caruso took over the property on a 95-year lease in 2004.
The rink stopped during the pandemic. By the time it could have come back, the deal that required it no longer applied. On Nov. 6, 2026 it returned anyway, running through Jan. 11, 2027, as the Thousand Oaks Acorn reported. Caruso brought back something it was no longer required to offer, and it did so while its bigger commitment to the city is still on paper. Knowing that history explains why the rink, the new stores and the empty back parking lot all sit on the same 7.5 acres.
The rink started out as part of the rent
The 2004 arrangement was unusual. The Acorn reported that Caruso could lease the 7.5-acre site at 2200 E. Thousand Oaks Blvd. for free in any year the center earned less than $2.1 million, or 12% of the original $17.6 million Caruso spent to develop it. The property never reached that level. The Ventura County Star put it more plainly in October 2025: the city has never received any income from the lease.
That gives the rink a different meaning. For years, an evening on the ice next to the Civic Arts Plaza was one of the few direct returns Thousand Oaks got from leasing out prime city land, so skating there was partly a way of collecting on that deal. The rink became a local holiday tradition until the pandemic suspended it.
The 2021 deal ended the obligation and started a long wait
In 2021, the city approved a new agreement. The Ventura County Star reported that it let Caruso buy the site for $2 million by Dec. 9, 2024 and build an apartment complex in the center's back parking lot. After that, the company would pay $13 million in community benefit fees over four decades. According to the Acorn, once that agreement was signed Caruso no longer had to host the annual rink.
Since then, the closing date has been pushed back several times. The council extended it in July 2024, approved two more one-year options in June 2025, and on Oct. 21, 2025 voted 4-1 to grant a fourth extension. That vote moved the deadline to close escrow to June 30, 2028, for a project of up to 165 apartments. In exchange, Caruso agreed to pay the city $100,000, which the Star reported would go to the city's homeless shelter. Chris Robertson, the company's vice president of planning and development, said high interest rates and inflation had made the project unfeasible for now. She told the Star the company remains "strongly committed to this community and look[s] forward to bringing residential forward as quickly as possible."
Council members who supported the extension pointed to the alternative. If the purchase fell through, the land would go back to the original ground lease, and the city could not put the site on the market for 75 years. At the Oct. 7 hearing, Council member Bob Engler described the city's position:
"I really want to reinforce to the developer that this is something that the city is looking forward to with anticipation."
The Ventura County Star reported that remark from the public hearing. As of that last report, the apartments are planned for the parking lot behind the stores, and the purchase that would start construction has a deadline more than eighteen months away.
So this season's rink comes from a landlord with no rink obligation and a pending land purchase, one that by its own account wants to stay committed to the town. Whatever the reasons, Thousand Oaks gets the rink back without having had to ask for it.
What the return looks like on the ice
The official Holiday Ice Rink page gives the details.
- Season: Nov. 6, 2026 through Jan. 11, 2027, open daily.
- Price: $20 for admission only, $25 with skate rental, plus tax and fees.
- Booking: Advance reservations for tickets and skate rentals are recommended through the "Reserve a Time" link on the rink page.
- Payment: Cashless only.
- Members: Caruso Signature members get free skates with paid admission. To verify at the Holiday Ice Skate Shack, they need the downloaded app and a linked credit card.
- Sponsors: Presented by Hallmark and The Practice Healthcare.
The hours have two settings, and the change matters for anyone planning around school and work schedules.
| Period | Monday to Thursday | Friday to Sunday |
|---|---|---|
| Regular hours: Nov. 7 to 20, Dec. 1 to 20 | 3 p.m. to 9:30 p.m. | 10 a.m. to 10 p.m. |
| Holiday hours: Nov. 21 to 30, starting again Dec. 21 | 1 p.m. to 10 p.m. | 10 a.m. to 11 p.m. |
This Thursday, the rink is still on its regular schedule, with weekday skating starting at 3 p.m. Holiday hours start Saturday, Nov. 21 and cover Thanksgiving week, which adds two weekday afternoon hours. The early-December stretch, Dec. 1 through 20, goes back to the shorter weekday hours just as the holiday calendar fills up. For the last weeks of the season into January, check the posted times on the booking page when you reserve.
The center around the rink is filling in
The rink is the most visible part of a busy year at The Lakes. Erewhon held its grand opening there on Aug. 26, 2026. To mark the occasion, its Tonic Bar introduced Amidst The Oaks, a smoothie made only for the Thousand Oaks store with ginger, herbs, pineapple and raw honey.
More tenants are on the way. The center lists Sora Handroll, solidcore and Bread Head as "Coming Soon," and the Acorn named Satva and PopUp Bagels among the dining and fitness businesses planned for the property.
Several standing events this season don't involve skating:
- Live Weekend Entertainment on The Lawn, Fridays and Saturdays from 5 to 8 p.m., through Dec. 26.
- Apple TV+ Kids Club on Mondays and Wednesdays at 10 a.m.
- Mahjong Social on Tuesdays at 10 a.m., registration required.
Put together with the rink, these give the center something happening almost every day of the week, with the purchase deadline still ahead. The Acorn called this "a busy year for The Lakes."
A skate and a show on the same block
The rink's location next to the Civic Arts Plaza was part of the original plan, and the plaza's holiday lineup this year makes it easy to pair the two. The official listings on the Bank of America Performing Arts Center site show these dates across its two stages:
| Date | Show | Venue | Time |
|---|---|---|---|
| Sat., Nov. 28 | The Nutcracker, presented by Protégé Performing Arts | Scherr Forum | 1 p.m. and 6 p.m. |
| Sun., Nov. 29 | The Nutcracker | Scherr Forum | 2 p.m. |
| Thu., Dec. 3 | Mannheim Steamroller Christmas by Chip Davis | Fred Kavli Theatre | 7:30 p.m. |
| Fri., Dec. 4 | Home for the Holidays | Scherr Forum | 7:30 p.m. |
| Sat., Dec. 5 | Home for the Holidays | Scherr Forum | 2:30 p.m. |
| Sat., Dec. 5 | Too Hot to Handel: The Gospel Messiah | Fred Kavli Theatre | 7 p.m. |
Nutcracker weekend falls inside the rink's extended holiday hours, so a family with tickets to the 1 p.m. matinee on Nov. 28 can skate afterward, with the rink open until 11 p.m. that Saturday. The Dec. 3 Mannheim Steamroller show is on a Thursday under regular hours, when the rink closes at 9:30 p.m., which means skating before a 7:30 curtain has to fit between 3 p.m. and early evening. On Saturday, Dec. 5, there are shows on both plaza stages, the live music on The Lawn runs from 5 to 8 p.m., and the rink is open until 10 p.m., all within a short walk of each other.
The rink is back for the 2026 season on Caruso's terms, and the apartments that were meant to replace the old arrangement still depend on a June 30, 2028 escrow deadline.
If you'd like to know how The Lakes plan and other changes along Thousand Oaks Boulevard could affect the homes nearby, or you just want to talk about the neighborhood around the Civic Arts Plaza, I'm glad to share what I've seen over 36 years in the Conejo Valley. Reach out through 1000oaksrealestate.com. Let's Connect.
