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The Real Deal Los Angeles

Icon Company releases renderings for massive $150M Panorama City project

The development could bring in 422 resi units and a movie theater
August 31, 2017 12:00PM

A rendering of the 8.9-acre development at Panorama City (credit: Hochhauser Blatter)

The Icon Company is looking to make its mark in Panorama City.

New renderings reveal the $150-million mixed-use development located West of Van Nuys Boulevard. The developer would completely demolish the vacant Montgomery Ward department store, as well as two other unused commercial buildings, to make room for a massive project, Urbanize reported.

The 8.9-acre endeavor — bounded by Roscoe Boulevard, Tobias Avenue and Cedros Avenue — would create approximately 422 apartments, with 200,000 square feet of commercial space and a six-level parking structure that fits 1,690 vehicles. The 584,000-square-foot project is so big it has three addresses, including 14651-14697 W. Roscoe Boulevard.

That number is roughly the same as the revised plan the development company filed in August 2016, but different from the Beverly Hills-based development group’s initial filing, which called for 350 apartments with 250,000 square feet of commercial space.

Retail stores would be located across five separate one- and two-story buildings on the eastern and southern portions of the site, according to the project’s draft environmental impact report.

Two separate seven-story buildings would flank the northern and western portions, offering a mixture of studio, one-, two- and three-bedroom apartments.

Architecture firm Hochhauser Blatter is designing the development.

Construction could begin as early as the end of the year with expected completion by early 2020. [Urbanize] – Natalie Hoberman