A new environmental report takes a closer look at a $150-million plan for a mixed-use development in Panorama City.
The ICON at Panorama City, proposed by the Beverly Hills-based Icon Company, would rise from a roughly nine-acre property at Roscoe Boulevard and Tobias Avenue, home to a long-vacant Montgomery Ward. Plans call the demolition of the former department store, followed by the construction of multiple low-rise and mid-rise structures, creating a combination of multifamily residential units and pedestrian-oriented shops and eateries.
Along the northern and western perimeters of the development site, ICON would offer a pair of residential buildings, with a combined total of 423 apartments. The seven-story structures would include a mixture of studio, one-, two- and three-bedroom units.
The eastern and southern perimeters of the development site are slated for five one- and two-story commercial buildings, creating 200,000 square feet of retail and restaurant space along a pedestrian paseo. The low-rise structures would wrap around a six-story, 1,060-car parking garage at the center of the property.
Preliminary renderings from Hochhauser Blatter, the architecture firm behind the project, portray a contemporary design for the mixed-use complex.
Construction of ICON is expected to take place over two years, beginning in late 2017 and finishing in late 2019. The project requires several discretionary approvals from the City of Los Angeles, including a zone change and a site plan review.