The Icon Company, a Beverly Hills-based real estate firm, has revised its plan for a $150-million housing and entertainment complex in Panorama City.
According to plans filed yesterday with the City of Los Angeles, the project at Roscoe Boulevard and Tobias Avenue is now slated to include 422 residential units and approximately 200,000 square feet of commercial space. When first announced in January 2016, Icon had planned for 350 apartments and 250,000 square feet of retail and entertainment uses.
The project would rise from an approximately nine-acre site located immediately west of the Panorama Mall, replacing a vacant building that once housed a Montgomery Ward department store.
Previously published reports indicate that the mixed-use development could break ground in early 2017 and open sometime in 2019.
As currently planned, the project will require numerous discretionary approvals, including a zone change.