Late last year, an entity affiliated with the Amoroso Companies purchased the half-acre site that is currently home to the Fantasy Island strip club for $8.8 million. The property, located in close proximity to Metro's Expo/Sepulveda Station, is well-known to passersby for the imitation lighthouse which stands above both Pico and Exposition Boulevard. The building previously operated as a Hawaiian restaurant known as Kelbo's.
Amoroso, which is based out of Los Angeles, has targeted this stretch of Pico Boulevard before. At Centinela Avenue, the company completed a 94-unit apartment building in 2014. Near Bundy Drive, Amoroso is now in the midst of construction for a five-story, 100-unit development with ground-floor retail space.
Other developers have also set their sights on the corridor. Towards Barrington Avenue, a 71-unit building with street-fronting commercial stalls recently opened, while next-door to Fantasy Island, a five-story, 129-unit apartment complex is planned to replace a small shopping center.
- West Los Angeles Archive (Urbanize LA)