Amoroso Cos plans another apartment complex on West Pico
The 102-unit project in West LA — to replace a strip club — includes an affordable component
Amoroso Companies is looking to extend its reach on Pico Boulevard with a 102-unit apartment building in West Los Angeles.
The Agoura Hills real estate investment firm is planning a six-story project at 11434 West Pico.
Amoroso bought the property in March for $8 million. It’s currently home to the Fantasy Island strip club and bar. The property is about 21,150 square feet.
Amoroso develops commercial, hotel, and single-family homes as well as multifamily.
The project is the family-owned firm’s third on the boulevard in recent years. It is building a 100-unit complex with ground-floor retail about a half mile west on Pico Boulevard. And in Mid-City the firm is planning a multifamily construction with 123 units and ground floor retail. That project would rise over what is now 5935-5953 W. Pico Boulevard.
The latest filing will include 91 market-rate units and 11 units set aside for “extremely low income” renters. Amoroso is requesting a height increase and some other bonuses through the city’s Transit Oriented Communities program, which provides incentives for projects built near transit that include affordable units.
Source: The Real Deal Los Angeles