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New renderings of Panorama City’s giant ICON retail, housing project

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Planned for the old Montgomery Ward site

Via Department of City Planning

The site of Panorama City’s old Montgomery Ward is poised for a big transformation and new images via the city’s planning department give a glimpse of how the massive new mixed-use development might look.

Plans call for razing three vacant commercial buildings and their parking lots on the 8.9-acre property and building a new seven-building complex on the site along Roscoe Boulevard.

The 584,000-square-foot development would hold 422 apartments and 200,000 square feet of commercial space.

Updated renderings from architects Hochhauser Blatter show that the development would be relatively low-slung, with commercial uses spread out across five one- and two-story buildings and the residential in two seven-story structures.

Of the 422 units, 176 will be one-bedrooms and 172 will be two-bedrooms, though there will also be studios and three-bedrooms in the mix.

The complex’s 1,690 residential parking spaces and 858 bike parking spaces would occupy the two lower floors of the residential buildings. There’s also a six-level parking structure toward the center of the site that would serve people working and using the retail portion of the property.

The draft environmental impact report says that the developers expect the project to take about two years to build, beginning late this year and wrapping up in early 2020.

This major project isn’t the only big development headed to Panorama City. Downtown developer Izek Shomoff is planning to revamp a one-time office tower, turning it into housing, retail, and outdoor mall space. The Valley in general has about a dozen especially large projects in the works.