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AMOEBA MIXED-USE PROJECT

Local developer, GPI Companies, purchased the site of Amoeba Music in 2015 for $34 million. Located in Hollywood at the corner of Sunset and Cahuenga Boulevard, GPI’s proposed 26-story mixed-use complex was recently approved by the Los Angeles City Council. Designed by Johnson Fain, the modern glass tower will include 200 apartments, including 10 low income units, a podium with 277 parking spaces, and 7,000 square feet of retail space. Planned amenities are multiple outdoor decks, a pool and fitness center. The Coalition to Preserve L.A. launched an unsuccessful appeal citing affordable housing requirements and sustainability concerns. With a streamlined environmental review, construction will likely start when Amoeba’s current lease terminates in about one year. The famed music store plans to maintain a presence in Los Angeles and will move to a new location within blocks of the current site. The venue hopes to obtain a marijuana dispensary license for the new store, similar to the one at its Berkeley location.

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Compass is a licensed real estate broker (01991628) in the State of California and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdraw without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. Exact dimensions can be obtained by retaining the services of an architect or engineer. This is not intended to solicit property already listed.