Pico Rivera, a city just southeast of Los Angeles, will soon see new development following the City’s approval of the 225-unit The Mercury project. During a recent City Council meeting, a general plan amendment required for the development to take shape was approved, ultimately paving the way for the project planned at 8825 Washington Blvd.
Plans for the project come from Los Angeles-based developer Optimus Properties, with designs from architecture firm Danielian Associates.
Overall, plans for the project include an apartment building that wraps around a six-story parking structure. Along Washington Boulevard, the apartment building will also reach six stories, while the northwest corner of the building adjacent to a number of single family homes will reach just three stories. In addition, the project includes 4,785 square feet of retail, and the parking garage will contain 464 parking spaces.
Of the full unit count, the project would include 35 studios, 159 one-bedroom, 57 two-bedroom and four three-bedroom units, according to project documents.
In addition, The Mercury includes 47,465 square feet of common open space, a 1,685 square foot business center and 20,693 square feet of private open space. Other amenities include a dog run, a roof deck with a pool, spa, cabanas and a game area.
The development features a contemporary design. Various colors and materials will be used throughout, including stone veneer, cement plaster and metal.
The project site is located just off Route 19, next to Pico Rivera Towne Center, which is home to stores like Walmart, Ulta, Aldi, Lowe’s and more. Pico Rivera Market Place is also located just east of the site.
Founded in 2007, Optimus Properties focuses on the acquisition, development and management of commercial real estate properties throughout California, Washington and Oregon. The company has, for many years, been active in the Los Angeles area, through both developments and investments.
In October of 2022, for instance, the company purchased a 34-unit apartment property at 1806 N. Berendo St. in Los Angeles’ Los Feliz neighborhood. The property was sold for $15.6 million, and the company is planning various renovations and modernizations to the building as units become vacant.
Likewise in June, Optimus Properties purchased Temple KT, a seven-property portfolio totaling 91 units. The portfolio, which consists of apartments throughout Koreatown and Echo Park, was sold for $21.5 million.
