The former Pico Bowl site at 234 Pico Boulevard is trading bowling shoes for blueprints, as a new mixed-use complex climbs into view just south of the Santa Monica Civic Center. Brentwood-based Cypress Equity Investments is putting up a four- and five-story building that will bring 186 studio, one- and two-bedroom apartments, about 11,000 square feet of ground-floor retail, and a three-level garage with roughly 346 parking spaces. The KFA Architecture design includes 19 deed-restricted affordable units under a state density bonus agreement.
Work Goes Vertical, And The Old Sign Gets A Second Life
According to Urbanize LA, heavy equipment has moved in, and a red tower crane now looms over the old bowling-alley footprint, with photos by Hunter Kerhart showing the structure beginning to rise. The report notes that the project plans to preserve and reinstall the Googie-style "BOWL" sign as part of the new streetscape, a small nod to the site's mid-century past even as the block shifts firmly into the housing column.
Unit Breakdown, Design Rules And City Sign-Off
City of Santa Monica planning records, filed under Administrative Approval Case 22ENT-0034, spell out the mix as 167 market-rate apartments plus 19 very-low-income units, for a total of 186 homes, alongside 11,004 square feet of ground-floor retail space. The packet describes a five-story building topping out at 58 feet and notes that the developer is using State Density Bonus Law waivers to exceed base limits on height and density. City staff also lay out pedestrian-oriented design rules for the Pico frontage, along with requirements for open space, floor area, and active ground-floor uses that the project has to meet.
Coastal Commission Sign-Off And A Deeper Garage
A California Coastal Commission staff report on a permit amendment confirms that the project grew from an earlier 105-unit concept to the current 186-unit version and recommends approval of that change. The amended plan adds a third subterranean parking level, bringing the total to 346 vehicle stalls and 249 bicycle spaces. Commission materials also require that all 19 affordable units remain deed-restricted for the life of the building, and make clear that the approval rests on updated special conditions and mitigation measures tied to public access and environmental protections.
Developer’s Pitch And The New Look For Pico
Cypress Equity’s own project write-up highlights KFA Architecture’s redesign, calling out features such as two courtyards and a rooftop penthouse, and notes that the company has several other developments in the Santa Monica pipeline. The developer materials, which incorporate reporting from Urbanize LA, frame the revised proposal as a product of recent shifts in state density bonus rules and point to the increased on-site affordable count as one result. For neighbors, Cypress Equity emphasizes the planned ground-floor retail and open spaces meant to bring more foot traffic and activity to this stretch of Pico Boulevard.
Why This Build Matters On Pico
City and Coastal Commission documents argue that the project will stack new housing close to downtown jobs and transit while keeping street-level retail to support a more walkable corridor. At the same time, the density bonus approach and the jump in scale from an earlier three-story concept to the current plan show how state law is reshaping infill projects across Santa Monica. The development still has to clear final design tweaks and satisfy permit conditions before full building permits are issued, but the visible crane is already signaling the largest physical change on this block since the bowling alley came down. As laid out in the planning and coastal filings, the building will need to hit a mix of housing, parking, and public-access benchmarks before residents can move in.
For more background and photos, see coverage from Urbanize LA and the California Coastal Commission staff report on the project amendment at documents.coastal.ca.gov.
