An asphalt lot in Lomita has been cleared to dirt as a Newport Beach-based real estate investment firm breaks ground on a large apartment complex.

The Picerne Group, owners of the L-shaped property at the intersection of Crenshaw and Lomita Boulevards, has received approvals to construct a five-story structure featuring 223 studio, one-, and two-bedroom apartments atop a two-level basement parking garage.

Picerne Lomita, which is being designed by TCA Architects, will be constructed out of wood and concrete and feature exterior finishes such as wood, porcelain tile, and plaster.  Plans call for several amenity decks along the exterior of the building, as well as a central pool courtyard flanked by a club room and a fitness center.

An environmental study conducted for the project anticipates an approximately 26-month construction timeline for Picerne Lomita, placing its estimated completion date in early 2022.