Van Nuys-based Index Real Estate Investments has broke ground on a mixed-use apartment complex near the intersection of Pico Boulevard and Western Avenue, according to an announcement from RSE Capital.

The project, which replaces a series of commercial and residential buildings at 3063 Pico Boulevard, will consist of a six-story edifice containing 51 residential units above 3,350 square feet of ground-floor retail space.  The podium-type building will also contain a courtyard and other common amenities.

Renderings portray a contemporary design with exterior finishes that include plaster and wood panels.  A presentation to the Los Angeles City Planning Commission from 2017 lists its architect and general contractor as the Los Angeles-based firm Ketter Construction.

RSE Capital, which provided $5 million in preferred equity to construct the project says that construction began in June and is expected to conclude by the third quarter of 2019.