Four years ago, and through a holding company, GPI Companies purchased Amoeba Music for $34 million.
The legendary Los Angeles record store currently sits on Sunset Blvd. Years after the purchase, however, Amoeba’s owners – Marc Weinstein and Dave Prinz – they’ve sought a new location.
Now, the music store will finally move – following its complete destruction.
Yesterday, the Los Angeles City Council approved zoning changes in Hollywood. At the site Amoeba Music’s store on Sunset Blvd. and Cahuenga Blvd., a new 26-story complex will take its place.
Prior to the construction the complex, Amoeba Music will be demolished.
Currently, the record store has three locations in California – San Francisco, Berkeley, and Hollywood. Last summer, the flagship store in Berkeley up a weed-friendly pot shop to boost business.
Speaking about that decision, Weinstein explained,
“Music, in some ways, is such an uplifting product for humans. And we thought, weed is just another inspirational product that we can get behind with our hearts and souls.”
The Hollywood location opened its doors in 2001. Two years after its sale to GPI, Amoeba Music co-owner Jim Henderson said the record store won’t leave Los Angeles.
“Amoeba has every intention remaining in L.A. Rest assured, we are NOT closing, but we are now in a position where we may have to change locations in the coming years.“
The new 26-story mixed-use complex will feature up to 200 residential units. The ground floor will have 7,000 square feet commercial space. Amoeba Music, however, hasn’t indicated whether it will continue operating at the same location.
Not concerned over the City Council vote, Henderson added the record store has a lease “for about another year.” Yet, the co-owners will continue looking for a new site in Los Angeles.
“I can also tell you that if we find something that’s a fit, then obviously we won’t be taking those extensions and GPI can get on with their business and we can get on with ours.”
Last year, Weinstein said Amoeba Music would move “within blocks” its current site. So far, the co-owners and GPI have remained silent on the new location.
Featured image by jondoeforty1 (CC by 2.0).