Piazza di Olivia is slated to be a four-story, Mediterranean architecture-themed structure with restaurants, outdoor cafés and top-story apartments.
Some Screenland residents voiced their concerns in council chambers Tuesday.
"I'm not sure exactly where we fit into this whole plan, but I'm worried that this is a great community of wonderful people and by building this with a planned parking lot, you're going to destroy it," resident Kathryn Horan said. "It's hard to find nice, affordable housing in a good location, and I don't want to leave. What [the developer] wants to do is great, but I think there should be a better way to do this without evicting a whole community of tenants."
While council members empathized with Screenland residents, the consensus was that that the project would transform a neglected parcel that has gone undeveloped for years.
"It's a great architectural piece of work and it's something that we all long for in the city," Councilman Jef Vander Borght said. "And this location fits like a glove."
Council members also said that the resulting project will be a pedestrian-friendly residential and commercial center that would attract lunchtime foot traffic from nearby studios, a sentiment echoed during public comment period on Tuesday.
"I've been talking to a lot of folks and we're all looking forward to a place where we can walk and not create more traffic," said Scott Williams, a television writer for Warner Bros.
Mixed-use developments like Piazza di Olivia tend to have a positive impact on vehicle traffic flow, said Christopher Alan, president of Dasher Lawless.