The Pawn Shop restaurant and bar will transform the former Brothers Collateral building at 5901 Melrose Ave. (photo by Edwin Folven)

The Los Angeles Department of City Planning released a set of guidelines on Oct. 22 that will allow the proposed Pawn Shop restaurant and bar at Melrose Avenue and Cahuenga Boulevard to open.

The approval caps a long process in which developer Diego Torres-Palma and his company Ventana Ventures sought to renovate the former Brothers Collateral pawn shop building into a neighborhood-serving establishment. The plan was initially opposed by some neighbors and community groups, including the Hancock Park Homeowners Association, which has now given its support as long as the rules stipulated by the Planning Department are followed.

“Everybody wanted to make sure the neighborhood would be protected in terms of the hours of operation and parking, and that happened,” Hancock Park Homeowners Association president Cindy Chvatal-Keane said. “[What was approved] is good for the neighbors, for the residents and the people who live there. This is very reasonable.”

Under the rules approved by the Planning Department, the restaurant and bar at 5901 Melrose Ave. is allowed to open from to 9 a.m.-11 p.m., Sunday through Wednesday, and 9 a.m.-midnight, Thursday to Saturday. The 7,808 square-foot restaurant is allowed 260 interior seats on two levels, with 190 seats on the ground floor and 70 seats in seven individual dining rooms on the upper floor. No outdoor seating is permitted.

The Planning Department also required the developer to offer a valet parking service and to submit a parking plan to the city. Torres-Palma had asked the city to allow the restaurant and bar to open at 6 a.m. to allow fans to watch soccer matches and sporting events held in other parts of the world, and to stay open later for musical performances. The Planning Department granted permission to open as early as 6 a.m. up to 24 times a year for sporting events, and required the owner to get permission from the Los Angeles Police Department’s Hollywood Division for each event. The Pawn Shop is allowed to have live entertainment ending at 10 p.m. up to 12 times per year. On-site security is mandatory, according to the guidelines.

Torres-Palma was thankful for approval and plans to follow the requirements. The exact timeline for an opening was not provided.

“Thank you to everyone in the community who took the time to provide their input and engagement during our approval process. This milestone marks an exciting step forward for us, and we are eager to embark on the construction phase of our project,” he said. “ As we move forward with construction, we look forward to creating a space that will respect the history and architecture of the building, create jobs and foster community connection.”