A mixed-use development featuring rental housing and ground-floor commercial space could rise from a nearly 19,000-square-foot site in San Pedro, according to plans filed last week with the City of Los Angeles.
The property, located at 2111-2139 S. Pacific Avenue, is partially improved with a bar, but is otherwise vacant. The application submitted to the Planning Department calls for razing the lot to make way for a four-story building featuring 101 apartments - including 12 very low-income affordable units - with ground-floor retail and subterranean parking. Requested entitlements include density bonus incentives to allow for increases in height and allowable floor area.
City records list the project applicant the entity RKD 2111 Pacific, LLC. According to an SEC filing from Fundrise, which provided a $1.6 million loan for site acquisition through its affiliated RSE Capital Partners, the entity is a joint venture between principles of Root Real Estate and Ketter Development.
The project site is located two blocks south of a 1801-1843 Mesa Street, where 22 small lot homes previously entitled by Root Real Estate are now under construction.
- San Pedro (Urbanize LA)