An environmental report published by the Los Angeles Department of City Planning offers up new details on a proposed mixed-use development near the San Pedro waterfront.
Earlier this year, Beverly Hills real estate investment firm Omninet Capital, LLC submitted plans for a residential-retail complex at 550-560 S. Palos Verdes Street. The project, which would span across 2.5-acres, consists of a six-story structure that would offer 404 residential units above 5,200 square feet of ground-floor retail space..
Plans call for a mixture of studio, one-, two- and three-bedroom dwellings, as well as parking accommodations for up to 641 vehicles and 451 bicycles. On-site amenities would include a recreation room, multiple courtyards and a roof terrace.
Elevation plans, drafted by Los Angeles-based Nadel Architects, portray a contemporary podium-style building with a painted plaster exterior.
A budget and construction timeline are currently unclear.
The project emerges as the City of Los Angeles considers the potential redevelopment of multiple properties along the waterfront. Most notably, the Ports O' Call Village is slated for a $100-million makeover as the San Pedro Public Market.