Following a unanimous vote by the Los Angeles County Board of Supervisors, Vancouver, Washington-based real estate firm Holland Partner Group is expected to build a mixed-use development on the 1.8-acre site that houses the abandoned San Pedro Courthouse.
Although exact plans have not been revealed, an agenda item from a past meeting of the Board of Supervisors notes that the land could yield up to 250 market rate apartments above ground-floor commercial space.
The Daily Breeze reports that the developer will enter into a six-month negotiation period with the County Department of Public Works, which will allow some preliminary work to proceed on the property.
The Courthouse site, located at 505 S. Centre Street, is billed as a key link between San Pedro's historic downtown business district and the L.A. waterfront, where the aging Ports O' Call Village is slated for a $100-million makeover.
A similar project is also in the works on block east on Beacon Street.
The City of Los Angeles has also explored the potential redevelopment of several of its nearby properties in Wilmington and San Pedro, and has paved the way for a $500-million marine research center on an underutilized dock.