Advertisement

Holland Partner Group has paid $24.5 million for a large development site in San Pedro, according to an announcement from real estate brokerage Madison Partners.

The 2.45-acre property, located at 550 S. Palos Verdes Street, is entitled for a mixed-use development that would feature 404 residential units atop 5,200 square feet of street-fronting commercial space.

Renderings of the project, which is designed by Nadel Architects, portray a contemporary six-story building stretching a full city block.  The mix of studio, one-, two- and three-bedroom apartments is supplemented by multiple courtyards, a roof terrace and a large underground parking garage.

Holland, based out of Washington State, has been an active developer throughout Los Angeles, and is reportedly planning a similar mixed-use project one block west at the site of the San Pedro Courthouse.

Rendering by Nadel Architects
Rendering by Nadel Architects
Image via Google Maps

Proposed Apartment Building Near Van Nuys Boulevard Faces Appeal

The proposed development calls for a four-story building with 27 residential units.
bar

This week, the Los Angeles City Planning Commission is scheduled to consider an appeal of a proposed multifamily residential development near the Van Nuys Civic Center.