The project, which is being developed by Holland Partner Group, is rising on a nearly 2.5-acre property located along Palos Verdes Street between 5th and 6th Streets. At completion, the seven-story building will offer 375 studio, one-, two- and three-bedroom apartments in addition to street-level townhouse units. Plans also call for more than 5,000 square feet of ground-floor commercial space.
MVE has designed 550 Palos Verdes as a contemporary mid-rise structure, featuring open-space amenities such as a courtyard-level swimming pool and a rooftop deck.
Holland, which purchased the project in mid-2016 for approximately $24.5 million from Beverly Hills-based Omninet Capital, has downsized it slightly from an earlier proposal for 404 apartments.
Completion of 550 Palos Verdes is expected in 2020.
- 550 Palos Verdes Archive (Urbanize LA)