Architecture firm MVE + Partners has served up new renderings for 550 Palos Verdes, a mixed-use development now under construction near the San Pedro waterfront.

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.

Image courtesy of MVE + Partners
Image courtesy of MVE + Partners
Image via Google Maps

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The project would replace three existing homes.

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The latest project, located at 6845-6855 N. Figueroa Street, would replace three existing houses with eight new residences.