The mid-rise development, which comes from Holland Partner Group, is rising across a 2.5-acre site at 550-560 S. Palos Verdes Street. The completed project will consist of a seven-story building containing 375 studio, one-, two-, and three-bedroom apartments atop 5,000 square feet of ground-floor retail uses.
MVE + Partners is designing the building, which uses a series of podium-level open spaces to account for the half-block project site. These include multiple courtyards and roof decks.
Holland Partner Group took over the project in mid-2016 for $24.5 million, purchasing it from a Beverly Hills-based firm that initiated entitlements for the property. Completion is anticipated in 2020.
Holland has also turned its eyes east to Downtown Long Beach, where the Vancouver, Washington-based firm is planning a pair of eight-story apartment buildings.