Holland Partner Group is taking the first step towards the development of a new residential-retail complex in Downtown San Pedro, reports the Daily Breeze.

The 2.45-acre project site, located at 550 S. Palos Verdes Streets, will feature 375 studio, one-, two- and three-bedroom units, as well as street-fronting town home units.  Plans also call for 5,200 square feet of ground-floor retail space, in addition to amenities such as a fitness center, a pool deck and a rooftop sky lounge.

Demolition of the existing structures is expected to finish within approximately one month, while the new apartments are scheduled to open approximately three years later in 2020.

Holland is an active builder throughout the Los Angeles area, with three towers now in the midst of construction in Downtown Los Angeles.  The Vancouver, Washington-based firm is also expected to redevelop the nearby San Pedro Courthouse site.

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Crane Action at Hollywood's Thompson Hotel

11-story building sprouts between Hollywood and Sunset Boulevards.

Construction is now kicking into high-gear at Hollywood's slow-moving Thompson Hotel, with the arrival of a tower crane at 1523 Wilcox Avenue.

The project, which comes from Los Angeles-based developer Relevant Group, will consist of an 11-story building featuring 200 guest rooms, a rooftop pool deck, and multiple food-and-beverage venues.