Build at Navy Site Gets Green Light

SAN PEDRO, CA—iStar Financial is moving forward with its Ponte Vista development project. The Los Angeles City Council voted unanimously last week to approve the Ponte Vista Specific Plan and the Final EIR for the lifestyle community, which is located at San Pedro’s former US Navy housing site on Western Avenue. The approved plans for the 61.5-acre site feature 676 single-family and condominium homes and townhomes.

“Today’s vote by the City Council culminates many years of work in developing a quality lifestyle community for San Pedro, one that is broadly supported by the community because it meets the needs of the neighborhood and offers high-quality amenities to the home buyers,” says Steve McGee, EVP of iStar Financial, which took control of the project in 2010 after it had gone stale. iStar hired a new team of developers and architects to revitalize the development.