(To read more on the multifamily market, click here.)

SAN PEDRO, CA-Developer Raffi Cohen’s Beverly Hills-based Galaxy Commercial Holdings has imploded the 12-story former Pacific Trade Center building to make way for a 16-story, 318-unit project called Vue. It will be San Pedro’s first high-rise condo development. Galaxy collapsed the 40-year-old, 122,000-sf Pacific Trade Center office building Sunday morning amid cheers from onlookers at the waterfront site where the developer is building the $175-million Vue project.

A Galaxy spokesman tells GlobeSt.com that the developer imploded the building because the Pacific Trade Center had been built in a way that rendered it difficult if not impossible to dismantle the building floor-by-floor. The Vue, named for its views of the waterfront and Palos Verdes Peninsula, is slated to break ground in fall of this year, with the units expected to be available for occupancy in early 2008. It is a development of Galaxy and the Carlyle Group.

Designed by J. Kobi Moses, principal of GMP Architects of Santa Monica, the Vue is taking shape at a site just a short drive across the Vincent Thomas Bridge from Long Beach at Fifth and Palos Verdes streets. The condominiums will include units of one to three bedrooms that will range from 700 sf to more than 1,713 sf.

Planned amenities include a courtyard designed around a pool that features private cabanas, a roof-top sky deck on the 16th floor, a lounge and a fitness center. The project will include a five-story, 725-space controlled access parking structure.

Designed by J. Kobi Moses, principal of GMP Architects of Santa Monica, the project will feature interiors by Style Interior Design of Irvine. In addition to emphasizing the project’s location, views and amenities, the developers are marketing the Vue units as among the lowest-priced waterfront living in Southern California.

The developers point out that downtown high-rise projects, which were hardly imaginable only a few years ago in the Southland, have become popular in Los Angeles, Long Beach and other locales. The projects now include a number of buildings that represents all-new construction as well as existing high-rise buildings that have been modified for residential uses.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.