X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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

SAN PEDRO, CA-Locally based developer Palos Verdes Street Investments LLC has lined up entitlements for an 18-story high-rise residential tower and 4,000 sf of retail space in a project called the Urban Village at Palos Verdes Street, according to the Greenberg Glusker attorneys who secured the entitlements for the developer. The project, to be developed on a 1.6-acre site at Palos Verdes and Fifth streets, will include 32 flats and townhome condominiums designed as brownstones.

Greenberg Glusker attorney Silvia Saucedo, who led the entitlement effort on behalf of the developer, calls the project a “key to the revitalization of the San Pedro waterfront.” Saucedo notes that the mixed-use development complements Los Angeles City Council member Janice Hahn’s vision of a boardwalk that spans the “bridge to breakwater” portion of the community.

The 251 residential units of the Urban Village will feature work force housing, designed to provide affordable housing for public service workers such as police, firefighters and teachers. The development will be served by both subterranean and above-grade parking accommodating 574 vehicles.

The Urban Village at Palos Verdes Street will include what will be the tallest building in Downtown San Pedro. Gary Dwight, a principal of Palos Verdes Street Investments and a local resident, comments that, “To be able to develop a project that includes a building of this height anywhere on the California waterfront is a tremendousaccomplishment.”

Saucedo notes that the project won “unanimous approval at every stage of the entitlement process,” a result that she attributes in part to the incorporation of “a tremendous amount of community input” in the process. In addition to Saucedo, the Greenberg Glusker team included land use partner Elizabeth Watson and real estate partner Henry Finkelstein.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.