Harridge pays $152M for massive Highpark housing development

The complex will deliver 676 homes in San Pedro

TRD LOS ANGELES /
Apr.April 26, 2018 02:00 PM
26900 S. Western Ave.

Harridge Development Group paid $151.6 million to acquire the massive Highpark housing development site in San Pedro, The Real Deal has learned.

The project, formerly known as Ponte Vista, will deliver 676 homes across more than 60 acres of land at 26900 South Western Avenue. It will include single-family detached homes, townhomes, flats, a jogging trail, park space, recreation centers and “resort-style” amenities, according to its website.

Since inception nearly 13 years ago, Highpark has faced several setbacks due to its high density, permitting issues and complicated infrastructure groundwork, The Daily Breeze reported.

The seller, iStar, acquired the project in 2010. It reduced the scale of the site in 2012 and 2013, further reducing the number of homes from the original 1,950 units proposed by the original developer Bob Bisno.

With Harridge on board, construction is expected to begin later this year.

The company is also developing the massive Crossroads of the Hollywood mixed-use project in Hollywood, which will deliver 950 residential units, a 308-key hotel and 190,000 square feet of commercial space. Just last week, the company announced it will be incorporating — not demolishing — the historic Hollywood Reporter building into the site, appeasing preservationists who had been protesting the proposed demolition.


Related Articles

arrow_forward_ios
California State Senator Scott Wiener and Construction Trades Council President Robbie Hunter

Construction union pulls “anti-Semitic” Scott Wiener attack ad

Construction union pulls “anti-Semitic” Scott Wiener attack ad
Federal authorities charged developer Serena Shi in an alleged $20 million EB-5 scam

Coachella condo project at center of $20M alleged EB-5 fraud

Coachella condo project at center of $20M alleged EB-5 fraud
California State Senator Scott Wiener

Coronavirus could hurt LA’s density push

Coronavirus could hurt LA’s density push
Holland Partner Group’s Clyde Holland and a rendering of the San Pedro project (Credit: MVE+Partners)

Holland Partner Group plans another resi project in San Pedro

Holland Partner Group plans another resi project in San Pedro
Renters across LA are at their wits end with construction and renovations (Credit: iStock)

LA renters stuck at home are fed up with ‘disruptive’ construction projects

LA renters stuck at home are fed up with ‘disruptive’ construction projects
Mayor Eric Garcetti and SoFi Stadium Justin Sullivan and Scott Varley/MediaNews Group/Torrance Daily Breeze via Getty Images)

LA will shut down construction sites that don’t follow COVID-19 guidelines

LA will shut down construction sites that don’t follow COVID-19 guidelines
Architect Simon Park and a rendering of the project (Credit: SSPSTUDIO ARCHITECTURE & URBAN DESIGN)

Boyle Heights slated for another mixed-use project

Boyle Heights slated for another mixed-use project
Monica Rodriguez orchestrated the nixing of a residential project set for the Verdugo Hills Golf Course (Credit: Google Maps, Wikipedia)

The threat of fire doomed this Tujunga resi project. Now the developer will sue

The threat of fire doomed this Tujunga resi project. Now the developer will sue
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...