Richman Group-led team picked to redevelop Rancho San Pedro

Plans for 21-acre site includes building 1,626 rental and ownership units

TRD LOS ANGELES /
Aug.August 27, 2018 09:00 AM
Richman Group founder Richard Paul Richman and Rancho San Pedro

The City of Los Angeles has selected a team to redevelop the 21-acre Rancho San Pedro public housing complex in San Pedro. 

A team comprised of the Richman Group, National CORE, and Century Housing beat out three other finalists that presented plans in May, according to Urbanize. The team, which calls itself One San Pedro Collective, has plans to build more than 1,626 rental and to-own units at the site.

The team plans to build 478 units to replace the existing Rancho San Pedro affordable complex, 558 new affordable units, 132 affordable homeownership units, 416 market rate rentals, and 42 market rate homeownership units. The city asked developers to present mixed-income developments in its 2017 request for proposals to “allow for the long-term retention of a mix of incomes” in the area.

One San Pedro Collective also proposes retail and community services. Their plans include a two-acre park, pedestrian promenade, jogging trails, and a 1.5-acre youth development center.

The project would be built in phases, starting with the 478 units to replace the existing city-owned public housing complex. Richman Group, based in Greenwich, Connecticut, is leading the team. The selection means the team and city will enter into an exclusive 90-day negotiation period, according to the Daily Breeze.

Richman is also developing a 296-unit apartment project near the Metro Gold Line’s Monrovia Station. 

The Rancho San Pedro complex was built in 1942 for Defense Department workers and converted to public housing in 1952. Last year the city determined the complex would need at least $48 million in repairs if it was not redeveloped. [Urbanize] – Dennis Lynch


Related Articles

arrow_forward_ios
Architect Simon Park and a rendering of the project (Credit: SSPSTUDIO ARCHITECTURE & URBAN DESIGN)

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

6550 South Normandie Avenue (Credit: Google Maps)

Haroni Investments to turn parking lot into new apartments

Council President Herb Wesson and a rendering of District Square

City will draw up “anti-displacement zone” ordinance

Governor Gavin Newsom and Senator Nancy Skinner (Credit: Getty Images and iStock)

Developers rejoice: Newest state law aims to boost housing production

Assemblyman David Chiu and Gov. Gavin Newsom (Credit: Wikipedia and iStock)

California passes landmark rent control law

Adam O’Neill and the development site (Credit: Google Maps)

San Pedro-mania! Another mixed-use project planned for the nabe

The Spot at 2139 South Pacific Avenue and Adam O’Neill, president of Square One Homes, LLC, and Stonebridge Real Estate Group Inc. (Credit: Google Maps, iStock)

Multifamily development in San Pedro surges, thanks in part to Opportunity Zones

arrow_forward_ios
Loading...