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The Real Deal Los Angeles

Singapore firm’s proposal for resi tower in San Pedro would be community’s tallest

Black Swan Equity Partners' project would include 94 units
January 25, 2019 02:00PM

537 S. Nelson Street (Credit: Google Maps)

Black Swan Equity Partners plans to develop the tallest building in San Pedro – a 94-unit apartment tower.

The private equity firm, based in Singapore, filed plans this week to construct a 22-story, mixed-use building at 537 S. Nelson Street. The firm acquired the site for $982,000 in 2015 through an entity named Red Dot Nelson LLC, according to records. UrbanizeLA first reported the story.

The project will designate about 11 units as affordable, and it will include ground floor commercial use. If approved, it would replace two single-story commercial buildings along 6th and Nelson streets. A 600-square-foot Victorian house was demolished on the site last year.

The site was previously slated for a smaller, 47-unit project named “Nelson One,” or the “Johnson Tower,” according to media reports.

San Pedro has a lot more residential development coming down the pipeline. Earlier this month, LINC Housing and National CORE filed plans to build a 91-unit affordable housing project called 9th Street Lofts at 456 W. 9th Street. And last month, Parkview Management Group filed plans for “micro-units” in its apartment conversion project of the historic Harbor View House.

Other proposed projects for San Pedro include a boutique hotel with 80 rooms next to the Warner Grand Theatre, and the redevelopment of the 21-acre Rancho San Pedro public housing complex that would include more than 1,600 units. [UrbanizeLA] — Gregory Cornfield